Trump Tax Priorities Total $5 to $11T

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13 points·josefresco··4 comments

Don't worry, the extra tariffs, mad growth from unshackling those repressed corporations from pesky regulations, closing the Department of Education, USAID, and of course the establishment of the strategic memecoin reserve will magically pay for all these tax programs! YOLO baby!

The top line numbers, from the article:

- Reduce revenue by $5.0 trillion to $11.2 trillion over ten years. - Lower revenue by 1.3 to 3.0 percent of Gross Domestic Product (GDP). - Boost debt to between 132 and 149 percent of GDP by 2035, if not offset, compared to nearly 100 percent today and 118 percent under current law.

The majority of it comes from extending his original Tax Cuts And Jobs Act, whose original cost was based on expiring starting this year.

It’s very confusing me to try and remember which numbers are measured in years vs decades. “Cost of 5 to 11 trillion dollars” without context is confusing.

Also lol good thing he found $100 billion in savings.

Tax bills are usually measured in costs to the debt (the whole lifetime of the law) rather than the deficit (one year). Dunno why; that's just how they do it.

It's especially misleading because the only reason it's not infinite is that the tax cut has a sunset. Nobody thinks of a tax cut as temporary. The cuts in this article are about taxes from his last term which are expiring now.

(By coincidence it would have fallen to his successor if he'd won reelection. It's only because of the split terms that he has to make the case for this tax break again.)

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