Hey, you look like a smart kid, why don’t you give me that boring piece of green paper and I’ll give you this shiny quarter?
After listening to the GOP whine about the debt that Bush caused with the unpaid for wars and how Obama was somehow responsible for it, now that they’re in power, what’s the first significant thing they do?
Run that debt way up!
Now you can debate the longer term effects of the significant tax cuts on the rich and suppose that this time “trickle down” will actually work.
But the bottom line is this: a huge increase in the national debt. This means we borrow more money from the Chinese. And doesn’t the lender usually have some kind of power or leverage over the debtor? Oddly enough, yes. And so more and more we will be beholden to the Chinese as they finance more and more of our government’s irresponsible spending.
We spent money we didn’t have on two wars.
Now we will spend money we don’t have giving tiny tax breaks to the middle class and gigantic cuts to the rich and to the corporations.
Ah, but remember those Dems are evil with all their paid-for efforts to look out for Joe normal in times of trouble, or to simply to ease the growing chasm between the haves and the have-nots. Never mind the evidence, facts, and statistics–it creates a cycle of dependence, we’re sure it does!
And never mind that Dems actually figure out how to pay for stuff or that the national debt historically diminishes during Democrat presidents.
Or that “trickle down” has been tried numerous times and failed (do a Google search on “Kansas bankrupt” for a very recent example).
But let’s try this hand-scribbled 11th hour tax code change. What could possibly go wrong?