Republicans don’t care about budget deficits, and never did. They only pretend to care about deficits when one of two things is true: a Democrat is in the White House, and deficit rhetoric can be used to block his agenda, or they see an opportunity to slash social programs that help needy Americans, and can invoke deficits as an excuse. All of this has been obvious for years to anyone paying attention.
.. And it was also predictable that they would return to deficit posturing as soon as the deed was done, citing the red ink they themselves produced as a reason to cut social spending.
.. Hatch declared his support for the program, but insisted that “the reason CHIP’s having trouble is because we don’t have money anymore” — just before voting for a trillion-and-a-half-dollar tax cut that will deliver the bulk of its benefits to the richest few percent of the population.
He then went on to say, “I have a rough time wanting to spend billions and billions and trillions of dollars to help people who won’t help themselves, won’t lift a finger and expect the federal government to do everything.”
.. The House version of the big tax cut would eliminate the estate tax entirely; the Senate version would double the level of wealth exempted from the tax, to $22.4 million for a couple. How can this be justified if it’s supposedly hard to find money for children’s health care?
.. The important thing to realize, however, is that the hypocrisy and contempt for the public we’ve seen in the past few days is just the beginning.
.. offsetting those deficits will require going after the true big-ticket programs, namely Medicare and Social Security.
.. Republicans have given their donors what they wanted — and now they’re coming for your benefits.
No Wonder Millennials Hate Capitalism
The anti-Communist Victims of Communism Memorial Foundation was alarmed to find in a recent survey that 44 percent of millennials would prefer to live in a socialist country, compared with 42 percent who want to live under capitalism.
.. But given the increasingly oligarchic nature of our economy, it’s not surprising that for many young people, capitalism looks like the god that failed.
.. the rich people who would benefit from the measures passed by the House and the Senate tend to be older (and whiter) than the population at large.
Younger people would foot the bill, either through higher taxes, diminished public services or both. They stand to inherit an even more stratified society than the one they were born into.
.. there’s also an ideology at work, one that sees the rich as more productive and deserving than others... consider what Senator Chuck Grassley, Republican of Iowa, told The Des Moines Register about the need to repeal the estate tax, which falls only on heirs of multimillionaires and billionaires. “I think not having the estate tax recognizes the people that are investing, as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies,” he said... Senator Orrin Hatch .. He went on to rant against the poor: “I have a rough time wanting to spend billions and billions and trillions of dollars to help people who won’t help themselves — won’t lift a finger — and expect the federal government to do everything.” It was unclear whether he was talking about the nearly nine million children covered through CHIP or their parents... You don’t have to want to abolish capitalism to understand why the prospect is tempting to a generation that’s being robbed.
Why the GOP Tax Bill Is So Unpopular
The public seems to be against the plan precisely because they know what’s in it.
President Donald Trump says he doesn’t want to cut taxes on the rich. His Treasury Secretary Steven Mnuchin said he doesn’t want to cut taxes on the rich. The Democratic Party says they don’t want to cut taxes on the rich. Americans saythey don’t want to cut taxes on the rich.
The House and Senate Republican tax bills are taking a different approach: They are cutting taxes on the rich—significantly.
.. Nearly 50 percent of the benefits of the Senate tax cut would go to the top 5 percent of household earners in the first year of the law, according to the Tax Policy Center. By 2027, 98 percent of multimillionaires would still get a tax cut, compared to just 27 percent of households making less than $75,000.
.. Republican politicians, whose campaigns are often financed by wealthy conservative donors like Sheldon Adelson and the Koch family, are worried that a failure to cut taxes on corporations will have a detrimental effect on contributions from the party’s corporate-libertarian wing. “My donors are basically saying, ‘Get it done or don’t ever call me again,'” Representative Chris Collins
.. The “financial contributions will stop” if the GOP fails to deliver corporate tax cuts, Senator Lindsey Graham, a Republican from South Carolina, told NBC News. “The donor class … has concluded that the inaction of this administration and Congress is totally unacceptable,” Josh Holmes, the former chief of staff to Senator Mitch McConnell, told CNN.
.. David Frum wrote this week, “the broad outline of tax reform seems obvious: Lower corporate rates to somewhere between 25 and 30 percent, the developed-world norm [and] tighten collection so that the rate is actually paid.”
.. that very idea has already been proposed by President Barack Obama in 2012.
Republicans immediately rejected it, just as they rebuffed the president’s inclusion of ideas hatched at the conservative Heritage Foundation in the Affordable Care Act.
The end of shame
“I never wonder to see men wicked, but I often wonder to see them not ashamed,” Jonathan Swift observed
.. it feels, more and more, that we are experiencing the end of shame.
.. two oddly connected stories: Alabama Republican Senate nominee Roy Moore and the tax bill.
.. For some, including Senate Majority Leader Mitch McConnell (R-Ky.) and most of his colleagues, the answer has been a welcome yes.
.. To conclude that electing an accused child molester to the Senate is preferable to seating a Democrat is the epitome of shamelessness.
.. The White House line on Moore has descended from “if/then” to “let the voters of Alabama decide” to “we need the seat.”
.. Kellyanne Conway, who had once touted the no-Senate-seat-more-important line, found something even more important than defeating an accused child molester: “I’m telling you that we want the votes in the Senate to get this tax bill through.”
.. Mick Mulvaney .. once styled himself a deficit hawk and now is pushing a measure projected to add at least $1.5 trillion to the debt over 10 years.
.. the bill is so studded with gimmicks that the real cost is more like $2.2 trillion.
.. Mulvaney’s brazen willingness to admit that the price tag is phony — specifically the notion that individual tax cuts will expire. Mulvaney, making the rounds of the Sunday shows, felt no need to dissemble. “One of the ways to game the system is to make things expire . . . a lot of this is a gimmick,” he told NBC. And, on CNN, “It’s simply trying to essentially manipulate the numbers and game the system.” In other words, we’re lying to you to ram this through, and we’re not even going to bother to hide it.
.. If hypocrisy is the tribute that vice pays to virtue, what does it say, exactly, when our most senior public officials feel no such compunction?