Debt, Taxes, Growth, and the GOP Con Job
The comments above & below is an edited and abridged synopsis of an article by David Stockman
There’s a con job taking place in Washington as a desperate mob of Republicans attempts to enact something—anything—that can be vaguely labeled tax reform/tax cut. And for a reason that lies only slightly below the surface.
They are scared that the political train wreck in the Oval Office will put them out of business for years to come, so they are attempting to erect a shield of legislative accomplishment that can be sold in 2018 as the work of the GOP Congress.
But threadbare theories and untoward effects are just that; they can’t be redeemed by the claim that this legislative mess is being jammed through for the benefit of the rank and file Republican voters, and especially not for the dispossessed independents and Democrats who voted for Trump out of protest against the failing status quo.
To the contrary. The GOP tax bill is of the lobbies, by the PACs and for the money. Period.
Stockman examines the US income tax situation in detail, and finishes with, “At the end of the day, the GOP tax bill boils down to borrowing more than $1 trillion from the American public in order to pay higher dividends to wealthy private stockholders. And that’s a real con job.”