Just Checking
Americans will soon be noticing bigger paychecks thanks to the tax cut passed last year by the GOP. In addition, a lot of companies are giving out bonuses to workers because (they claim, though I wonder if it's true) they can afford to with corporate taxes coming down.
But their best amounts to calling the people idiots for not recognizing they're getting very little while others make more. Thus Nancy Pelosi describes $1000 cash bonuses as "crumbs." And Debbie Wasserman Schultz claims the bonus won't go very far.
It's funny because the tax law wasn't a good idea, but not for these reasons. It was dumb because we've already got a huge deficit and this will only make it bigger. Also, the law was a missed chance to simplify the system (though some parts of it are good).
But Dems can't make this point. They can't credibly worry about the deficit, and so can only try to whip up resentment that the well-off are getting to keep more of their own money than regular folks do. It's hard to argue "who needs a few thousand extra a year--what we want to do is raise taxes so we can give it back to you in ways you'll like even better."
posted by LAGuy @ 9:30 AM
5 Comments:
Put aside the word "credibly," since the Dems can't do anything credibly; that's what their Clinton victories did for them, and the primary reason Hillary lost.
But why can't they argue against the deficit? That argument is as good as yours, since both ignore spending.
Taking the deficit seriously means cutting spending, which is something they just can't do, or even talk about. The certainly didn't talk about it when they had the White House.
What they're good at talking about are all the wonderful things the government will give to you. They do like to talk about taxing the rich more, but that's not about the deficit, that's about the great new programs the money will support. This also means they're always talking about tax relief for the "middle class," which puts them in a bind since most who pay taxes are getting a cut under the GOP plan, which means the Dems have to argue the cut is nothing.
Hmm through loss of deductions I will have a tax increase under the new plan and what's more the GOP Administration is issuing edicts which are seriously harming job growth in new industries like cannabis and solar.
A little salt in the wounds, there?
NE Guy will be paying more? He must be dong pretty well then, since the first $10,000 in state taxes is deductible. In any case, it's good to see the low tax states won't have to subsidize the high tax states any more.
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