Wednesday, November 29, 2017
On the tax bill-- two simple truths
1) If you want to provide jobs for Americans, you can do that through targeted tax incentives to employers-- you don't have to chop taxes overall in a way that favors the very rich over time. In fact, the ability to set incentives is one of the beautiful things about tax policy. The fact that this is not what they are doing is telling. It's not about "jobs."
2) There is a very simple dynamic that is repeating itself-- one that is cynical and destructive. First, taxes are cut for the rich in a way that is guaranteed to exacerbate the deficit. Second, when the deficit predictably grows, the same people who called for the creation of that deficit will suddenly be shocked-- shocked!--that this happened and demand cuts in programs that benefit everyone except rich people and corporations.
Time will tell, of course.
2) There is a very simple dynamic that is repeating itself-- one that is cynical and destructive. First, taxes are cut for the rich in a way that is guaranteed to exacerbate the deficit. Second, when the deficit predictably grows, the same people who called for the creation of that deficit will suddenly be shocked-- shocked!--that this happened and demand cuts in programs that benefit everyone except rich people and corporations.
Time will tell, of course.
