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Economy

progree

(11,463 posts)

7. The personal income tax parts. But the corporate tax changes are permanent.

Reply to jimfields33 (Reply #4)

Fri Jul 14, 2023, 11:04 AM

Jul 2023

And actually some provisions of the personal income tax changes are permanent too.

I suspect that just like Obama and most Dems (along with all or nearly all Repukes) made the Bush tax cuts permanent, the same will occur with the Trump tax cuts. It's just not realistic to expect Congress and whoever is president in 2025 to let personal income taxes jump at the beginning of 2026.

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US Racks Up $652 Billion in Debt Costs as Rates Hit 11-Year High [View all] mahatmakanejeeves Jul 2023 OP

That's a 2.7 fold increase in the deficit (for the 9 months ending June 30 vs. same period a year progree Jul 2023 #1

And how much of this debt being paid out to American holders of this debt? My Mom and Dad have SWBTATTReg Jul 2023 #2

Yields are up. mahatmakanejeeves Jul 2023 #3

Thanks! I'm sure those that their funds that invest in such investments are happy! It has SWBTATTReg Jul 2023 #5

Trump tax cuts are done in 2025. jimfields33 Jul 2023 #4

Thanks for the FYI! SWBTATTReg Jul 2023 #6

The personal income tax parts. But the corporate tax changes are permanent. progree Jul 2023 #7

+1 peppertree Jul 2023 #9

Lowering the standard deduction is going to cause tax increases for a significant number of people MichMan Jul 2023 #8