Republicans are Raising Your Taxes
…I repeat, REPUBLICANS ARE RAISING YOUR TAXES.
For decades, Republicans have branded themselves as “the party of tax cuts”. While this slogan both mathematically and demonstrably reduces government revenue, Republicans continue to claim that they support such cuts, in spite of holding an economic philosophy that sees low economic debt as a good measure of stability. This is why the tax plan is not only a disaster for all Americans, but it exposes the Republicans for who they really are: dishonest, greedy, sellouts.
While I know some will read this and inevitably bring up the false equivalence of Democrats being dishonest, reed, sellouts, but the problem is that the plans the policies that Democrats purpose are objectively less harmful to the American populous than what Republicans have purposed.
What’s even more egregious about this plan is that it is not being passed with the intention of benefitting the majority of the American people or even the richest Americans as it has come out to benefit the most. They’re passing this because they need a win. That’s it. This administration needs a legislative victory. So it doesn’t really matter what’s in it, as long as they can get enough Republicans to agree on it.
So while we hope for Republicans in the Senate to remain principled enough (or at least know the political toxicity of voting for something that would make the rich richer on the backs of the poor), let’s look at a simple breakdown of the plan.
First of all, it’s important to know how these bills are passed. Basically, the two branches of Congress, the House and the Senate, individually create their own bills. Once those bills pass in their respective houses, the two branches get together to reconcile the differences in both bills in a joint committee. It is then sent to the president to sign or not sign.
When it was initially introduced, many analysts pointed out that most of the benefits of the plan will be felt by the rich and the majority of Americans experience AT BEST modest gains in the coming years. If this wasn’t bad enough, further scrutiny has shown that anyone earning $75,000 or less would actually see an increase in their taxes overtime and explode the debt even more over the next 10 years.
The Senate and house plans eliminate several key deductions and write-off that low-income, middle-income, and young Americans rely on in order to make ends meet. This includes medical expense deductions, SALT deductions, and write-offs for graduate student tuition.
Many of these reductions are to pay for tax cuts for high-income households and corporations since both the senate or house plans suggest the same cuts generally speaking. While the Senate version is predicted add 1.2 trillion to the debt compared to 1.5 Trillion in the House version, this is because the Senate plan suggests a $380 billion cut to Medicaid which would mean 13 million fewer people who have health care. As if we needed a fourth round of this health care repeal.
This entire effort is shameful. However, the silver lining of this whole situation is a result of how Republicans got here in the first place. Republicans are banking on the assumption that people do not typically focus on politics. They have had this same assumption trying to pass the healthcare bill. Because of this, no matter what the outcome of this is, the Republicans will likely face big losses in 2018.
Sure, it’s possible that Republicans will retain some key seats, but Trump has ensured us that all eyes will be on the US government for the foreseeable future. If the effort passes, the Republicans will be maligned for raising taxes on the poor as well as cutting key benefits for a large population. If the effort fails, the administration will be seen as a failure unable to pass any key pieces of legislation in their first full year of holding complete control of all branches of government. And in a party filled with in-fighting, bickering, and mass resignations and retirements, even greater losses will most certainly irreparably damage the Republican brand.