After so many months of dreary headlines, usually beginning with the word "Trump" (enough to create a whole new expression--"Oh, that's another five letter word we consider obscene"--) we finally have some good news: Republic-cons have decided to vote their benefactors a trillion dollar tax cut for the billionaire class.
Finally, something to celebrate.
I remember the last time they did this, back when Ronald Reagan was President. Here's the way President Reagan promised it would work: You cut taxes and everyone makes so much more money, even though they are paying at lower rates, they are being taxed on higher incomes, so the taxes collected actually rise and the government gets more money, which balances the budget.
Got that?
George H.W. Bush--you remember him, the one before the demented George W. (who is looking a lot better by comparison to current Presidential timber)--called this "Voodoo Economics," a phrase which even Donald Dangerous has not topped, and the Donald is a great two word phrase maker. (Just ask Little Marco or Crooked Hillary.)
But, who cares?
Once we get this tax cut in place, we'll be able to spend on infrastructure and dig new coal mines and lease out new oil rig drilling sites off the East Coast and in Alaska and maybe in downtown Topeka, and happy times will truly be here again.
You got to give Donnie Dubious some credit here--he has pushed the Republic-con party back toward it's glory days, when Ronald Reagan was President and we were enjoying Morning in America and getting Marines blown up in Lebanon and mucking about in Central America and nobody from Mexico even wanted to move here.
We don't need no health care for all, no environmental regulations, no bad treaties, no bad trade deals. What this country needs is a trillion dollar tax cut.
That's leadership, right there!
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| It's a Corker! |
Finally, something to celebrate.
I remember the last time they did this, back when Ronald Reagan was President. Here's the way President Reagan promised it would work: You cut taxes and everyone makes so much more money, even though they are paying at lower rates, they are being taxed on higher incomes, so the taxes collected actually rise and the government gets more money, which balances the budget.
Got that?
George H.W. Bush--you remember him, the one before the demented George W. (who is looking a lot better by comparison to current Presidential timber)--called this "Voodoo Economics," a phrase which even Donald Dangerous has not topped, and the Donald is a great two word phrase maker. (Just ask Little Marco or Crooked Hillary.)
But, who cares?
Once we get this tax cut in place, we'll be able to spend on infrastructure and dig new coal mines and lease out new oil rig drilling sites off the East Coast and in Alaska and maybe in downtown Topeka, and happy times will truly be here again.
You got to give Donnie Dubious some credit here--he has pushed the Republic-con party back toward it's glory days, when Ronald Reagan was President and we were enjoying Morning in America and getting Marines blown up in Lebanon and mucking about in Central America and nobody from Mexico even wanted to move here.
We don't need no health care for all, no environmental regulations, no bad treaties, no bad trade deals. What this country needs is a trillion dollar tax cut.
That's leadership, right there!
Let us not forget that when Reagan first cut taxes, the top marginal rate was 70% which he cut to 50% and, years later, to 28%. Today's top rate is 39.6% - much different than that of the Reagan era! So a tax cut a this point may not have the effect it did in the Reagan years - but the one thing we can be sure of is that the rich will be rewarded with cash in their pockets! Whether there is any resultant benefit to the economy remains uncertain.
ReplyDeleteAnon,
ReplyDeleteI'm not sure the tax cut had that much effect even in Reagan's time. I do remember he tripled the deficit. No money coming in and money continuing to flow out.
Mad Dog