On the campaign trail, Donald Trump promised the biggest tax cuts since the Reagan era and proposed reforms that would drastically increase our country’s already extreme levels of inequality. Now theRepublican-controlled Congress is considering ramming through tax reforms in the first half of 2017, using a “fast-pass” process called reconciliation that requires just 51 votes in the senate. If Trump’s plan becomes the blueprint for this reform, these would be the six worst features.
This the sort of thing those Libertarians would love which suggests to me few of the same would have supported Clinton had their candidate not enter the race.
This would seem to contradict the suggestion that the libertarian/green vote cost Clinton the election.
Tax cuts have this added effect when it comes to the Corporations. First and foremost it defies common sense that all of those extra profits generated and money coming in at a lower rate from overseas will spark more investments and jobs.
Overproduction of goods is a real concern and major shipping companies are seeing a dramatic drop in cargo carried ( Hanjin went bankrupt and the shipping index is near an all time low)
Instead they will use these monies in stock buy back schemes which will inflate stocks and increase the personal wealth of the 1 percent.
This in turn will create the illusion that the economy booms.
Taxpayers will pay corporate America to fix roads, bridges, and such. That's good. However, we will likely see a large increase in corporate owned 'commons.' Lots of toll booths (actually mostly cameras to get license plate numbers and send us a bill--no need to hire anyone to sit in a toll booth) to give corporate America a long revenue stream after we paid them to build the infrastructure. The corporate money that will be repatriated and taxed at a very tiny rate will give the government a short-term surge in income, which is just enough to advertise to the American people what a wonderful policy it is. Things might well be good for a while before they seriously go to hell. I feel bad for democrats and children. I truly do not give a crap about those who were stupid enough to vote for Trump.
Where are the Republicans who used to demand a balanced budget? These tax cuts are obscene. We talk about income inequality and the we give the wealthy a $1.1 tax cut and raise taxes on the middle class. If I voted for Trump I would be saying that he promised to reduce income inequality and he can't even appear to meet these objectives. Trump liar, liar pants on fire.
Deficits don't matter. When there is a Republican president.