Impact of Tax Proposals on Government Funding

Current tax proposals from candidates like Donald Trump are raising concerns about their potential impact on government funding. Trump's suggestion to eliminate taxes for veterans and first responders adds to an already extensive list of tax breaks that could drastically reduce government revenue, with estimates suggesting a cost of about $10 trillion. Experts argue that many of these proposals lack economic justification and are unrealistic in their ability to pass through Congress. Moreover, these tax cuts echo a trend initiated in 2017, where fiscal responsibility has taken a backseat, leading to an increase in national debt.