Daily Pat Political Point–November 30, 2017

November 30, 2017

This is the inaugural “Daily Pat Political Point” with WSGW First Day host Pat Johnston. Every weekday on the First Day blog, Pat will give these shorter versions of his weekly “Pat Political Point,” which airs Sundays at 7:40am. Contact Pat: pat@wsgw.com

********************************************************************

Senate Republicans are rushing to pass massive tax breaks for the rich donor class.

The reason for this rush is Republicans hope they can quickly pass these tax breaks before their constituents take notice.

Because if they learn about this massive cash handout to the rich, these Republicans will wish for angry town hall meetings over Obamacare!

President Trump, House Speaker Paul Ryan, and Senate Majority Leader Mitch McConnell are saying with a straight face that corporate tax breaks help everyday Americans.

They’re hoping you won’t see through the ruse.

Because here’s the truth: Most corporations will use these handouts to enrich their shareholders.

Bloomberg News reports companies like Coca-Cola, Cisco Systems, and Pfizer will use the Republican Wall Street handouts for stock repurchases instead of job creation.

Trump argues the Republican handouts will increase average household income by $4000-$9000.

How?

Trickle down, of course!

We’re renewing the 1980’s failed trickle-down theory, but this time it’s on steroids!

Vanguard Group  CEO John Vogle calls the Republican handout a “moral abomination” since shareholders will be the true beneficiaries.

Some CEO’s like JP Morgan’s Jamie Dimon love this bill. But seeing how we bailed him out after he and his friends destroyed the economy last decade, forgive us if his support doesn’t instill much confidence.

Wealth redistribution is the donor’s class ultimate goal, and this Republican Wall Street handout bill is just the first step.

The Congressional Budget Office says the Republican Wall Street handout bill will increase the deficit by over a trillion dollars. Oh, I miss the Obama years when deficits were important.

Once these deficits rise, Republicans will argue they must cut Social Security, Medicare and Medicaid to cover the cost.

Could that happen?

You know better.

pat@wsgw.com

Click here to return to the First Day page.

Related Content

Comments