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Why the GOP IS the root of all evil...
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mac



Joined: 07 Mar 1999
Posts: 9596

PostPosted: Wed Nov 22, 2017 3:21 pm    Post subject: Reply with quote

Well said:

Quote:
Stan Collender , CONTRIBUTOR

Opinions expressed by Forbes Contributors are their own.

the GOP tax cut now working its way through Congress will be the start of a decades-long economic policy disaster unlike any other that has occurred in American history.
The GOP's insanity is compounded by its moving ahead without having any idea of what this policy will actually do to the economy.

No doubt many of you read the above headline and immediately started to tweet that the GOP tax bill can't be the end of economic sanity in Washington because there never was any to begin with.

I have two responses.

First...please do tweet that, and link to this post when you do.

Second...you're wrong. If it's enacted, the GOP tax cut now working its way through Congress will be the start of a decades-long economic policy disaster unlike any other that has occurred in American history.

There's no economic justification whatsoever for a tax cut at this time. U.S. GDP is growing, unemployment is close to 4 percent (below what is commonly considered "full employment"), corporate profits are at record levels and stock markets are soaring. It makes no sense to add any federal government-induced stimulus to all this private sector-caused economic activity, let alone a tax cut as big as this one.


This is actually the ideal time for Washington to be doing the opposite. But by damning the economic torpedoes and moving full-speed ahead, House and Senate Republicans and the Trump White House are setting up the U.S. for the modern-day analog of the inflation-producing guns-and-butter economic policy of the Vietnam era. The GOP tax bill will increase the federal deficit by $2 trillion or more over the next decade (the official estimates of $1.5 trillion hide the real amount with a witches brew of gimmicks and outright lies) that, unless all the rules have changed, is virtually certain to result in inflation and much higher interest rates than would otherwise occur.

The GOP's insanity is compounded by its moving ahead without having any idea of what this policy will actually do to the economy. The debates in the Ways and Means and Senate Finance Committees and on the House floor all took place before the Congressional Budget Office's analysis and, if it really exists, the constantly-promised-but-never-seen report from the Treasury on the economics of this tax bill.

Meanwhile, Congress has ignored other estimates like this one from the University of Pennsylvania's Wharton School showing that the tax bill won't do what the GOP is promising.

In other words, the GOP tax bill may be enacted without anyone who votes for it having any understanding of the damage it could do to the economy. They have wishes, hopes and prayers but in reality nothing beyond the economic equivalent of pagan superstition.

On top of everything else, there is no reason to rush this debate as the GOP is doing. Given that it's not really needed, a bill that is enacted next January or February will make as much economic sense as one signed into law by the end of this December. The must-do-it-by-Christmas deadline Trump has imposed is completely artificial and nonsensical.

The real economic insanity of the GOP's tax bill will be felt in future years. Consider the following.

The $1 trillion a year budget deficit will not be the result of cyclical changes that will be reversed when the economy improves. These will be permanent structural deficit increases.
The tax hikes that will be needed to resolve the structural imbalance between federal spending and revenues will be impossible for political reasons.
Whenever the U.S. economy grows more slowly than expected or there's a downturn, an annual deficit of $2 trillion could easily become the norm.
The federal government will have far less ability to respond to economic downturns unless previously unimaginable and politically intolerable deficits, tax increases or spending cuts suddenly become acceptable.
Reduce the national debt? As they say in New York, fuhgeddaboudit at least in the next decade.
Much more national debt plus rising interest rates means interest on the national debt will be the fastest growing part of the federal budget.
Without massive cuts in Social Security, Medicare and the Pentagon, it won't be possible to reduce federal spending enough to do more than tweak the deficit.
Washington's ability to invest in anything new that will improve the economy (think infrastructure, education and medical research) will be far less given the already-high deficits.
Even though the limits to monetary policy became obvious the past few years, the Federal Reserve will be the major economic policy maker in Washington over the next decade.
In other words, if the GOP tax bill is enacted, Congress and the president this year will give up almost all ability to deal with the U.S. economy for at least a decade even when, as almost certainly will happen, there's a downturn. No one else will be able to fulfill this role.

