“The Great American Tax Heist”
(IndieDems has not tried to cover in detail the Congressional debate over the travesty of the Trump/Republican tax bill and its passage into law. A plethora of voices much more informed and eloquent than ours have performed that task well. Presented below is the commentary by Charles Blow we believe is most worth presenting verbatim. Virtually every sentence and paragraph stands alone as a pithy put down of the monstrosity the Republicans wrought. But we have also included links to a selective sampling of others. Of those, we highly recommend With This Tax Bill, the GOP has finally Killed Family-friendly Conservatism, not only because of its analytical worth, but because it was written by an analyst at a conservative think-tank. With no expectations it will impress our own Georgia GOP yahoos, Johnny Isakson, David Perdue, Barry Loudermilk, and Karen Handel. They’ve faithfully carried out their sole goal, to enrich the coffers of their mega-buck contributors, and the rest of us be damned).
The Great American Tax Heist by Charles M. Blow (New York Times)
With their tax bill, Donald Trump and the Republicans are raiding the Treasury in plain sight, throwing crumbs to the masses as the millionaires and billionaires make off with the cake.
America should be aghast not only at the looting but also at the brazenness of its execution.
It seems that for as long as I can remember, Republicans have been wringing their hands about deficits. And yet in this budget, they willingly, willfully exploded the deficit, not for public uplift or rebuilding America’s infrastructure but rather on the spurious argument that giving truckloads of money back to businesses will spark their benevolence.
According to the government’s own nonpartisan Congressional Budget Office, the tax bill will lead to “an increase in the deficit of $1,455 billion over the next 10 years.”
But be sure, when this bill leads to these predicted deficits, Republicans will return to their sidelined deficit rhetoric armed with a sickle, aiming the blade at the social safety net, exacerbating the egregious imbalance of the tax bill’s original sins.
That’s the strategy: Appease the rich on the front end; punish the poor on the back. Feed the weak to the strong.
The callousness of this calculation is hidden in the arguments over estimates and evidence, but it is not lost. Most Americans see through this charade. According to a CNN/SSRS poll released this week, most Americans disapprove of the tax bill. Furthermore, most believe the bill will benefit the wealthy, in general, and Trump and his family, in particular.
Make no mistake: No matter how folks try to rationalize this bill, it has nothing to do with a desire to help the middle class or the poor. This is a cash offering to the gods of the Republican donor class. This is a bill meant to benefit Republicans’ benefactors. This is a quid pro quo and the paying of a ransom. (Continued below)
By Jonathan Coppage, a contributing editor to the American Conservative. “If the Republican tax bill…is signed into law, the GOP will have become its own caricature.” (The bill, of course, was signed into law)
“As Business Insider put it: This theory — that the bill will pay for itself and even erode existing debt through increased economic growth — is unsubstantiated. Virtually no nonpartisan studies or experts have found that the GOP bill, which slashes the corporate tax rate from 35% to 21%, will be deficit-neutral or decrease the debt-to-GDP ratio.”
“The GOP tax plan is remarkably unpopular. According to the latest NBC poll, only 24% of the public thinks it’s a good idea; 63% believe that it’s mainly for the rich and corporations [editor: it is], while only 7% think it’s aimed at the middle class.”
“Those rich insiders whom Trump walloped on his way to the White House will get more than 80 percent of this tax plan’s benefits at the end of a decade. Over that same period, most Americans will see their tax rates go up. Middle-class voters and small-business owners already burdened by prohibitive medical bills, crushing student debt or high state and local taxes will face the greatest burden, while President Trump and his family will waltz away with a windfall that could reach hundreds of millions of dollars.”