About that Republican "tax reform"

Saturday, Nov. 25th I wrote about economists' views of the Republican tax reform plan.   They were responding to questions that were limited to effects on economic measures.   But there's another thing to consider.

Although Republicans are trying to sell these changes as a boost to the economy and claiming that the tax cuts to the wealthy will pay for themselves with growth stimulus -- it's just a false myth they like to believe.  As I wrote two days ago, 41 of the 42 economists in the survey agreed.

What is going to happen, if this tax bill passes, is that, come spring, Congress will have to pass a spending bill.   And that's where things get tough.   Because the result of the tax cuts is going to be far less revenue coming in.

And you know how Republicans like to solve a problem like that.   In fact, their mantra is "cut taxes and cut spending."    So they will use the reduced revenue that they have intentionally created in order to "justify" their slashing social security, welfare, and Medicaid.   I'd bet the farm on it.   That''s been part of their plan all along.

Friends, we are seeing snake oil salesmen in the process of scamming the public before our very eyes.  Paul Ryan can still say, with a straight face, that their tax bill is all about giving tax relief to the struggling middle class.

Ralph