Tuesday, November 28, 2017

Taxes . .

(from Vox.com)
". . . if you saw a candidate standing on a dais pointing at his pet dog and telling you it was a cat, you’d think something pretty odd was going on. . . both citizens watching the tax reform debate in Washington and reporters covering it ought to ask themselves: Why, if this plan is so good, do its authors keep lying about what the bill does? . . . It’s obvious that if you cut a tax that’s only paid by married couples who’ve amassed at least $11 million that you are helping rich people. It’s obvious that if you enact a special discount tax rate for people who own LLCs then you are helping Donald Trump, who owns a ton of them. And it’s obvious that if part of your plan is permanent and part of it is temporary, and the part you made temporary is the part that helps the middle class, then helping the middle class wasn’t your priority. . . everyone who’s anyone in the Republican Party said they wanted to cut taxes for the middle class, and not for rich people in general or Donald Trump in particular — the Senate’s coalesced around a bill whose long-term distributional impact looks like this. . . this hypothetical family of four that Paul Ryan cooked up and has instructed his caucus to meme about does get a one-year $1,182 tax cut. But under the bill the House passed last week, that tax cut shrinks over time and within a few years turns into a tax increase. . . If that’s such a good idea, why did its proponents invest so much time and energy in pretending they were going to do the opposite?Republicans promised a middle-class tax cut. . . As a candidate for office, Trump ran on promising a middle-class tax cut. At a meeting with business leaders at the beginning of the month, Trump was on the same page, saying, “It's a tax bill for middle class.” . . . But it’s not. Neither the House bill nor the Senate bill are good for the middle class. . . The middle-class provisions are afterthoughts, scrounged together to meet messaging goals. . . Trump frequently likes to make this point is to cast himself as a selfless champion of the people, willing to raise his own taxes for the sake of the country. . . Trump’s team is now engaging in bizarre deflections. . . A telling thing about the cavalcade of lies Republicans are telling about taxes is the party can’t quite get its story straight as to what the policy agenda even is here. They are telling deficit hawks that the bill is fiscally responsible, adding a large but manageable $1.5 trillion to the debt over 10 years but revenue-neutral in the long term. They're telling others that statutory “pay-as-you-go,” or PAYGO, rules will be suspended, and the bill won’t really lead to the automatic cuts in Medicare and other programs that, by law, will result from its passage. They’re telling some people the middle-class tax hikes written into the Senate bill will never be enacted, so there’s no need to worry. That’s the opposite of what they’re telling deficit hawks. So then some Republicans are telling some deficit hawks that the follow-up to the tax bill will be a return to entitlement reform. . . Of course, that’s the opposite of what Trump promised his voters during the campaign . . ."


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