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Originally Posted by bobbyw8469
Elections have consequences. And we are sure as heck paying the price now.
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YUP!!!
But to be fair, probably doesn't matter who's in office as they need to cover and at least try to start paying back all the increased debt we've had due to the pandemic. The interest alone we paid last year was over half a trillion $ I believe. If they have to start raising interest rates in an attempt to curb inflation, we could be in for a world of hurt.
And for now, they're initially trying to increase compliance and enforcement of the existing tax laws before raising the rates, or creating new ones. Or they may just wait. Don't forget that a large part of the individual tax laws and reductions passed back in 2017 are scheduled to expire at the end of 2025, with no one doing anything.