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New CBO Forecasts Suggest Little Hope For Bessent’s Fiscal Targets
Remember when Donald Trump and the GOP were going to cut the deficit, pay off debt and otherwise rig
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Get rid of the estate tax step up. Stop raising the estate tax exemption.
Hear hear! It is mind boggling that we not only favor capital over labor when it comes to taxation, but now, we give inheritance more favorable treatment than working or investing.
This is also what bugs me about prop 13 in California although the benefit around inheritance has been tightened slightly. A family just trying to gain a foothold is subsidizing people sitting on 6 or 7 figure gains in property value.
We, Americans, sure like to give the wealthy and their progeny every advantage we can.
How long before the director of the CBO gets fired? Or investigated for mortgage fraud?
No worries, the size of the federal debt doesn’t matter as long as the interest rate is 1%, and they have a plan for that.
I had a very realistic dream last night that someone (?) paid each of the Federal Reserve Governors one million dollars to resign/retire so that someone could fill the empty slots. How unrealistic! It would probably have to 5 mil each. That is how 1% fed funds could easily be achieved. Easy, peasy.
We need lower tariffs, and lower taxes on people who work (social security and medicaid). These taxes should be replaced by a vat which could be structured to tax basics that lower income folks need/buy. Vats can get refunded on exports so that would help trade. And a vat is a broader tax so everyone pays it not just working folks. It would really help the bottom 60%. If you made the vat high enough maybe you could finally fund some socially desirable goods like universal health care.It will never happen. Oh well.