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Analysis Of The gop Tax Cut Scam


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  The latest insanity in Washington... This crop of Republicans have taken the madness to the next level. This one could destroy the future of an entire generation. It is time for us to stop fighting among each other and keep our eyes on those that are pilfering us with a smile. But you can stop it.

 

Stan Collender, a Forbes contributor, wrote a telling piece that should be our call to action titled "GOP Tax Bill Is The End Of All Economic Sanity In Washington." Many activists understand that the Republican tax cut scam is terrible. Collender adds a new dimension extrapolated to several years out and to reality-based politics which means if this bill becomes law, reversal would be less likely than the attempted ACA reversal.

 

There is no reason for tax cuts now. In fact, the current wealth and income distribution mean tax increases are needed to mitigate the aberration within capitalism that rewards many who have benefited not commensurate with their value or production. Collender writes,

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.

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.

This is actually the ideal time for Washington to be doing the opposite. But by damning the economic torpedoes and moving full-speed ahead, House and Senate Republicans and the Trump White House are setting up the U.S. for the modern-day analog of the inflation-producing guns-and-butter economic policy of the Vietnam era. The GOP tax bill will increase the federal deficit by $2 trillion or more over the next decade (the official estimates of $1.5 trillion hide the real amount with a witches brew of gimmicks and outright lies) that, unless all the rules have changed, is virtually certain to result in inflation and much higher interest rates than would otherwise occur.

 

He concludes with several inconvenient truths.

  • The $1 trillion a year budget deficit will not be the result of cyclical changes that will be reversed when the economy improves. These will be permanent structural deficit increases.
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  • The tax hikes that will be needed to resolve the structural imbalance between federal spending and revenues will be impossible for political reasons.
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  • Whenever the U.S. economy grows more slowly than expected or there's a downturn, an annual deficit of $2 trillion could easily become the norm.
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  • The federal government will have far less ability to respond to economic downturns unless previously unimaginable and politically intolerable deficits, tax increases or spending cuts suddenly become acceptable.
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  • Reduce the national debt? As they say in New York, fuhgeddaboudit at least in the next decade.
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  • Much more national debt plus rising interest rates means interest on the national debt will be the fastest growing part of the federal budget.
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  • Without massive cuts in Social Security, Medicare and the Pentagon, it won't be possible to reduce federal spending enough to do more than tweak the deficit.
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  • Washington's ability to invest in anything new that will improve the economy (think infrastructure, education and medical research) will be far less given the already-high deficits.
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  • Even though the limits to monetary policy became obvious the past few years, the Federal Reserve will be the major economic policy maker in Washington over the next decade.

There are a lot of talking heads pushing fallacies about the Republican tax cut scam. It is time to listen to someone who understands the reality of the federal budget.

 

Stan Collender is not just a writer. He has been involved with the federal budget and congressional budget process throughout his entire career. In addition to being one of the few people who has served on the staffs of the House and Senate Budget Committees, he is the author of The Guide to the Federal Budget, which was published annually from 1982 to 2000 and was one of the most-assigned texts on the topic. He founded and edited Federal Budget Report, a newsletter that was published for almost two decades. He's also written weekly columns on the budget for NationalJournal.com and Roll Call and founded the Capital Gains and Games blog. In addition to his work as an executive vice president of a global communications agency, he's an adjunct professor at the McCourt School of Public Policy at Georgetown University. He has a Master of Public Policy degree from the University of California, Berkeley, and a B.A. in Politics and Psychology from NYU.

 

Call your politicians and make sure they understand you are educated and will let them pay if they pass this destructive bill. We will win if you all speak up.

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“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.”

 

I agree with the author that Trump’s economy is booming. However, I’m fearful that the markets are relying on tax relief to keep the rally going. 

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10 minutes ago, benson13 said:

 

Analysis Of The gop Tax Cut Scam

 

 

 

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stand_up_for_abortion_rights_180.png

 

 

"Republicans attack abortion rights whenever and wherever they can. Right now, it is through the Trump Tax Scam.

 

It is not enough that the bills moving through Congress would make deep cuts to the social safety net and raise taxes on middle- and lower-income families – all while giving Trump and his wealthy friends trillions in handouts. They would also strike an intentional blow to abortion rights by enshrining the language “unborn child” into the federal tax code.

 

Senate Democrats must push back on this attack on women with everything they’ve got. They should be calling out Republicans’ attempt to inject anti-abortion politics into the tax code and pledging to block any tax bill that contains the unborn child provision. If we speak out now, we can make sure this issue does not get lost among all the other horrible things in the tax scam. Can you add your name today?"

 

Tell the Senate: Block the anti-abortion provision in the Trump Tax Scam!!!

 

https://act.credoaction.com/sign/TaxScam_Personhood?t=2&akid=26059.12860983.F0HM87

 

 

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1 minute ago, neue regel said:

“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.”

 

I agree with the author that Trump’s economy is booming.

