Why Spending Cuts Are Much More Important than Tax Cuts | 1/09/25
Description
On today’s special show, I engage in the deepest dive into the tax code available on the web. I do this to show that we are facing a policy and political checkmate trying to do more tax cuts. Most people don’t pay that much in federal income taxes, thanks to two generations of tax cuts. They are paying exponentially more on the cost of living thanks to the deficit spending, which will be exacerbated by more tax cuts. Democrats already agreed to extend most of the tax cuts, and in order to get the final rates at the top, we are going to have to offer them garbage provisions that aren’t worth the squeeze. In the world we live in today, tax cuts are just not the issue of our time. Reconciliation should be used more for spending. With that said, if Trump is hell-bent on making taxes the main issue, I offer some ideas for small business tax cuts as well as using the tax code to leverage systemic health care reform.
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