In Marginal Revolution, Tyler Cowen quotes from a news article on Financial Times:
There are many implications of Trump’s investment in the White House,” said Jack Ablin, chief investment officer at Cresset Capital. “[Most notable would be] the Fed is on a long-term high, as monetary policymakers raise the possibility that the corporate tax cut will be extended next year.”
Did you notice the mistake in the quote from Jack Ablin? Neither Tyler nor, as far as I know, any of his many commentators did.
The reduction in corporate tax, if you mean the reduction in the corporate tax rate to 21%, there is no need to increase it next year because it does not expire next year. They are one of the few parts of the 2017 tax cuts that are permanent unless Congress expressly changes them. And thank goodness for that because it’s one of the best parts of the 2017 legislation. (One is the limitation on the deduction for state and local taxes, which expires next year.)
I’ve seen a lot of people say on line that the income tax rate cut was temporary. I fixed a The reason the author who said that. Brilliantly, he revised his work to reflect the truth.
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