One of the stories still dominating the news is the last push by the Republican Party to steal $billions from poor and middle classes and give it billionaires and their giant corporations. It just passed out of the Senate Finance Committee a few minutes ago, and it is now free for a final vote in the Senate, perhaps on Thursday. If this passes, you’re going to need a chastity belt for your butt. Paul Krugman calls it a tax scam.
Donald Trump likes to declare that every good thing that happens while he’s in office — job growth, rising stock prices, whatever — is the biggest, greatest, best ever. Then the fact-checkers weigh in and quickly determine that the claim is false.
But what’s happening in the Senate right now really does deserve Trumpian superlatives. The bill Republican leaders are trying to ram through this week without hearings, without time for even a basic analysis of its likely economic impact, is the biggest tax scam in history. It’s such a big scam that it’s not even clear who’s being scammed — middle-class taxpayers, people who care about budget deficits, or both.
One thing is clear, however: One way or another, the bill would hurt most Americans. The only big winners would be the wealthy — especially those who mainly collect income from their assets rather than working for a living — plus tax lawyers and accountants who would have a field day exploiting the many loopholes the legislation creates… [emphasis added]
Inserted from <NY Times>
Paul Krugman goes on to evaluate the scam in detail. Please click through to read the rest.
Chris Hayes also covered this story with David Kay Johnston and others.
Let me reiterate when the tax cuts tank the economy, as they surely will, Republicans will expect the middle class and poor, YOU and ME, to pay for it.
RESIST THE REPUBLICAN REICH!!
7 Responses to “Tax Scam!”
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Nothing to add … except call, write, show up at your Senators, especially any Republicans up for reelection.
Good Gawd Almighty, we’re screwed!!Good comments, all. I can’t add anything that’s not been said.
re: yr pic: *AMEN!! Joanne
My only hope is that the Sheeples will FINALLY realize how badly the plutocrats love (and will continue to love) screwing them.
Not sure they’re bright enough to recognize that – but hope springs eternal.
PS: LUV the picture!
Thanks. It’s in honor of Keith’s signoff.
Photo: So, that’s what a pig looks like when it is lying.
Paul Krugman is spot on, so is Chris Hayes and his guests and so is every article I’ve heard and every news comment I’ve seen on the subject. This Tax Reform, for once aptly called the Cut Cut Cut bill by Drumpf, is a scam and will lead America into its next recession. And since America hasn’t been isolated enough by Drumpf from the rest of the world, we’re all going into a recession. And that in a time when ALL need to invest in durable green energy and stop this planet from melting down.
The GOP knows that if they fail to pass this tax reform before the end of the year, they’ll have failed their masters and not made the plutocrat coup of 2017 come to full fruition. They know their punishment will be harsh, and their party’s existence is imperiled, so they’ll do everything in their power to have all their senators vote “Yes” on this bill. This could be the moment those senators who are on their way out to have their moment of glory like McCain had with Drumpfcare. But that needs backbone and too little time to grow one in so…
Thanks all. Hugs!!
Love the pic JD!
Spot on Lona!