Post #42141 by tecmo on the US Policy board

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Well, it turns out that tax cuts don't actually pay for themselves. According to the Congressional Budget Office, permanently extending the Trump tax cuts without paying for them would in fact be very costly. The national debt “would reach 214 percent of GDP in 2054, 47 percentage points higher” than if the tax cuts aren’t extended. The CBO’s report goes on to say that extending the Trump tax cuts would harm the economy and increase consumers’ borrowing costs.

Why didn't Democrats adjust taxes during their term to reduce the deficit?

tecmo
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