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The American Compass Podcast

No Tax Cut Is Free with Oren Cass and Chris Griswold

Feb 14, 2025
Join Chris Griswold, a policy director at American Compass, and guest host Drew Holden in a fascinating deep dive into tax policy. They dissect the implications of the expiring Tax Cuts and Jobs Act, revealing the flaws behind anti-tax ideologies. Expect insights on the recently cut corporate tax rates and the effects of trade policies that favor China. The conversation humorously unpacks common myths about tax cuts, advocating for a balanced, fiscally responsible approach to economic challenges and exploring innovative reforms in higher education funding.
54:39

Podcast summary created with Snipd AI

Quick takeaways

  • The impending expiration of the Tax Cuts and Jobs Act raises crucial questions about fiscal responsibility and budget implications amid soaring deficits.
  • There is a significant ideological shift within the Republican Party regarding tax cuts, with growing recognition that they do not automatically stimulate economic growth.

Deep dives

Tax Cuts and the Fiscal Challenge

The Tax Cuts and Jobs Act (TCJA) is approaching its expiration date, raising significant questions about its future and implications for fiscal policy. The Act, initially passed without concern for its deficit impact, is now seen as a potential burden on an already strained budget with burgeoning deficits nearing $3 trillion annually. Many Republicans have begun to recognize that previous beliefs about tax cuts paying for themselves are no longer tenable, indicating a shift towards acknowledging fiscal responsibility. This recognition creates a complex scenario where the desire to extend tax cuts clashes with the pressing need for fiscal prudence, particularly given the high interest rates and declining government revenues.

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