The Trump Tax Increases are on Schedule

[AceDesSpades]

This "fiscal cliff" is eight years in the making. The 2017 Tax Cuts and Jobs Act (TCJA) revamped both the federal corporate and individual income tax codes. But while the new, lower, corporate income tax rate (and associated changes) were made permanent, many changes to the individual tax code were temporary. That includes the higher standard deduction, expanded child tax credit, and the lower tax rates that have allowed nearly all taxpayers to keep more of their own money these past several years.

Unless those provisions are extended or made permanent by the end of 2025, the higher pre-TCJA policies will automatically return. That would mean higher taxes for nearly all taxpaying Americans.

Of these complex and interconnected issues, those individual income tax rates are the most pressing for Congress to solve. Under the TCJA, the top marginal rate was reduced from 39.6 percent to 37 percent—with rates for other tax brackets falling similarly.

Eric Boehm, Reason.com (Libertarian)

FairTax.org
Repeal the 17th



https://reason.com/2024/12/02/taxpocalypse/

 

[Politruk]

Repeal the 17th

Why?

 

[Politruk]

Unless those provisions are extended or made permanent by the end of 2025, the higher pre-TCJA policies will automatically return. That would mean higher taxes for nearly all taxpaying Americans.

With Republicans in control of Congress and the WH, do you see any reason to doubt the cuts will be made permanent?

 

[IrezumiKiss]

With Republicans in control of Congress and the WH, do you see any reason to doubt the cuts will be made permanent?

It's been two months since AJ started this thread and went . That yappy, perpetual high school debutante NEVER stayed away from this joint longer than a week or two if he could mouth off on anything, but missed Cheeto's second coronation of all occasions.

sorry, but the likelihood of him answering you now is like the chances of those billionaires making a surprise comeback from the OceanGate submersible.