The Republicans in the House and Senate have been attempting to sell this hot mess of tax giveaways to their corporate and wealthy donors as some sort of magical unicorn that will lift us all to a marvelous new place. They’ve rammed this obscenity through without hearings, testimony, and almost zero analysis that is meaningful and they’ve done it so quickly that many of the members don’t even know what’s in it. They’ve lied so blatantly about its mystical economic renewal properties that it should sound clanging alarm bells in every reasonable person’s head.
Here’s what Forbes Magazine said about this con job: “If it’s enacted, the GOP tax cut now working its way through Congress will be the start of a decades-long economic policy disaster unlike any other that has occurred in American history.”
The article also went on to say…
“There’s no economic justification whatsoever for a tax cut at this time. U.S. GDP is growing, unemployment is close to 4 percent (below what is commonly considered “full employment”), corporate profits are at record levels and stock markets are soaring. It makes no sense to add any federal government-induced stimulus to all this private sector-caused economic activity, let alone a tax cut as big as this one.”
There is also a pile of destructive add-ons that make me hold my nose and turn away, like killing the ACA mandate, opening the Arctic Refuge to drilling, and destroying the Johnson Amendment which keeps religion out of politics. But here’s the ultimate goal that those on the right have long coveted; without massive cuts to Social Security, Medicare, Medicaid and other needs based programs, it won’t be remotely possible to reduce federal spending enough to do more than tweak the deficit. And that’s the real aim of this awful bill.
This kind of trickle down, voodoo economic stuff hasn’t worked at all, ever.