Some have asked how tax plan can permanently cut taxes on corporations on net if Senate rules require no increase in deficits after 10 years. It does so through two permanent stealth tax increases on individuals: slower inflation indexing and repealing individual mandate. 1/5
JCT has said that slower inflation indexing in tax plan raises at least 3 times as much in second decade as first. So about $400B in 2nd decade. This is largely how bill pays for permanent net corporate tax cut. 2/5 wsj.com/public/resourc…
Slower inflation indexing largely exempts the wealthy b/c most of their income is already in the top tax bracket. Really hurts middle class and poor b/c more of their income taxed at higher brackets over time, and reduces value of tax benefits like EITC. 3/5
Individual mandate repeal results in 13 million Americans no longer having health insurance, and 10% higher premiums in individual market. 4/5 cbo.gov/system/files/1…
