Republicans say they are nearing deal on Trump's tax cuts, divided on cost : neoliberal

To continue, let's walk through the steps to calculate the inflation-adjusted cost of the 2017 Trump tax cuts, then we'll compare that with the 2024 USAID budget.

Step 1: Original Cost of the Tax Cuts

The original cost of the Trump tax cuts in 2017 was about $190 billion per year.

Step 2: Applying Inflation

We need to account for 2.1% inflation annually from 2017 to 2024 (a 7-year period). The formula to adjust for inflation is:

[

\text{Adjusted Cost} = 190 \times (1 + 0.021)^7

]

Step 3: Calculating the Inflation-Adjusted Cost

Now, let's calculate that adjustment:

[

\text{Adjusted Cost} = 190 \times (1.021)^7 \approx 190 \times 1.158 \approx 220.02 \text{ billion dollars}

]

So, the inflation-adjusted cost of the tax cuts in 2024 dollars is approximately $220 billion per year.

Step 4: Comparing with USAID Budget

• 2024 USAID budget: $30 billion

• Inflation-adjusted tax cut cost (2024): $220 billion

The cost of the 2017 tax cuts in 2024 dollars is significantly higher than the entire USAID budget for 2024.

Step 5: Converting to "Fiscal Responsibility"

Now, if we want to express this difference in terms of "Fiscal Responsibility" (as you requested), we divide the inflation-adjusted tax cut cost by the USAID budget:

[

\text{Fiscal Responsibility} = \frac{220 \text{ billion dollars}}{30 \text{ billion dollars}} \approx 7.33

]

So, the inflation-adjusted cost of the tax cuts for one year in 2024 is approximately 7.33 times the entire 2024 USAID budget. You can think of this as 7.33 "fiscal responsibilities" in terms of USAID's budget.

Let me know if you'd like to explore this further or need additional information!

Snapshots:

https://old.reddit.com/r/neoliberal/comments/1ik108q/republicans_say_they_are_nearing_deal_on_trumps/:

• undelete.pullpush.io

• ghostarchive.org

• archive.org

• archive.ph (click to archive)