Robert Reich has worked out that the Republican's latest "tax plan" would pilfer nearly $6 trillion from the public coffers almost all of which would make its way into the bank accounts of America's elite, its richest 1% and mega-corporations. Among the beneficiaries, naturally, are the Mango Mussolini, his daughter, Ivanka, and the genetically modified (mutated) boy twins, 'Tardo and Ambergris.
Reich calls it a "heist"
The robbers are the American oligarchs who bankroll the Republican Party, and who are plotting the biggest heist in American history – a massive tax cut estimated to be up to 5.8 trillion dollars.
Around 80 percent of it will benefit the richest 1 percent, according to the Tax Policy Center.
So, where is all this money going to come from? Well, from throwing a lot of people - the poor and the elderly mainly - off Obamacare and Medicaid, and by slashing tax deductions including some that the middle class have long taken for granted.
The Republicans are very weak on basic math. They can't add columns and subtraction, well that's out of the question. They have the Congressional Budget Office for that only it almost never comes up with numbers they want to hear. In this case it's how many tens of millions would be thrown off health care or how their "tax cuts" would actually increase the taxes of their middle class base and the vaunted "heart of the American economy," small business.
I would love to see every Congressional Democrat come down with Dengue Fever and hospitalized while the Repugs perpetrate this ideological theft on America's white and blue-collar working classes and small business entrepreneurs. It's not that I want to see them suffer but the Republicans seem determined to do that anyway. It's that I want the American people to feel the lash and, perhaps, finally realize that Republicans are not their friends and that their fantasies of "government of the people, by the people and for the people" are just that, fantasies, delusions.
The Republicans are neither fiscally prudent nor do they offer good government. Left to their own devices with control of the House, the Senate and the White House they're ruinous. Unitary Republican governments gave America the Panic of 1907, the Great Depression of 1929 and the Great Recession of 2007-2008. Now with the Obama hiatus over they're back at it dismembering Dodd-Frank to reinstate Casino Capitalism and tax cuts for the rich paid for by savaging the little guy.
With the American public believing Republicans are the party of fiscal restraint, isn't it time the Democrats stepped back and allowed the GOP to reveal the truth?
While the Great Recession happened under a Republican, I'd have to claim the seeds were sown by various financial "deregulation" moves under Bill Clinton such as the repeal of Glass-Steagall. The Democrats are generally more subtle in their support for plutocracy, but support it they do--certainly including Barack "the only thing between you and the pitchforks" Obama. Two wings of one bird of prey, as Upton Sinclair put it.
ReplyDeleteThis should keep your bankruptcy and insolvency colleagues in Guccis and bespoke suits - "it's an ill wind blaws naebody gude."
ReplyDeleteCap
What beats me is that when the american voters go to the polls kowing full well tha tthe tax cut will not raise wages and knowing that the meagre medical benefits they have will be severely reduced and their income tax deductions have evaporated they will still vote in ignorance and blame the democrats.
ReplyDeletewell folks tough shit don't expect any sympathy from me you brought it all on yourselvrs!!
ReplyDeleteTruth be told, Cap, there's almost as much money, sometimes more, to be made in the recovery stage when creditors and debtors re-align to partake of the return of prosperity. A lot of debt gets flushed out then to clear the way ahead.
ReplyDeleteI have your point, Ben. Something has to bring working class Americans to their senses. Too many of them still back Trump.
ReplyDeleteThe thing is, PLG, even the Left has embraced neoliberalism.