Happy Birthday, GOP tax cuts. Welcome to your terrible twos.
 

JFJ:hidin:

Sunday will mark the second birthday of President Trump’s signature legislative achievement: a nearly $2 trillion, deficit-financed tax cut weighted toward corporations and the wealthy. Unfortunately, on this birthday — like the first one — our toddler is way behind on nearly all its developmental milestones.

Americans were promised, for instance, that the tax cuts wouldn’t add a penny to federal deficits. In fact, they would more than pay for themselves, reducing government debt.

When virtually every single independent analyst predicted the opposite, Republicans attacked the refs. But the refs were right.

In the fiscal year that recently ended, the deficit once again widened, to nearly $1 trillion. That is 26 percent higher than the deficit in fiscal 2018 and an astounding 48 percent higher relative to 2017, the last full year before the tax cuts were in place.

Yes, the deficit went up partly because spending did. But it has also increased because tax revenue isn’t coming in nearly as strongly as you’d expect during an economic expansion. In fact, thanks to Trump’s tax overhaul, corporate tax revenue is down more than a fifth since fiscal 2017. The Congressional Budget Office has predicted that the legislation overall will end up adding nearly $2 trillion in red ink over a decade.

As you may recall, the tax law’s boosters promised it would pay for itself by supercharging the economy. Just two weeks before signing the bill, Trump foresaw “6 percent growth.” If true, that would have been quite an achievement — roughly triple what independent forecasters predicted for the upcoming decade.

Today, Trump and his most craven Capitol Hill allies claim they’ve delivered. During Wednesday’s impeachment debate, in fact, Rep. Mark Meadows (R-N.C.) pronounced that Trump shouldn’t be impeached because the economy is “growing at levels that we have never seen in the history of our country.”

This is a lie.

Not that strong gross domestic product growth would be a get-out-of-impeachment-free card, but in reality the economy is on track to grow slightly more than 2 percent this year. That’s respectable, sure, especially given the country’s demographic challenges. But it’s below the average during the postwar period (about 3 percent) and well below the rate when Bill Clinton was impeached (4.5 percent).

It’s also pretty close to that long-run trend predicted before these tax cuts.

Dig a little deeper, and the GOP’s pro-growth claims look even worse. The mechanism by which these tax cuts were supposed to goose growth, after all, was by stimulating business investment. But business investment has shrunk each of the past two quarters.

Apparently, whatever modest boost the tax cuts gave to investment was not sufficient to overcome the drag from Trump’s trade wars (which Trump also insists are helping the economy).

This illusory investment bonanza was also supposed to fuel higher wages. As the tax bill was working its way through Congress, Trump’s Council of Economic Advisers published an analysis promising that corporate tax cuts alone would “increase average household income in the United States by, very conservatively, $4,000 annually.”

Yet in the most recently available data, inflation-adjusted wages are rising at about the same year-over-year pace as they were in the couple of years before Trump took office.

Those big raises apparently got lost in the mail. Perhaps they were accidentally routed to fund record share buybacks.

And what about the popularity of the law?

It’s true that most households got at least a tiny tax cut, which Republicans thought constituents would be forever grateful for. But the savings were so meager, especially relative to ordinary paycheck fluctuations, that most Americans didn’t even notice, according to multiple surveys.

Unsurprisingly, approval ratings for the cuts have been underwater almost every day since they were but a twinkle in the party’s eye. The law may have also whetted public appetite for the higher taxes on the wealthy that many Democrats want. Though to be fair, making the rich pay more was also popular before the GOP made them pay less.

No matter. Like most starry-eyed parents, the progenitors of this policy believe it can do no wrong. In fact, they’re keen on giving it a baby sibling soon: Trump’s economic advisers have floated yet more plutocratic tax cuts, with various proposals to slash capital gains and corporate income taxes. Trump’s co-partisans on Capitol Hill say they’re ready to help.

The Trump tax cuts may be failing to deliver on key promises. But on at least one developmental milestone — the terribleness of those “terrible twos” — this toddler has proved precocious.

https://www.washingtonpost.com/opini...9/12/19/931986

“A partisan process,fueled by tribalism”
Please expain
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You get demerits for bad spelling, go sit in the back of the room.

If I was as insecure as Spence and Got Slippers then I would blame my tablet
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Now it's punctuation.

Even dummies have standards I suppose.
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Markets broke all time highs today, so someone has some confidence that things are healthy.

Easy. Gabbard, who I agree with on some issues, dropped the ball here.

Voting present was the wimpy way out. If she felt that way, and felt strongly enough she should have voted no instead of trying to make a statement

And if you don't think it was partisan for the GOP, that means all 190+ just happen in perfect lock step with each other.
Right.......


