Tag Archives: tax cut

RINOs take over congressional GOP

Republican Party “purists,” whoever they may be, must be furious with what the GOP majority in Congress has done.

Republicans who control both congressional chambers have just rammed through two versions of a tax cut that by many economists’ view is going to explode the federal budget deficit.

Therefore, congressional Republicans — virtually to a person — comprise Republicans In Name Only. They are the dreaded RINOs that purists keep condemning as closet big-spenders masquerading as members of the party of fiscal responsibility.

One Republican — lame-duck U.S. Sen. Bob Corker of Tennessee — managed to vote “no” on the Senate version of the tax cut. But he was the only one.

Now this monstrosity goes back to the House of Representatives, which will seek to reconcile its differences with the Senate version. Then they get to vote again on it.

After that? It goes to the Oval Office, where the president of the United States will sign it. He’ll boast about the “victory” he won. Donald Trump will take credit for enacting a bill about which he likely doesn’t know a thing.

Do you remember the time when Republicans used to blister Democrats for running up those huge deficits? As recently as the 2016 election, Republicans were pounding freely at Democratic President Barack Obama for overseeing a sharp growth in the national debt. But here’s the deal: Under the Obama presidency, the size of the annual deficit was decreasing almost every year; by the time President Obama left office, the annual budget deficit had been cut by about two-thirds from the amount he inherited when he took office in January 2009.

I guess those days are gone, along with any chance that Republicans and Democrats are going to find common ground on matters that affect all Americans.

As for the country’s budgetary future, it’s now in the hands of RINOs. When are the party purists going to start squawking?

Hello? Is there anyone out there?

Where have the deficit hawks gone?

I always have thought that congressional Republicans were deficit “hawks,” officials who hated federal budget deficits and certainly derided those spendthrift Democrats for piling up the national debt.

Why, then, are GOP senators so intent on pushing a tax cut bill that will explode the annual deficit and add hundreds of billions of dollars to the debt?

A new non-partisan analysis indicates that the GOP tax plan will spur some limited economic growth, but it’s going to add $1 trillion to the deficit.

Here is part of what CNN is reporting:

The Joint Committee on Taxation, the Congressional scorekeeper for tax bills, estimates that the Senate tax bill could generate enough growth to create nearly $408 billion in new revenue over a decade. But even with that additional revenue, the bill would still add an estimated $1 trillion to deficits.  

JCT’s macroeconomic analysis — also known as a dynamic score — falls far short of Treasury Secretary Steven Mnuchin oft-made claim that the tax cuts will pay for themselves.

There also doubts about whether the wealthiest Americans are going to pay more or less under the GOP-railroaded tax overhaul. Donald Trump keeps insisting it will “cost me a fortune … believe me.” Actually, I’ve discovered that whenever the president says “believe me” I need to discount the veracity of any point he is trying to make.

But if Republicans are so damn hawkish on budget deficits when Democratic presidents are seeking to boost the economy, shouldn’t they remain that way when their political brethren seek to do the same thing?

GOP plans to read tax bill eventually

Let’s call it the same song, second verse … or just the same ol’ same ol’.

U.S. Senate and House Republican leaders have cobbled together a tax cut bill that the rest of their GOP colleagues haven’t yet read. They say they plan to examine the legislation before voting on it.

Gosh! What a concept!

The tax bill is drawing some independent analysis, however, from those who tell us it will jumpstart an economy that’s already moving along pretty well. Others say it helps the rich more than it helps the middle class.

Donald Trump calls it the biggest tax cut in U.S. history.

What I find most amazing/amusing/troubling is that the GOP plans to rush this bill through before Thanksgiving. I am not alone in wondering about the wisdom of such a fast-track effort. The most recent landmark tax reform package took months of debate and hearings before it went to President Reagan’s desk in 1986. How in the world does this version of GOP leadership plan to enact the nation’s most historic tax cut in such short order?

The idea that legislators haven’t read it, of course, isn’t new. Democrats said much the same thing before they brought the Affordable Care Act forward in 2009 and 2010. Yes, the ACA had some serious hiccups during its rollout, but it is working — despite what GOP leaders keep saying to the contrary.

Congressional Republicans are feeling the heat to do something of substance. They couldn’t repeal and replace the ACA; they haven’t secured money to build the president’s “beautiful wall” across the southern border. Now they’re hanging their fortunes on tax reform.

They haven’t read the bill. They aren’t commenting on its specifics.

I keep wondering the same thing that I asked about the ACA repeal/replace effort: Why can’t — or won’t — these majority congressional members work with Democrats to get their input in legislation that affects all Americans?