You could have knocked us over with a feather! Who could have seen it coming? Rep. Kevin Brady, one of the House Republican architects of the 2017 Trump tax giveaway to the ultra rich and multinational corporations has conceded that that boondoggle won't pay for itself in increased business activity and revenues. The result, of course, is a ballooning Federal deficit which used to be anathema to hypocritical Rethugs, at least when Dems were in charge. It proves for the bazillionith time that trickle down economics is the fraud it's always been.
From the linked article:
"The federal government’s deficit typically shrinks during strong economic times, but the deficit is up nearly 40 percent so far this fiscal year, according to the latest Congressional Budget Office report released Friday. Spending is up $255 billion for the first eight months of the fiscal year, the CBO said, while revenues are up only $49 billion. Corporate tax receipts are down after Republicans enacted the largest reduction in business taxes in U.S. history." (emphasis added)After corporations used their tax cuts to buy back stock and other moves that didn't create jobs or invest in new capital projects, Rethugs are left dissembling to their gullible crowd why their taxes remained the same, or even increased. And the super wealthy? Another vacay home or second Lear jet will put that tax cut to good use.
Dems can make this a pocketbook issue in 2020 if they're smart and stay out of the weeds. Go for it.
