Who gets the tax cuts?

Who gets the tax cuts?: Faith and Justice: Real tax reform would require getting rid of tax gimmicks and loopholes. But those are very popular, both on Capitol Hill and with taxpayers.

MGB:_Tax reform is often a dodge to cut tax rates on the rich. This makes it more lucrative for rich capitalists to cut wages and increase profits and CEO compensation. High tax rates on the wealthy tip the balance the other way, making it better to have a happy workforce than an exploited one.

Tax cuts for the rich often come with deficit spending, so that what is cut goes to buy government bonds (if interest rates are high enough - and they will be). Of course, if you tax the money, you don’t have to pay it back.

Trump wants most of all to end the payroll surtaxes that came with Obamacare, which only the rich pay. Unless you replace these with eliminating the income cap on Social Security, this should not be done and probably can’t be without triggering a 60 vote Budget Act point of order against increasing the debt. Rate cuts face the same fate, so unless the Democrats roll over, there is no chance, which is why the negotiations to watch are between Secretary Mnuchin and Senator Wyden.