**🚨 #TrumpTaxCuts: 5 Years Later – Boom or Bust? 💸**

Love it or hate it, the 2017 Tax Cuts & Jobs Act remains one of the most debated policies in recent history. As we mark half a decade since its rollout, let’s break down the impact:

**🔑 Key Features:**

✅ **Corporate Tax Rate Slashed**: Dropped from 35% to 21% – the largest reduction in decades.

✅ **Pass-Through Deductions**: 20% write-off for small businesses & freelancers.

✅ **Doubled Standard Deduction**: From $6.5k to $13k for individuals.

✅ **Child Tax Credit Boost**: Up to $2,000 per child.

⚠️ **SALT Cap**: State/local tax deductions limited to $10k (hit high-tax states hard).

⚠️ **Sunset Clause**: Most *individual* cuts expire in 2025 (corporate cuts are permanent).

**👍 Supporters Say:**

▪️ **Jobs & Growth**: Unemployment hit 50-year lows pre-pandemic; GDP surged.

▪️ **Wage Hikes**: Companies reinvested savings into bonuses & expansions.

▪️ **Global Wins**: U.S. became more competitive, luring overseas profits back home.

**👎 Critics Argue:**

▪️ **Tilted to the Top**: 20% of benefits went to the wealthiest 1% (Tax Policy Center).

▪️ **Deficit Surge**: Added ~$1.9T to debt (CBO), with little growth to offset it.

▪️ **Trickle-Down?**: Wage gains lagged vs. corporate stock buybacks ($1T+ spent).

**💡 The Big Question**: Were these cuts a **long-term engine** or a **missed opportunity** to fix inequities? With inflation now biting, should future reforms focus on relief for working families or maintaining business incentives?

**🗣️ YOUR TAKE**: Did you see bigger paychecks? Should the expiring cuts stay or go? **#Economy #TaxReform #TCJA**#TrumpTaxCuts