At the time the Trump tax plan was passed, economist on both sides said pretty much the same things. It would inflate the deficit. It would lead to stock buy backs, not new investment. It would mostly go to a small group of people who are already wealthy. The GOP didn’t even bother to debate this point. They repeated talking points and shoved the bill through without debate. Without Democratic amendments. Without a second thought.
I want people to consider a second term for it. “Burning down the country to collect the insurance money”
The idea is simple. You run up the debt. You privatize everything, transferring it to the same people who got bags of cash in the form of tax giveaways and subsidies. You then loot the nation’s insurance fund, Social Security, Medicare and Medicaid to pay for it all. You burn the country down. You then fix the damage by collecting the insurance.
“New Treasury Department analysis on Monday revealed that corporate tax cuts had a significant impact on the deficit this year. Federal revenue rose by 0.04 percent in 2018, a nearly 100 percent decrease on last year’s 1.5 percent. In fiscal year 2018, tax receipts on corporate income fell to $205 billion from $297 billion in 2017.
Still, McConnell insisted that the change had nothing to do with a lack of revenue or increased spending and instead was due to entitlement and welfare programs. The debt, he said, was very “disturbing” and driven by “the three big entitlement programs that are very popular, Medicare, Social Security and Medicaid.… There’s been a bipartisan reluctance to tackle entitlement changes because of the popularity of those programs. Hopefully, at some point here, we’ll get serious about this.””
Call it what it is, burning down the country to collect the insurance money.
The important thing to remember here is that Canadian drugs aren’t cheaper because they went on a medical vacation to Canada. They are cheaper because Canadian socialized medicine works.
Americans have been traveling to Canada for drugs like insulin when the cost is too high to obtain them in the U.S. This plan would ostensibly make it easier for Americans to obtain cheaper drugs without having to cross the border.
“U.S. consumers and businesses are paying more than $900,000 a year for every job saved or created by Trump steel tariffs, according to calculations by experts at the Peterson Institute for International Economics. The cost is more than 13 times the typical salary of a steelworker, according to Labor Department data, and it is similar to other economists’ estimates that Trump’s tariffs on washing machines are costing consumers $815,000 per job created.”
Remember Solyndra? While the government program that funded Solyndra turned a slight profit, Solyndra lost 528 million. Divide that by the 1100 Solyndra employees and you get 480,000 per job created or saved. The Trump tariffs are nearly twice as expensive per job created as the most ungenerous metric of Solyndra.
“The Congressional Budget Office projects that this year’s deficit will be $897 billion — a 15.1 percent increase over last year’s imbalance of $779 billion. In the coming years, the CBO forecasts that the deficit will keep rising, top $1 trillion annually beginning in 2022 and never drop below $1 trillion through 2029. “
This is a direct result of the GOP tax scam. And they will use the debt scare they created via the tax cut to argue for gutting social security and medicare. This is exactly what everyone said while the GOP was passing the bill on a party line vote with no debate and no amendments from the democrats.
This isn’t something new, it’s well documented and has been for two decades now. Bruce Bartlett wrote about in the early 2000s confirming it. One link is here: http://www.independent.org/pdf/tir/tir_12_01_01_bartlett.pdf
Noticeably lacking in argumentum ad Venezuela, any reason why Venezuela is a better analogue than Canada or Western Europe.
“Maybe you disagree with all these policy ideas. But if your first response, literally, is to scream “Venezuela,” you’re demonstrating both your unscrupulousness and your lack of any serious arguments for your position.”
“We need go-go capitalism to afford a generous welfare state, and people won’t support go-go capitalism without a safety net. “Socialists” and Republicans forget different parts of this lesson.”
Marxists are actually opposed to social insurance systems because they _require capitalism_ to exist and to function. They are funded by taxes on wages, they provision goods and services created by wage labor. This is why actual Marxists and Anarcho-Communists are angry at Democratic Socialists and Liberals, who would keep capitalism, which the Marxists consider to be in a death spiral.
Uber and Lyft have long argued that they are a complement to mass transit, and that with the growth of their pooled-ride services they are reducing individual car use, congestion and pollution in this city and others. Not so, according to a report released Wednesday.
Travel to the U.S. has been on the decline ever since President Donald Trump took office, and new data from the Commerce Department shows the slump translates to a cost of $4.6 billion in lost spending and 40,000 jobs, according to an analysis by the U.S. Travel Association.