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Subject:  Re: macro - dem president Date:  3/7/2019  4:01 PM
Author:  MisterFungi Number:  3633 of 3717

I would have thought that the corporate tax cut would be the first thing that would be reversed.

1. Even a fair number of Dems understand the competitive disadvantage of a high US corp tax rate (even if the effective tax rate for many corps was well below the nominal rate). Some loopholes might get eliminated, though. From an investment perspective, I don't see it as a big deal either way.

2. It's not a priority. Affordable health care (including sustainable Medicare and Medicaid) is. Dealing with climate change in a way that expands opportunity for left-out Americans is. Putting Social Security back on a sustainable path (mostly by raising the cutoff ceiling modestly over time) is.

Getting back to the gist of the original post, I might add that a (proper) concern with deficit reduction and tax equity--by genuine conservatives as well as by progressives--might well focus on making effective taxation of investment income more commensurate with effective taxation of wage income. Since 100% of my income (other than Social Security) is the former, this would cost me. And I would support it (within reason).
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