Monday, November 27, 2017

Payback?

Every analysis I see about the two tax "reform' proposals clearly show that the real impact is to borrow money from the wealthy and then give it to them in tax breaks.

The rest of the bill is pretty much just distraction where some deductions go away and some deductions increase with no real impact except on a few who tend to suffer.

But reducing taxes on the major campaign contributors is always there and I'm sure it guarantees future donations.

Hell they even have said it, failure to pass this will lead to dried up funding.

The donors want their payback and they want it now, or else.

That's why the Republicans are willing to push ahead with a law that is unpopular now and likely to be more so if it passes.

Getting those donations will allow them to attribute any economic progress to the bill, even though we are already close to full employment and most businesses are doing quite well.

In fact the odds of this economic situation continuing under this administration is questionable, so they need to pass it before a recession comes.

The economic expansion goes back to shortly after the great recession and generally we are overdue for a correction.  I hope we don't get one, but we always have in the past.

Increased debt to pay the donors increases the chance of higher interest rates and that could easily tip the scales.

So pass this give away while they can claim credit where none is due/

The donors will know they delivered.

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