The real cost of Trump's 2017 tax cuts for the rich? Double the estimate

[Yo_Mama_Been_Loggin]

There is really only one signature legislative “achievement” from Donald Trump’s time in the White House: The 2017 Tax Cuts and Jobs Act. He did other things while in office—bungling the pandemic, wrecking relationships with allies, insulting veterans—but when it comes to bills pushed through Congress and collecting Trump’s signature, there’s only one thing that stands out. A tax bill that emptied the nation’s coffers to pay off billionaires and corporate bosses.

Even at the time, it was clear that the bill would be extremely costly. Republican leaders claimed that the tax bill would generate growth and lead to “$1 trillion in additional revenue.” But the Congressional Budget Office estimated that the bill would actually cost the government $1.9 trillion before its cuts expired in 2025.

Now the CBO is back with a new estimate of what it would cost to keep Trump’s tax cut in place over the next decade, and that estimate is more than double the original cost. Keeping Trump’s tax cuts would cost a whopping $4.6 trillion and send the nation on a path to a level of deficit only seen during the Great Depression, World War II, and … Trump’s bungling of the pandemic.

Trump’s tax cuts are slated to expire in 2025, meaning that the winner of this election is going to determine whether the nation puts an end to this gravy train for billionaires, or extends it at a crushing cost to the average American. At his fundraiser that supposedly made $50 million in April, Trump told wealthy donors exactly what they wanted to hear: He plans to extend the tax cuts.

https://www.dailykos.com/stories/2024/5/9/2239757/-The-real-cost-of-Trump-s-2017-tax-cuts-for-the-rich-Double-the-estimate

[SWBTATTReg]

1. Another reason (and a good one) to keep tRUMP out of the WH. He would put us into the poor house.

[OAITW r.2.0]

2. Same as ever.

Reagan, W, Trump. Their policies cost this country trillions. When will the rubes figure this out?