That's almost a textbook definition of economic insanity.


The result will be renewed inflation--a tax on the middle class and poor. A war on the poor, not just on women. By the most ignorant crop of legislators, perhaps ever.
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nw30



Joined: 21 Dec 2008
Posts: 4183
Location: The eye of the universe, Cen. Cal. coast

PostPosted: Thu Nov 23, 2017 11:48 am    Post subject: Reply with quote

mac wrote:


The result will be renewed inflation--a tax on the middle class and poor. A war on the poor, not just on women. By the most ignorant crop of legislators, perhaps ever.

There it is again.
Boggsy, you paying attention?

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I don't drink the 'cool' aid, I drink tequila, it's more honest.
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mac



Joined: 07 Mar 1999
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PostPosted: Thu Nov 23, 2017 1:27 pm    Post subject: Reply with quote

NW--It was just for you. Remember that evidence that you keep ignoring? Of course you don't.
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nw30



Joined: 21 Dec 2008
Posts: 4183
Location: The eye of the universe, Cen. Cal. coast

PostPosted: Thu Nov 23, 2017 3:26 pm    Post subject: Reply with quote

Ain't buying it, it's just your second nature coming out thru your finger tips.
You should have addressed it to me if it truly was.

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real-human



Joined: 02 Jul 2011
Posts: 6671
Location: on earth

PostPosted: Mon Nov 27, 2017 11:16 pm    Post subject: Reply with quote


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when good people stay silent the right wing are the only ones heard.
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MalibuGuru



Joined: 11 Nov 1993
Posts: 6665

PostPosted: Tue Nov 28, 2017 12:46 am    Post subject: Reply with quote

Since you haven't been to church lately, your characterization is wrong.

Have you seen who's in Antifa lately?
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real-human



Joined: 02 Jul 2011
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Location: on earth

PostPosted: Tue Nov 28, 2017 9:05 am    Post subject: Reply with quote

MalibuGuru wrote:
Since you haven't been to church lately, your characterization is wrong.

Have you seen who's in Antifa lately?



looking for equality is way different than being a trust fund slave owner, you low level thinker, trust fund serial liar trump want a be lucifer in the flesh.

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when good people stay silent the right wing are the only ones heard.
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mac



Joined: 07 Mar 1999
Posts: 9596

PostPosted: Wed Nov 29, 2017 4:37 pm    Post subject: Reply with quote

Just when you think it couldn't get any worse:

Quote:
Former Massey Energy Chief Executive Don Blankenship filed election papers to run for U.S. Senate next year as a Republican in West Virginia, in an effort to unseat Democratic Sen. Joe Manchin. Blankenship, who served a one-year sentence for conspiring to willfully violate mine safety standards in connection with a 2010 mine explosion that killed 29 men, has continued to push for a full investigation of the Upper Big Branch blast, alleging that the Mine Safety and Health Administration caused the explosion. (WCHS-TV)


It's the mafia, masquerading as the Republican Party.
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real-human



Joined: 02 Jul 2011
Posts: 6671
Location: on earth

PostPosted: Thu Nov 30, 2017 8:23 am    Post subject: Reply with quote

nw30 wrote:
It's been active lately, very entertaining, lots of attempts at deflection, it's surprising what amount of energy can be found when other things keep piling up. Government officials, and what might be worse, the main stream media kings are getting swept up in this unsavory vortex. Pay no attention to that!

