Mack: Budget's Public Transit Tax Is Hit to Middle Class

The transcript discusses the removal of tax exemptions and its impact on the middle class, highlighting the government's approach to economic projections and deficit forecasts. It critiques the government's spending and tax changes, noting a cautious approach amid signs of recovery. The discussion also covers tax expenditures, suggesting improvements in how they are presented to better reflect spending cuts rather than tax increases.

What is the government's action regarding tax exemptions, and who is primarily affected?

• The government is maintaining current exemptions for all.

• The government is introducing new exemptions for the wealthy.

• The government is removing exemptions, impacting the middle class.

• The government is increasing exemptions for small businesses.

How does the speaker feel about the government's readiness for major changes?

• They believe the government is fully prepared.

• They are indifferent about the government's readiness.

• They think the government is over-prepared.

• They feel the government is not ready for major changes.

What is the speaker's opinion on the budget's trajectory towards balance?

• They are unsure about the trajectory.

• They think it has already achieved balance.

• They believe it is far from achieving balance.

• They are confident it will achieve balance soon.

What does the speaker suggest about the presentation of tax expenditures?

• They should be hidden from public view.

• They should be presented as new taxes.

• They should be presented as tax increases.

• They should be presented as spending cuts.

What is the speaker's proposed benefit of changing the presentation of tax expenditures?

• It would increase public criticism.

• It would shift perception to spending cuts.

• It would result in more government spending.

• It would lead to more tax increases.