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i agree, i find it hard to imagine not having an opinion one way or the other.
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Bite your tongue!
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No they just understood along with most informed and reasonable people that the two articles of impeachment are an historically pathetic joke
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So explain to us all if it’s a joke, perfect call and no coordinated effort to smear a political rival, why not produce the documents and witnesses to clear this all up. Nothing to hide yet everything is hidden and key witnesses are blocked, they testify and the GOP will suffer long term if he is acquitted and that is why the stonewalling.
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Very insightful Bryan,and certainly a convenient alibi. The problem is she is peeling the onion known as the Democratic Party. I understand that it’s political suicide but I can’t help but admire her honesty. This statement was not meant to get votes,she is playing whistle blower with her party. And the loyalists are closing their eyes.
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I think the whistleblower was Justin Amash
Because Floridaman would never bribe someone again?

FACTS

1. Trump is under investigation for bribery.
2. He met with a Democratic rep on Day 1.
3. The Dem rep voted against Trump's impeachment on Day 2.
4. On Day 3, Trump and the rep held a presser where the rep switched to the GOP.
5. Trump gave the rep money on Day 4.

Got it?
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Being under investigation is not an impeachable offense.

no reason to cooperate with concocted charges based on bunched panties..it is all playing out perfectly...dems look foolish and not worthy of our trust again

Shock to hear the party line, no real answer to the question, no surprise there. Trump continues his BS and you clowns eat it like candy, even his Christian bass is coming out against him now. I think the harm he is doing to the Republican Party will be long term and difficult to recover from, I’m not worried it’s a short term pain the country can recover from. When the money trail and tax records are revealed and NY courts are done, Trumps legacy will be complete.
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He is clearly the greatest president of our lifetime
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didn't know that was the party line...that was my line...i don't watch fox....usually southpark...they were beating up trump pretty good last night

cool, a new species to target

"even his Christian bass is coming out against him now"

One magazine. Not the entire Christian base.

"I think the harm he is doing to the Republican Party will be long term and difficult to recover from"

I'm not worried. Do you have any idea how many federal and state seats the democrats lost during Obama's years? It was in the thousands. It was a disaster. But in 2018 they came back, taking the house and a lot of governorships. The pendulum swings both ways.

Neither party is defined by one person, each party is tens of millions of people, hundreds of ideas.

Maybe one magazine, but I’m sure it hasn’t escaped all people with a brain, that this president is as far from Christian morals and behavior as you can get. He returned recently to beating up on the dead, even suggesting he might be looking up from hell, his campaign managers must pull out their hair watching him alienate one voting group after the other.
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Floridaman doesn’t have the room to screw the pooch that you think.
Granddaughter of Billy Graham—who founded Christianity Today—says editorial call for Trump removal is "courageous”

“My grandfather always said courage is contagious. My hope is that an article like this will be a first step for people to actually stand up”
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You can’t be impeached without an investigation.
You can be impeached multiple times and articles can be added
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Yet we have a Democratic presidential nominee describing the impeachment thusly;
“A partisan process,fueled by tribalism.”
This is every liberal’s nightmare. Refreshing honesty from somebody who refuses to play party games. With one brave statement,the hopes and dreams of this charade were dashed.
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The BEST part is that this faux pas enables Trump to run on the ticket in 2024. Obstruction has consequences.
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No one is looking for Trump
to be the czar of
morals. He didn’t run for Pope. To any catholic or evangelical, he was far superior to the alternative. No comparison, not even close. That will also be true in 2020. The DNC is getting way more extreme on social issues, which will help them
in San Francisco. It will continue to alienate them Catholics and evangelicals. That’s the way it is when you get more and more rabidly pro abortion.
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it just shows how some of the Republicans have lost their moral compass supporting such a vile person. He mocks spazzes and retards, makes fun of women's faces, rips off his own charity, cheats on his wife, etc etc there is no bottom with him or some of his supporters. Dotards can't say anything other than greatest president of our lifetime. His nastiness is rubbing off on some of his supporters who don't seem to mind going down into the gutter like he does
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no, what it goes to show, is how effed up the swamp is, that in 2016 it was a choice between two disgusting, corrupt jerks.

Your saying “retard” isn’t all that great. I don’t know when Trump made fun of them ( wouldn’t shock me), but i remember clearly when Obama did it, after bowling gutter ball after gutter ball, he joked that he looked like the Special Olympics. Ha ha ha, my stomach hurts from laughing, let’s give him another Nobel Peace Prize, because he’s really that awesome.

Let’s lose the references to “retards”? are we so divided we can’t agree on that?


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Big difference, Obama made a slip and apologized for it. Trump uses cruelty and repugnant speech regularly because his base loves it...les deplorables.
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