Brilliant repub tax strategy...greed again.

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Brilliant repub tax strategy...greed again. - 9/21/2017 9:18:10 PM

MrRodgers

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Joined: 7/30/2005
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Lowlights:

Republicans claim that a $1.5 trillion tax cut over 10 years won’t further explode the deficit because it will pay for itself through increased economic growth. Empirical evidence over the last four decades establishes the lunacy of such a claim. The cumulative deficit tripled under President Ronald Reagan and doubled under George W. Bush, while it grew more slowly under Bill Clinton and Barack Obama, under whom some tax rates were increased.

And yet here they go again. If the definition of insanity is doing the same thing over and over again and expecting a different result, then either the Republican Party is insane or it believes that the American people are incurably gullible.

HERE

The Republican lawmakers, under mounting pressure to score a legislative win on taxes, say a tax cut of this magnitude will stimulate economic growth enough to offset any deficit impact.

Yet critics say a deficit-financed tax cut is at odds with longstanding Republican calls for fiscal discipline, including that tax cuts not add to the ballooning federal deficit. The federal debt topped $20 trillion earlier this month and is projected to grow by another $10 trillion over the next decade.

Passing a budget resolution is a crucial step for unlocking an arcane procedural tool that would allow Republicans to push a tax overhaul through the Senate with a simple majority and without the support of Democrats. Republicans have said they want a bill passed by the end of the year.

Republicans have been wary of sharing too many details given the intense lobbying crush that is expected once it becomes clear which industries stand to win or lose valuable provisions currently ingrained in the tax code. Those include things like the mortgage interest deduction and the deduction for charitable donations.

“The president and members of Congress have spent years warning of our large and growing national debt and have said their goal was to pursue tax reform that doesn't make that debt worse,” said Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget. “It is extremely disheartening that the Senate budget may be abandoning that commitment.”

The tax cuts, she added, “could result in debt as large as the economy in just over a decade and take us into uncharted waters after that.”

HERE

The con game is the same as throughout the economy. This is unmitigated greed.

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Under capitalism, man exploits man. Under communism, it's just the opposite.
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