The future nightmare that awaits us all
Broken down in pieces you can understand
December 18, 2017
Chronicle news & opinion
(SEATTLE, WA.) -- This is one article that lays out the GOP "tax reform" game - both short and long term strategy - better than most we've seen to date.
It's the type of piece virtually every American will be able to understand and that is important given that "tax" stories are ones that usually leave most folks glassy-eyed.
Who can understand all that stuff? Well, this report breaks it down pretty darned good.
It's a piece by Jon Talton in the Seattle Times. Here's a sliver:
"This (GOP tax reform) is primarily a political and ideological act. The actual economics are negative. No credible analysis shows that the cuts will “pay for themselves.”
Resulting growth would be extremely modest...the richest are less likely to spend more in the consumer economy. Corporations would use any windfall to further enrich shareholders...the United States already collects lower corporate taxes than the norm among advanced nations...most of the benefits of individual rate reductions will go to the wealthiest — with taxes actually going up for lower-income Americans starting in 2021."
So what is the long game for Republicans in this $1.5 Trillion nightmare? They think they'll get what they've always wanted: "Republicans want more than to shower their wealthy patrons with additional money. They want to drown the federal government in the bathtub," as anti-tax activist Grover Norquist once famously said.
Rich folks who don't need government services have always wanted to kill those parts of government that provide services to those citizens that do need them. Strangle. Remember that angry, gritty, not nice word. Strangle. Dead. Gone. These are the people pushing this "tax reform" stuff.
Most average folks have no idea what a bad, bad thing this deal will be for this country and millions of Americans who want and need a government that functions for all Americans -- which is why you should read this story right here .
You also might also find this article here in The Guardian instructive. It's called ' Trump's tax bill has nothing to do with economics. It's brute-force politics.'
Here's the lead-in piece:
"The Republican party has achieved something nobody thought possible. They have taken the broken, regressive, loophole-riddled US tax code, and made it worse.
The Tax Cuts and Jobs Act of 2017 has nothing to do with economics. It is pure politics. Economists struggling to understand the unwieldy legislation are like biochemists attempting to explain contemporary ballet. Nobody seriously believes that the bill will boost growth. Everybody knows that it will massively increase the deficit...
....the legislation has been drafted at breakneck pace, with few opportunities for costings or analysis: a recipe for errors. Senator Elizabeth Warren joked that she spent more time choosing her new refrigerator than the Senate managed for tax reform."
Some interesting times await the average American and in particular those rock-bottom poor folks in the Rust Belt states and places down south that voted for Donald Trump because they thought he'd help them.
You guys thought you had no place to go but up? Barring some miracle, you are going to find out over time how wrong you were.