No, it wasn’t a typo. But it is also incremental — not a jump to $100k immediately, but a slow steady climb in that direction. If at some point it made sense to some people to stop that climb, it would just be a matter of convincing Congress to repeal the enabling legislation.
Keep in mind that The MITE is composed of people from varying political perspectives. Progressives certainly want any tax cuts to be “bottom up.” Libertarians are for tax cuts, any tax cuts, all tax cuts and this could be one of them. Conservatives like tax cuts that touch the top tiers, which this would do if it got to $100k before inflation turned $100k into today’s $20k.
Sorry to take so long to reply — I need to see if I can find a way to get Medium to notify me when there are comments!