While the underlying structure of the bill involves raising taxes on the middle class, the bill also includes a number of temporary tax breaks that would, at first, offset these tax increases. As a result, in the first few years most middle-class families would see modest tax cuts. Either this bill is a big tax hike on the middle class, or it’s a huge budget-buster. Advertisement Continue reading the main storyOh, and ignore claims that tax cuts for corporations would jump-start the economy and pay for themselves. For suppose those temporary tax breaks did end up becoming permanent, so that the budget deficit soared on a long-term basis.

Source: New York Times November 28, 2017 00:11 UTC