In my post Stop Dealing Trump I assert that the objective of congressional republicans is to “funnel money to rich friends and to hell with the rest of the world.” This is personified in E.J. Dionne’s piece titled Stop obsessing about tax cuts
To paraphrase Dionne, It is a victory for Republicans that the political conversation is all about taxes. This is entirely wrong, and it’s essential to challenge the whole premise of the debate.
Here are some exerts:
The United States does not need tax cuts now. Reducing government revenue at this moment will do far more harm than good. Conservatives are proving definitively that they don’t care in the least about deficits. And their claims that tax cuts will unleash some sort of economic miracle have been proved false again and again and again.
But there is an even bigger objection: The opportunity costs of this obsession are enormous because it keeps us from grappling with the problems we really do need to solve.
Ever since Trump’s election, discussion of the vast divides in our nation between prosperous regions and those battered by economic change have filled our newspapers, websites and airwaves. There is simply no way that shoveling out $2.6 trillion in business tax cuts over 10 years (and in a largely undifferentiated fashion) does anything to help places that are ailing.
On the contrary, this farrago of corporate goodies — along with the absurd repeal of the estate tax and various other benefits showered on the well-off — would only aggravate existing inequalities. And by depleting the government’s coffers, it would make it much harder to finance public initiatives in education, job training and other spheres to promote mobility for Americans who are lagging behind.
There is more good stuff. Read it!
Last Updated on December 24, 2017 by Stephen Chapel