SB 8610: GAIN Act

[Former President tack50]

Well, while this tax cut for the poor and middle class is fine, there is a very big problem with funding. A 58% income tax is (barely) on the level that I consider acceptable.

Since it doesn't comply with paygo rules, I think this needs an ammendment reducing the amount of the cut (and maybe also reducing the maximum income tax rate if the EITC is reduced enough).

There is also the possibility of funding this through cuts in other areas of government. Mr. Reactionary identified up to 20 billion $ that coult (theoretically) be cut in the department of agriculture alone. There were also further areas identified that could be cut.

While taking all those cuts would be a bad idea, if this is to pass in its current form, there will need to be some cuts somewhere, this can't be funded just by an increase in the income tax.