• Tips gratefully accepted here. Thanks!:

  • Recent Comments

    Catscatscats on VEEP Stakes.
    Kathleen A Wynne on VEEP Stakes.
    tamens on VEEP Stakes.
    William on VEEP Stakes.
    riverdaughter on VEEP Stakes.
    Kathleen A Wynne on Throw it against the wall, see…
    Ivory Bill Woodpecke… on Throw it against the wall, see…
    riverdaughter on Throw it against the wall, see…
    William on Throw it against the wall, see…
    Ivory Bill Woodpecke… on Throw it against the wall, see…
    Ivory Bill Woodpecke… on Throw it against the wall, see…
    bellecat on Throw it against the wall, see…
    William on Throw it against the wall, see…
    jmac on This is the plan.
    bellecat on This is the plan.
  • Categories


  • Tags

    abortion Add new tag Afghanistan Al Franken Anglachel Atrios bankers Barack Obama Bernie Sanders big pharma Bill Clinton cocktails Conflucians Say Dailykos Democratic Party Democrats Digby DNC Donald Trump Donna Brazile Economy Elizabeth Warren feminism Florida Fox News General Glenn Beck Glenn Greenwald Goldman Sachs health care Health Care Reform Hillary Clinton Howard Dean John Edwards John McCain Jon Corzine Karl Rove Matt Taibbi Media medicare Michelle Obama Michigan misogyny Mitt Romney Morning Edition Morning News Links Nancy Pelosi New Jersey news NO WE WON'T Obama Obamacare OccupyWallStreet occupy wall street Open thread Paul Krugman Politics Presidential Election 2008 PUMA racism Republicans research Sarah Palin sexism Single Payer snark Social Security Supreme Court Terry Gross Texas Tim Geithner unemployment Wall Street WikiLeaks women
  • Archives

  • History

    November 2017
    S M T W T F S
     1234
    567891011
    12131415161718
    19202122232425
    2627282930  
  • RSS Paul Krugman: Conscience of a Liberal

  • The Confluence

    The Confluence

  • RSS Suburban Guerrilla

    • It’s Kamala
      Back when Kamala was Attorney General, she worked closely with Beau. I watched as they took on the big banks, lifted up working people, and protected women and kids from abuse. I was proud then, and I'm proud now to have her as my partner in this campaign. — Joe Biden (@JoeBiden) August 11, 2020 … Continue reading It’s Kamala
  • RSS Ian Welsh

    • Cold War 2.0 Incoming
      Right, with the ban on Huawei using chips made with American manufacturing equipment (one of America’s last few places of absolute advantage); the bans of TikTok, Tencent and WeChat; the attempt to convince other countries to not use Huawei 5G; the arrest of the Huawei founder’s daughter for doing business with Iran along with the […]
  • Top Posts

The false premise behind tax reform

Go on, take the money and run. While we all fret about who’s going to get what after the donor appreciation bill gets passed, let us take a moment and ask ourselves:

Is it a good idea to take $1.5 trillion dollars out of the federal treasury?

Because we’re talking about taking the money that might have been used for infrastructure, schools and Medicare and handing it over to corporations who are under no obligation to invest in jobs or increase salaries.

Yep, we’re just supposed to trust them that lowering the corporate tax rate is going to mean more and better jobs. There’s actually no proof that this has ever worked but what the heck? Let’s just keep trying it without changing any parameters. And we’re not closing any loopholes. So, what we are really doing is permanently crippling the federal government from doing its job maintaining infrastructure and schools and Medicare for absolutely no ROI.

I challenge any Republican to find a quid pro quo in this tax reform package that says in effect, “we will give you this tax cut after we have proof that you have hired x workers at $$ over y period of time.” If you find it, please let me know.

What will happen instead is the state and local governments will need to pick up the tab for all the stuff that will be permanently underfunded. And it’s going to hammer the blue states hardest. Residents of New Jersey, California, New York and Massachusetts are going to be doubly screwed because they’re going to lose part or all of their SALT deductions and the value of their real estate is bound to fall. What will make them want to cough up the extra money for roads and schools and teachers? Sooner or later, we’ll all be like Alabama.

There is no reason why these wealthy and well connected people need to care about what happens to the rest of us. In fact, if anything, this tax reform package practically guarantees that they will just take the money and run.

Now is the time that we should ask ourselves if we should let them do that without any strings attached.

6 Responses

  1. Look at Kansas and what a disaster it has become from doing the exact same thing the GOP is proposing to do for the entire country.

    • They don’t want to carry the rest of the country. That’s what Atlas Shrugged was all about.
      The state religion is Objectivism.

      • Another bad thing Russia did to this country. It traumatized Ayn Rand into madness, and she fled here to spread her madness.

  2. And now for something completely off topic: 😛

    Do you suppose these guys lost a bet? 😆

  3. People need to wake up to the fact that if the R’s are now adding automatic triggers to reverse some (but which) tax cuts if the economy goes does not perform as they say it should (fat chance it will), then the whole plan is garbage to start with.

Comments are closed.

%d bloggers like this: