Finally, the tax cuts you’re talking about, much appreciated! To start, I want to be fair and you did say these are only highlights and their may be other tax cuts you’re referring to, but just going to look at each of these separately, not going to try to guess anymore about tax cuts you’re referring to. The bolded items are not tax cuts, so we can remove them from the discussion - it may be true that they’re incredible for small businesses, helped boom the economy, without them the economy would’ve collapsed into the dark ages, etc. But they still aren’t tax cuts, so not relevant to your original point that:
As for the others,
Looks like you’re referring to IRC Section 179 which was made permanent in 2015 (under Obama). The deduction had been extended year after year, often very late in the year, but was only done for one year at a time. Making the deduction permanent was helpful to small businesses trying to plan to expend capital. So, it definitely was helpful to small businesses that it was made permanent, but it wasn’t an additional tax cut per se. If you’re referring to 168(k) or another provision entirely, it would be nice to know so that we can have a meaningful discussion.
Just for perspective though, if you find this to be an important provision for small businesses, in the beginning of Bush’s presidency, the allowable deduction was $25k. When Bush left office, the allowable deduction was $250k. When Obama left office, the allowable deduction was $500k. The TCJA increased the limit to $1m. So…not like Obama did anything particularly special here with respect to the actual tax cut.
I don’t credit these increases to Bush, Obama, or Trump.
Assuming you’re referring to Qualified Small Business Stock, this was in fact permanently increased under Obama. But this is a reduction in income for people who invest in small businesses and sell their stock. These aren’t mom and pop stores that are benefiting from this. The people likely to benefit are the entrepreneurs and early investors in companies that sell for significant gains. While this may benefit small business by encouraging investment, the people directly benefiting from the tax cut are unlikely to be middle class (at least at the time they are benefiting from the tax cut). They’re way more likely to be the uber-wealthy, especially because, under Obama, they removed the AMT modification under this Section.
I (sort of) believe this exists, just not familiar with what you’re referring to, so can’t comment on it specifically.
I know you weren’t directing this at me, but just to counter in advance one of your ad-hominem attacks, from what I gather you and I are ideologically similar in terms of politics (more similar than meed and I at least), so, I’m not blinded by that.