Why not just repeal the Trump tax cuts in their entirety? Or go back to the Clinton-era tax rates? I don't see how preserving a quarter-century's worth of ill-considered tax giveaways makes the problem any better, especially if we're assuming that everybody (and not just the rich) has to tighten their belts for the foreseeable future. As a Zoomer, I sorta get the whole "intergenerational equity" appeal, but if we're assuming (as you are) that the situation is near-crisis-level urgent, I don't see the point (especially given how progressive the existing tax code already is).
Also, not sure if the report takes into account other non-interest savings from, say, reducing the net tax gap or implementing outstanding budget-saving reforms as outlined by organizations like the GAO. Don't mean to unfairly criticize you: this is a precise, actionable deficit reduction program.
Those are fair questions. I do repeal much of the Trump tax cuts and raise taxes quite notably. But going back to Clinton-era tax policies would be a huge tax hike for low earners because it totally eliminates the child credit, weakens the EITC, raises their tax rates, and brings back the marriage penalty. I restored Clinton's top rate of 39.6% but not those other policies.
Also, my list of tax recommendations above did include reducing the tax gap, and my program recommendations incorporate GAO recommendations to meet the targets.
Just like Social Security trustees, I've always said that the crisis was coming after the boomers retire in the 2030s - but we needed to reform 20 years ago to phase-in the Social Security and Medicare changes while the boomers still have time to adjust their retirement strategies (lawmakers did not listen, leaving us in this mess).
Now, do you have any substantive analysis, or just this snark?
Why not just repeal the Trump tax cuts in their entirety? Or go back to the Clinton-era tax rates? I don't see how preserving a quarter-century's worth of ill-considered tax giveaways makes the problem any better, especially if we're assuming that everybody (and not just the rich) has to tighten their belts for the foreseeable future. As a Zoomer, I sorta get the whole "intergenerational equity" appeal, but if we're assuming (as you are) that the situation is near-crisis-level urgent, I don't see the point (especially given how progressive the existing tax code already is).
Also, not sure if the report takes into account other non-interest savings from, say, reducing the net tax gap or implementing outstanding budget-saving reforms as outlined by organizations like the GAO. Don't mean to unfairly criticize you: this is a precise, actionable deficit reduction program.
Those are fair questions. I do repeal much of the Trump tax cuts and raise taxes quite notably. But going back to Clinton-era tax policies would be a huge tax hike for low earners because it totally eliminates the child credit, weakens the EITC, raises their tax rates, and brings back the marriage penalty. I restored Clinton's top rate of 39.6% but not those other policies.
Also, my list of tax recommendations above did include reducing the tax gap, and my program recommendations incorporate GAO recommendations to meet the targets.
How many decades now have you been predicting a debt crisis just over the horizon?
Just like Social Security trustees, I've always said that the crisis was coming after the boomers retire in the 2030s - but we needed to reform 20 years ago to phase-in the Social Security and Medicare changes while the boomers still have time to adjust their retirement strategies (lawmakers did not listen, leaving us in this mess).
Now, do you have any substantive analysis, or just this snark?