Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, April 20, 2018

Article on The 2017 Tax Cuts: How Polarized Politics Produced Precarious Policy

image from https://s3.amazonaws.com/feather-client-files-aviary-prod-us-east-1/2018-04-20/78dbedf4-07d3-4d26-acf9-582d969e5e96.pngMichael J. Graetz published an Article entitled, The 2017 Tax Cuts: How Polarized Politics Produced Precarious Policy, Wills, Trusts, & Estates Law eJournal (2018). Provided below is an abstract of the Article:

In this lecture, Michael Graetz contends that the new tax law is unstable. This is hardly surprising because it was rushed through Congress in record time with only Republican votes and no ability for public comments on its changes. The new rules create significant new differences in tax burdens based on what kind of business is conducted, where goods and services are bought and sold, whether individual workers are employees or independent contractors, and where people live. Finally, although it was estimated to be a $1.5 trillion tax cut over ten years, it's actual cost is likely to be double that amount, producing unsustainable annual deficits and an unacceptable level of public debt. Footnotes have been omitted here. This article is forthcoming in the Yale Law Journal Forum.


Articles, Current Affairs, Estate Planning - Generally, Income Tax, New Legislation | Permalink


Yep, I heard that Democratic talking point about the true cost of the tax cut from Austin Goolsby in a Freakonomics podcast earlier today. I think the statement is that $1.5 trillion in tax cuts somehow expands to $3 trillion over more years if the cuts are permanent. Meanwhile, if there is any economic growth, the real amount of foregone revenue is $750 billion over 10 years. Tying this back to your post from earlier today (4/25), context is important. But for both parties, not just those advocating for less onerous taxes and a smaller government.

Posted by: Jay | Apr 25, 2018 6:40:01 PM

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