If you are in the American middle class, republican lawmakers want you to stop spending your disposable income on “booze and women”. Apparently only large corporations and the people who run them know what to do with extra money. This is why the GOP is working so hard to make sure that they (the top 1%) have all the disposable income they need at our expense.
There is no doubt that the republican tax plan will hurt average Americans, but they have to go through with it because their wealthy donors demand it, and since most of them make well over six figures, they will all benefit from it individually as well.
The economy will be losing well over a trillion dollars. So how do we replace all that money? If you said with major cuts to entitlement programs move to the head of the class.
“WASHINGTON — Republican lawmakers have largely dismissed concerns about how their $1.5 trillion tax cut would add to the federal deficit. Now, some Democrats are warning that the tax rewrite would ultimately be financed by gutting entitlement programs like Social Security and Medicare.
The possibility of cuts to safety net programs appeared more likely on Tuesday, as the Congressional Budget Office w Congressional Budget Office warned that the tax bill could set off an arcane budget rule that would make deep cuts to Medicare over the next decade.
Republican lawmakers have turned a blind eye to the effect of the tax bill on the deficit, saying the tax cuts would essentially pay for themselves through increased economic growth.
But the party of deficit hawks is beginning to once again complain about the ballooning federal deficit, suggesting that spending cuts must be enforced to reduce the national debt, which has surpassed $20 trillion.
“You cannot get the national debt under control, you cannot get that deficit under control, if you don’t do both: grow the economy, cut spending,” said Mr. Ryan, Republican of Wisconsin.
The Republican tax plan, he said “grows the economy. We’ve got a lot of work to do in cutting spending.”
Isn’t it amazing how deficit hawks can all of a sudden care less about the national debt when a democratic president is not in power?
It seemed like only yesterday that some of these same people were all over #44 for his spending habits
. The thing is, in Obama’s case, government spending was actually helping underserved and poor people. In a just society that is who our government has an obligation to protect and look out for. Not corporate fat cats who have already taken a big chunk out of the American pie. They don’t deserve any of what’s left for the rest of us. So why is the GOP working overtime to give it to them?
Rhetorical question, we know why:
“In his “trickle-down” CNBC interview, Gary Cohn said something extraordinary. “The most excited group out there are big CEOs,” he told John Harwood, referring to the tax plan. If there’s one thing everyone agrees on, it’s that this GOP tax proposal makes the rich richer. Yet there’s nothing in the bill to specifically address income equality and stagnant wages. Wages will remain the same unless a CEO voluntarily gives someone a raise.”
*Pic from wikipedia.org.
No money to spend on "booze and women". The rich have it all.