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The definition of insanity is doing something
insane that fails and fails and fails. This is a good description of the
current Republican tax bill. It took the country 20 years of budget hell to
recover from the completely irresponsible tax cuts put in by Reagan in 1981.
By the year 2000, the budget was only marginally back in balance when you
included the payments to the Social Security trust fund.
The destructive effects of the Reagan tax cuts were
not limited to the field of tax policy but also resulted in a staggering level
of damage to vitally needed programs. In 1981, to pay for the Reagan tax cuts,
Reagan decimated energy research. America had the most advanced renewable
energy research program in the world and also had a good program on fusion
research. Both those were destroyed to pay for these tax cuts.
Reagan also dismantled the CETA program, which was
the primary federal government initiative for retraining workers—an essential
program in a rapidly changing world economy. There's a direct connection
between the destruction of the CETA program and the fact that we today have a
staggering 2 million people in jail.
In 2001, the Republicans, having learned nothing
from past experiences, implemented a new series of tax cuts that promptly led
the government back into a budget crisis. Now, if that wasn't bad enough, in
2017, they passed yet another series of tax cuts that plunged the government
into a further, deeper budget crisis. Today, we have a staggering 2
trillion dollar budget deficit and need a total of 6 trillion to keep the
federal government lights on
This year, the individual tax cuts from the 2017 tax
bill are set to expire. The Republicans propose continuing those tax cuts and
adding other tax cuts. But that's not the end of it. They are planning to cut
health care for the poor in this country. In other words, they are planning to
kill poor people in order to pay for this disaster. This is criminal.
It is also foolish from a budget point of view
because the prevalence of more sick people will affect the entire healthcare
system. They are also planning to essentially destroy the solar renewable
energy industry to pay for the tax bill.
This is a total disaster and should be voted down.
While it is true that some investment-oriented tax cuts pay for themselves and
generate surpluses, there is no evidence to support the notion that the
so-called dynamic scoring is accurate. Mindless consumption-oriented tax
cuts lead to budget deficits. That is the fact, and it has been demonstrated
again and again.
What's particularly despicable is that those
peddling this disastrous bill are suggesting that, somehow, magical forces
from outer space will help generate revenue through growth. And they are also
lying about the fact that the budget cuts for the poor in programs such as
Medicaid will have absolutely disastrous effects.
We suggest that if they are going to pass it (which
they should not), an amendment be made. All the members of Congress who
vote for this bill should put themselves in the Medicaid program since, after
all, they claim the budget cuts they're proposing will only eliminate "waste
and fraud". That would be a good solution there.
Also, since the bill, as written, will actually increase an already disastrous, record breaking budget deficit, they should be required to list the time and place where their budget Tooth Fairy will appear with trillions of dollars in money from out of the sky via "dynamic scoring". At the Mall? Near the Lincoln Memorial? On Christmas Day?