Scotties Toy Box

January 14, 2020

The Republican tax law is bringing in far less money than claimed—but it’s not an accident

Filed under: Criminal, Economics, Fascism, Greed, History, News, Political, Questions, Reason — Scottie @ 12:05

It is important because, as we all know, the overall effort has ended in a budgetary disaster. That is not overstating things; government coffers are expected to be down a trillion dollars in 2020, which is less a fiscal problem than an act of budgetary terrorism.

“Republicans were racing to secure a legislative victory during Mr. Trump’s first year in office.” Eh. Republicans were racing to use unified Republican government to push forward a longtime dream of the Ayn Rand wing of the party: murder effective government through orchestrated neglect. Rep. Paul Ryan, the House Speaker at the time, had goals taken directly from Grover Norquist and other hard-right conservatives who have for decades expressed open contempt at government doing anything for anyone that did not involve bombing them; the explicit technique favored has been, since Reagan, to slash government revenues to unsustainable new lows, then use the resulting deficits to argue that steep, vicious cuts are required—for social services. For food aid, for Social Security, for Medicare. For infrastructure: Why should the government build transportation networks and hubs, rather than let the “free market” decide which roads should be built and how much it could cost to drive on them? For education, and science, and moon landings and the rest of it.

That leads to the more fundamental problem: It seems an error to claim that any of this was unforeseen. It was certainly foreseen. That Republican revenue claims, and Republican claims that “new” taxes on corporations would balance out the gargantuan new tax cuts given to the topmost one percent, were inflated if not outright fraudulent was warned of from the first drafts.

The law was “by all accounts, sloppily written”, says the Times, which is the reason that lobbyists have been able to absolutely gut much of the purported loophole-closing Republicans bragged of. This wasn’t an accident. It could have been patched before the bill was voted on; it was not.

More at the link above.  We are screwed if we do not undo the huge damage this and other giving of the US treasury to the wealthy and corporations.    Hugs



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