Why the GOP believes in a decades-old tax myth
I've seen this movie before.
Republicans claim tax cuts for the rich will stimulate the economy and pay for themselves.
Then they enact this crank policy and it blows a big hole in the deficit and the economy spirals into a recession.
Reagan did this in the early 1980s and the economy immediately tanked while the deficit exploded. He was forced to agree to tax increases which his administration called "revenue enhancements."
Bush jr. did this in the early 2000s. The economy immediately went into a slight recession, then entered a near depression a few years later, while the deficit exploded.
Kansas tried this just a few years ago. Now, they can't afford to keep their schools open and the state's economy grew at a slower pace than all of their neighboring states where taxes were not cut so severely.
Republicans try this over and over and over and it never works. Tax cuts never pay for themselves.
Yet, they are going to try it again.
What do they say about doing the same thing over and over and over and expecting different results? Isn't it the definition of insanity?
Reform suggests positive change, the Republican plan is regressive and the Speaker of the House and POTUS are pursuing a change which benefits the wealthy, globalists and multinational corporations, and will do the exact opposite of what they promise.
Once again they are imposing a tax policy on every American which promises what the biddable want to hear, and in fact is as old as Robin Hood, that is, they will take away from the many and give to the few.
I doubt those smiling Republicans who stand on the capital steps and claim this form of Reaganomics is anything close to fair, good for the overall economy or will have a positive income for every citizen. Their smiles hide the fear they feel, for the 115th Congress, one which cannot get out of its own way, has proven once again the GOP can win an election but cannot govern.
They are desperate to pass anything, desperate to keep just one promise after so many have been reneged, and don't really care to know or nor care to share the details in this devil of a bill.
Republicans seem unable to learn from their experience, promises made and promises not kept are not the way to keep the power they lust over. The Republican brand is toxic, and if the D's can get their act together, we will see a sea change of epic proportion one year from now.