So with the prospect of losing at least the house while running a massive deficit, we see an attempt to buy votes via the promise of a tax cut for middle earners.
Of course we can expect to hear rhetoric like if you want to see this tax cut, vote for us.
Sadly it might work to some extent with his base who ignore the fact that they want to gut the programs they rely on like Social Security, Medicare, and others.
In fact for much if not most of his base, what they pay in federal taxes is probably not very significant, although of course taxes are unpopular.
Its also almost certain that any such cuts enacted would disproportionately favor high earners and probably businesses.
It should be noted that this administration has managed to increase the deficit and the trade deficit while pretending to address them.
The trade deficit is impacted since its easier to buy certain agricultural products elsewhere than to switch supply chains.
The fiscal deficit is the result of the spending increases and the tax cuts enacted.
We are also seeing an increase in interest rates that is going to hurt.
Its been a theme that has sold well, except that most of us realize that taxes aren't the onerous problem the Republicans make them out to be.
Most people realize that you need at least some Government and that you have to pay for it.
Still taxes are and will always be unpopular, although many people look forward to their tax refunds as a little extra cash they can use. Of course it was always their money but having and extra couple of bucks each pa check is not as good as a few hundred once a year.
We aren't the best savers.
No comments:
Post a Comment