In the current squabble over the Bush tax cuts which are scheduled to sunset this year, pundits and pols are calling to make them permanent. The Bush tax cuts, passed with reconciliation and Dick Cheney breaking the tie, were “temporary” because there wasn’t a corresponding spending cut to pay for them. The idea was that they would stimulate the economy. Well, that didn’t work and now we owe China to pay for those tax cuts.
But the idea to make them “permanent” is poli-speak. Tax rates are always changing. Clinton raised them. Bush 41 raised them. Reagan raised them (five times!) after he lowered them.
So the idea of “permanent” tax cuts is just political B.S. designed to pander to voters.