Tag Archives: tax cuts

Merry Christmas Rich People!

As promised Donald Trump delivered on his great big tax cut. As for the rest of us—we got conned. The rich have something to celebrate this Christmas, which was why the Republicans worked so hard to get it done this week. They want to make sure that their donor class has a wonderful Christmas. Oh, and Donald got a great big real estate bonus to put under his own tree.

Most of you already know how the Republicans plan on doing the balancing act for these tax cuts—they are going to take on “entitlement reform” for next year. Which means that they are cutting taxes for the rich and cutting benefits for the middle-class and working poor.

Now is the time to PAY ATTENTION! Thirty five years ago we were sold a trickle-down economics hoax in which “a rising tide would lift all boats”. The result of that swindle is the greatest income inequality since the Great Depression. The results of that was the Great Recession of 2008. And now, they are laying the groundwork for even greater income inequality and for another recession—which probably won’t happen until after the 2020 election. Their claim is that this tax cut will stimulate the economy and thus pay for itself.

Now that the Republicans have perfected gerrymandering for congressional districts, they are working on ‘gerrymandering’ their legislation. For instance, this tax bill is designed to punish blue states more than red states by disallowing state and local tax deductions from federal taxes. It is also gerrymandered so that the tax cuts on the middle-class expire after a few years, while making the corporate and estate tax cuts permanent.

There is just enough sweetener in this tax bill to provide a sugar high for the middle-class to get the Republicans through the 2018 elections, and won’t collapse the economy until after 2020. Republicans are betting that voters have a short memory. By the time the horrendous results of the tax hoax become fully felt, the GOP will place the blame on the Democrats and their voters will believe them.

The truth is now on the table: Republican politicians don’t care about deficits when cutting taxes for the rich—this tax bill will add 1.5 trillion dollars to the national debt. They only care about deficits when it comes to programs which help the poor, the sick, and the elderly. Within a few years the debt will rise and Paul Ryan, or one of his cronies, will claim that we must ‘reform’ Social Security and Medicare, because deficits are out of control.

There is one more huge bonus for Republicans gerrymandered into this tax bill: it repeals the individual mandate in the Obamacare program. Which means that some insurance company will now sue, because you can’t require them to cover preexisting conditions without an individual mandate—then the Supreme Court will vote 5 to 4 to repeal Obamacare.

The working class should keep in mind that of all the promises that Trump made, and all the legislation which has been proposed, this is the only bill that he worked hard to pass. He is literally laughing all the way to the bank. If you saw today’s celebration, you never saw the Republican politicians so giddy. And their donors just cashed in on their campaign investments. Millionaires and billionaires are going to have a great Christmas.

The picture of the Grinch is for the rest of us.

Would You Save the Drowning Child? The GOP on Tax Cuts and Health Care.

The first thing you learn in law school is that you make a lot more money defending the rich than you do defending the poor. This is the Republican Politicians approach to government. They know that if they cut the taxes of the rich, their donor class will reward them handsomely for it. This is how people like Mitch McConnel and Paul Ryan have become millionaires on a government salary.

Peter Singer sketches a moral lesson in a parable: The Parable of the Drowning Child.

Let’s say that you were walking past a muddy pool of water, wearing a brand new $2000 suit. You saw a child drowning in the pool, and you didn’t have time to take off your suit in order to jump in and save her. The dilemma is this: you ruin your suit and save the child’s life, or you save the child’s life and it costs you a brand-new suit. Would you save the drowning child?

Most of us would. Millionaires would not. And this is the Republican politicians approach to government, as opposed to the Democrats. (I want everyone to keep in mind that I make a distinction between Republican politicians and Republican voters—because I think that most of the voters have been duped). Everything that Republican politicians do in Washington is meant to take from the poor and give to the rich.

Democrats are trying to ‘save the drowning child’—Republicans are out ‘buying new suits’.

And their latest attempt at repealing Obamacare smuggled into their tax cut for the rich, proves this to be true. Even though this attempt at cutting taxes for the rich, while cutting health care for the poor will still add to the government debt, they are trying to make it palatable to some of their politicians. While they hope to fool enough of us into believing that those tax cuts for the rich are actually good for the rest of us. Trickle-down economics: will we get fooled again?

Don the Con ran for president on a nationalistic working-class platform. Even though he has never shown anything but disdain for the working-class his whole life, a great many of the working-class helped put him in office (given the undemocratic Electoral College). Since he has taken office, he has not even proposed one thing to help the working-class. But what he is most excited about is the new tax cut proposal. So his is daughter.

Ivanka the Con, who was going to campaign for women’s rights (yea right!) is now out campaigning for these tax cuts. Why? it is simple—it will make her millions of dollars, given the repeal of the Estate Tax. This tax only affects the richest of the rich, and there are a few billionaire families pushing their minion Republican politicians in Washington to ensure that it gets done—by any means necessary. The two main tax cuts in this new GOP bill: the estate tax and the corporate tax. How will this help working families? It won’t. But they will say that it will. Who does this bill hurt? People on Medicaid, Medicare, and anyone else who needs a little assistance to afford health care.

How many more ‘drowning children’ is it going to take before the Republican Voters admit that they have been conned?