Posted by Tina
The Republicans in the Senate (save one) finally pulled themselves together and passed their version of a tax bill that will eventually cross the Presidents desk for signing. The two versions, House and Senate, will now be reconciled and the President should have a bill to sign very soon. Commentary on the Senate version from various camps range from the absurd to the insane. The following two, from a PJ Media article are examples…oh, the drama:
“America died tonight. Economic suicide adopted to feed the insatiable greed of donors, who have been refusing to dole out $ to GOP until they got their tax cuts. Voters fooled by propaganda and tribal hatred. Millenials: move away if you can. USA is over. We killed it. – Kurt Eichenwald, senior writer for Newsweek
Mr Eichenwald insults his readers. Does he reall think they will buy the idea that Democrats donors aren’t as” insatiably greedy” as any other donor? Does he expect them to believe that wealthy lefty donors don’t threaten to withold cold hard cash if the democrats don’t perform as expected?
Have right wing donors refused to fill GOP coffers? Probably, but does this idiot think that’s something rich Democrat donors don’t do?
Next he (desperately) insults Trump voters as tribal, meek, haters and dramatically declares the US “over.” He tells millennials to flee…flee!
Was this guy living under a rock while the millennials came of age? Is he unaware of the poor job situation with kids living in their parent’s basements? Did no one bother to inform him that kids were working two and three part time jobs? Did he have his head up his….well…when the young racked up thousands in college loans with few prospect to repay them? Was he asleep when the tiny house concept was born out of desperation?
The economic failures of the Obama administration are epic:
“Obama will end eight years in office without presiding over a thriving economy of the sort America enjoyed in the past. It also suggests that even the mediocre growth of recent years depended on high oil prices, which have collapsed by more than half. This is the bitter fruit of creationist economics, the erroneous belief that government activity can somehow conjure new wealth and value.” -Washington Examiner
“When did Americans decide that 1% or 2% economic growth is acceptable, that puny wage increases are inevitable, and that we should all merely shrug and get used to the country’s diminished expectations? … the first quarter is further evidence of what has been the weakest economic expansion in the postwar era. … All of this continues the slow-or-slower pace of this entire expansion that began nearly seven years ago. Each year has had a similar GDP dip, and growth has never exceeded 2.5% (2010). The American economy hasn’t grown by more than 3% since 2005 (3.3%), the longest such stretch of malaise that we can find in the Bureau of Economic analysis tables going back to 1930. … Faster growth is possible, but it will take better policies.” – Wall Street Journal
“America’s elites have largely given up on growth, and are now distracting themselves with academic musings about ‘secular stagnation.’ … assuming 2.67% RGDP growth for 2016, Obama will leave office having produced an average of 1.55% growth. This would place his presidency fourth from the bottom of the list of 39*, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore Roosevelt (1.41%).” – Louise Woodhall, Real Clear Markets
Methinks Mr Eichenwald is afraid the people will find out that a robust economy with an abundance of opportunity will follow these tax cuts and wages will rise!
Millennials will win as their prospects improve!
Next in the panic room is Bruce Bartlett, a Reagan economic advisor and Treasury official under G.H.W. Bush, who said on MSNBC Saturday: “It really defies comprehension. Maybe they think that the poor have it so easy that they need to have to pay more taxes to force them to go out and work more. It really — the amazing thing is that people seem to be accepting this so meekly and mildly. It’s really akin to rape. It really is. This is not going to create a single job, believe me.”
Attention Bruce…“the poor” don’t pay income taxes. Some of them are even subsidized through the income tax” system in the form of the Earned Income Tax Credit.
MarketWatch reported in April 2016 that 45% of Americans, or 77.5 million households pay zero income tax. The tax policy under consideration is an income tax policy! The poor will only pay taxes IF their own pay situation vastly improves. You seem to be saying that would be a bad thing. Incredible!
The tax bill is designed to positively grow the economy and expand businesses. It will inevitably create more jobs and greater prosperity for ALL workers. Bartlett’s notion that the poor will be “forced” to “go out and work more” is disingenuous and farcical. The working poor will be thrilled and relieved at the increased opportunity!
For eight long years the left has touted Obama’s job growth. What they fail to mention is that most of the jobs created were part time, low paying jobs that “forced” the working poor to “go out and work more” or drop out of the workforce all together and join the ranks of those who could not find work! Could prospects for the poor have been more dire? Not likely, when you consider that the poverty level under Obama broke a 50 year record with 3 million more children living in poverty.
And Bruce…this tax law is “akin to rape?” Dude, this may be the most desperate statements of all. You should know better than to “go there” in the current atmosphere!
Maybe Bruce is afraid that Reagan’s excellent record (his own legacy) will be surpassed by Trump. Trump has already found ways to increase our economy through foreign investment in America, the prospect of better trade deals, and fewer onerous regulations. The latest upgrade to the fourth quarter GDP put the growth rate at a whopping 3.9%!
Bartlet also said that decreasing taxes on businesses “would only lead to more profits for executives.”
Attention Bruce…profits increase when the economy booms! You know that. So of course profits will rise for Executives. They rose for executives under the left’s tax policies too! The rich know how to protect their wealth and make money.
But those teachers, firemen, police officers and others with retirement plans can check the growth in their pension funds over the last three quarters for an indication of how the ordinary worker/investor will positively benefit from conservative policies that create growth.
Trumps economic vision is already working; tax cuts will give us another major boost!
Putting all of the negativity aside, we’ll have to wait to find out what remains when the two congressional bills are reconciled in the coming days or weeks. A tax bill of this proportion is bound to include things that concern some Americans. But overall, the bill will create a vast improvement in our economy over the restrictive policies of the last ten years when Democrats had control and the rich got rich while the poor got poorer.
America…get ready to be economically Great Again!