"Why the GOP is the root of all evil", that's my favorite thread.


gee the fox sex network from the top to the bottom, well that is not a hard stretch they are the bottom.

again look at the right wing dedicated channel with no liberal similar network. Right wing hero Roger the rapist, to Oliely, and on and on, not to mention Right wing hero Cosby.... Then right wing Epstein and trump raping children in Epstein's home and both with phone numbers of the garge attendants and so on. and Moore hanging out as a 32 year old at Malls where he was banned because of how perverted he was. Then you have Right wing hero Denny Hastert the longest serving house right wing speaker, then you have David Koresh with minors that right wing hero McVeigh goes to settle the score for right wing values of David Koresh.

And we have dems firing people for just on-line adult weirdness. But right wing companies to keep pedophiles pay out millions and do not fire the perps sex traders on fox. for decades of knowledge of it. and again same with Trump they have 17 females come forward, a lawsuit filed 10 years before settled, his admission caught on tape, his wifes court filing that he raped her and beat her, he lied and said he did not know Epstein a convicted pedophile with 40-60 cases settled for serial pedophilia, a lawsuit against trump for rape of a 14 year old with sworn testimonies. And he is loved by the right wing for his rapes of children.

Such false equivalencies....


the real equivalency is to jay walking to the right wing going 100mph over the speed limit in a school crossing... what a great analogy.

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mac



Joined: 07 Mar 1999
Posts: 9596

PostPosted: Fri Dec 01, 2017 12:14 pm    Post subject: Reply with quote

It is funny that NW is amused by this thread. Somehow he seems to think that the Republicans are doing something besides lining their own pockets and those of their donors. Or perhaps he is ecstatic about ending health care assistance for poor kids--so the very rich can claw back more than a trillion dollars. Here's how Ryan has screwed poor kids:

Quote:
NOVEMBER 30, 2017 03:19 PM ET
With reserve funding for Children’s Health Insurance Program running out, officials in states like Virginia find themselves in a completely unprecedented position.

Linda Nablo, the chief deputy director of the Virginia Department of Medical Services, and other state officials know how to send a letter canceling Children’s Health Insurance Program coverage on an individual child. There’s a precedent for that. This situation is different.

As the days pass and congressional efforts to reauthorize CHIP continue to stagnate, officials like Nablo have to decide exactly what to tell the program’s beneficiaries—in Virginia that’s 67,000 children and 1,100 pregnant women—and when.

Virginia must inform all of these people that there’s a possibility their health care coverage might be cut off, without causing them to panic. Officials are reaching out to each other across state lines to share ideas as to how to do that and, as Nablo said, to “commiserate,” but no state agency has ever taken on this task before.
From Route 50, but you can find information on the end of CHIP everywhere except Fox and Breitbart.

Here's how Trump and his heirs make a killing. Or Perhaps that is their coal mining program.

Quote:
President Trump likes to argue that the tax-reform legislation hurtling through Congress this week will protect low- and middle-income households, “not the wealthy and well connected.” He puts himself forward as Exhibit A.

“This is going to cost me a fortune,” he said on Wednesday in Missouri. “This is not good for me.”

So surely at least a few of the most egregious loopholes that benefit Mr. Trump and real estate developers like him will be closed.

Not in the slightest.

In fact, the proposals seem almost tailor-made to enrich the president and people like him.

Commercial real estate came out essentially unscathed,” said Douglas Holtz-Eakin, president of the American Action Forum, a conservative advocacy group. Real estate developers “didn’t lose anything they care about,” and they got even more breaks, like a shorter depreciation schedule in the Senate tax bill, Mr. Holtz-Eakin pointed out.


And for traditional Republicans--the party of the rich and selfish:

[quote]analysts at the nonpartisan Tax Policy Center who studied the proposal reached a very different conclusion. They predict that nearly three-quarters of the savings from the tax overhaul would go to the top 20 percent of earners — those making more than $149,000. More than half the savings would go to the top 1 percent — people who earn more than $732,800. The tax breaks are even more tilted to the wealthy by the 10th year of the overhaul, when the Tax Policy Center projects nearly 80 percent of the savings would go to the top 1 percent of earners.[/quote]

You angry white social conservatives have been conned.
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