 

......Just as HAD been PREDICTED!!!!!!

 
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March 10, 2017

 

"President Trump* has inherited an economy that set a record Friday with 77 consecutive months of job growth, or, as he put it, a mess.”

 

Screen-Shot-2017-03-10-at-10.08.06-AM.pn

 

The bad news for Trump is that there isnt much he can do to speed this up.

 

Infrastructure spending would certainly help, but that's reportedly been pushed off for at least a year, and, given Republican priorities, might not happen at all. Tax cuts for the rich, meanwhile, don’t have much bang for the buck, stimulative-wise.

 

Other than that, it’s not an exaggeration to say that the extent of his economic policymaking has been taking credit for business decisions that companies had already made, in some cases years ago. That might get a lot of retweets, but it wont create any jobs.

 

The good news for Trump, though, is that there isnt much he can do to slow this down, either. The economy has its own momentum, and it’s hard to see what could knock it off.

 

All Trump has to do is nothing....which even an administration as dysfunctional as his might be able to do."

https://www.washingtonpost.com/news/wonk/wp/2017/03/10/the-obama-recovery-is-about-to-make-trump-look-good/?utm_term=.1a34a424387b

 

 

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March 10, 2017

 

"President Trump* claimed undue credit for ExxonMobil’s investment announcement — the latest example of the new president’s now-predictable formula: A company announces a U.S. jobs plan that predates Trumps presidency. The company gives a nod to Trump’s anti-regulation policies.

 

Trump then takes credit for bringing jobs back to the United States."

 

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https://www.washingtonpost.com/news/fact-checker/wp/2017/03/10/trump-keeps-claiming-hes-created-u-s-jobs-since-election-day-not-so/?utm_term=.c45ec7e0def9&wpisrc=nl_fact&wpmm=1

 

 

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March 16, 2017

 

"U.S. homebuilding jumped in February as unseasonably warm weather boosted the construction of single-family houses to near a 9-1/2-year high, suggesting the economy remained on solid ground despite an apparent slowdown in the first quarter.

 

The economy's fundamentals were further strengthened by other data on Thursday showing a drop in the number of Americans filing for unemployment benefits last week amid a tightening labor market. Though factory activity in the mid-Atlantic region cooled this month, manufacturers reported growth in new orders and difficulties finding qualified workers.

 

The data came a day after the Federal Reserve raised interest rates for the third time since the 2008 financial crisis. Fed Chair Janet Yellen told reporters that the U.S. central bank was sending a message that "we have confidence in the robustness of the economy and its resilience to shocks."

 

"The reports painted a mostly upbeat picture of the economy," said Daniel Silver, an economist at JPMorgan in New York."

http://www.reuters.com/article/us-usa-economy-unemployment-idUSKBN16N1LG

 

 

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May 4, 2017

 

"New applications for U.S. jobless benefits fell sharply last week and the number of Americans on unemployment rolls hit a 17-year low, pointing to a tightening labor market that could allow the Federal Reserve to raise interest rates next month.

 

"Firms remain extremely reluctant to lay off labor. There is nothing here that changes our views and the labor market data remain supportive of a further rate increase in June," said John Ryding, chief economist at RDQ Economics in New York.

 

Jobless claims have now been below 300,000, a threshold associated with a healthy labor market, for 113 straight weeks. That is the longest such stretch since 1970, when the labor market was smaller.

 

The labor market is close to full employment, with the unemployment rate at a near 10-year low of 4.5 percent.

 

Unit labor costs, the price of labor per single unit of output, increased at a 3.0 percent pace in the first quarter after rising at a 1.3 percent rate in the fourth quarter.

 

Compared to the first quarter of 2016, unit labor costs rose at a 2.8 percent rate, suggesting wage growth was picking up."

http://www.reuters.com/article/us-usa-economy-unemployment-idUSKBN1801IU

 

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this has got to be the dumbest thing Goofy's ever said...its obvipus he knows nothing about any of the gop Tax Cuts for the Top 1%/Corp's

 

 

 

Goofy

Liberals can't stand the idea of Americans keeping more of their own money, and government getting a penny less

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5 minutes ago, benson13 said:

this has got to be the dumbest thing Goofy's ever said...its obvipus he knows nothing about any of the gop Tax Cuts for the Top 1%/Corp's

 

 

 

Goofy

Liberals can't stand the idea of Americans keeping more of their own money, and government getting a penny less

 

Sadly, you have NO IDEA of what is REALLY in this bill.

 

Because, if you did, your F'UCKING NOSE WOULDN'T BE GROWING FROM THE LIES YOU ARE TELLING!!!!

 

Relying on what you handlers and manipulators TELL YOU is where you get in trouble, s'hitstain, but you DO  IT EVERY F'UCKING TIME and we just keep laughing at you.

 

YOUR LIE is what WAPO gave your Dhums 5 PINOCCHIO'S!!

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