Wednesday, December 6, 2017

Hypocracy it wasn't; but something worse

For the last few days, as the GOP has been ramming through its tax reform before anyone who might object could see what was in it, there was considerable discussion about the negative impact on the national debt which  was scored as being likely to add between 1 and 1.5 trillion dollars. That appeared hypocritical from a party that has been complaining vociferously about the national debt for almost the entire Obama administration.

Yet it turns out that they hadn't abandoned their hawkish stance after all. Now that they have given tax breaks to their donors with the limit on pass-through taxation for S-corporations, deductions for golf course owners (like Trump), private jet users (like Trump), not to mention the reduction in the corporate rate without closing loopholes to make up the difference, they are now turning to the question of how to cut costs to narrow the deficit.

Having reduced tax revenues, they "must" now cut costs or add to the debt; and since there isn't nearly enough room in the budget to close the gap by cutting discretionary spending, they have "no choice" but to cut entitlements, social security, Medicare and Medicaid.

You have to admit, while morally indefensible, it is tactically very astute. Kudos Paul Ryan!             

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