November 19, 2017
In this week’s “Pat Political Point” from WSGW’s First Day, I showed how no matter what, Republicans LOVE tax cuts for their elitist donors. Leave your comments at the bottom of this post, or email…firstname.lastname@example.org.
Republicans across the country truly have one goal: Providing tax cuts to their donor base.
Whether it’s on the federal level, or state level like Michigan and Kansas, Republicans simply fight to redistribute wealth to the top.
Michigan Republicans cut business taxes while taxing pensions, ostensibly to bring jobs to Michigan. But it’s main goal was to redistribute wealth to the donor base.
You’d think Michigan would be grand shape after providing huge business tax breaks, passing right-to-work-for-less-money bills, and dolling-out a billion dollar giveaway to failing charter schools!
It’s shocking, shocking that Michigan isn’t a jobs juggernaut.
Kansas is in absolute financial ruins after Republican Governor Sam Brownback’s tax-cut scheme. After passing sweeping business and income tax cuts, revenues dried-up. They dried-up because the huge economic boon Kansas Republicans promised with the tax cuts never happened.
In order to balance the state’s budget, Kansas Republicans resorted to budgetary tricks, and cut education and infrastructure spending.
Things got so bad in Kansas that voters replaced those right-wing Republicans with Democrats and moderate Republicans to rescind those draconian tax cuts.
And now, President Trump and Congressional Republicans are trying the bring the Kansas experiment to the rest of the country.
House Republicans have already passed their donor tax-cut giveaway, and now the Senate is debating their version.
You’re probably wondering why I’m calling this tax-cut scheme as a giveaway to the donor base.
Well, I’ll let Trump’s economic adviser Gary Cohn, and former Goldman Sachs executive, tell you himself:
The most excited group out there are big CEOs, about our tax plan.
I bet they are, Gary. I bet they are.
Goldman Sach Gary Cohn believes a one-time repatriation tax will spur companies to bring their overseas earnings back into the United States. The belief is once corporations bring back this money, they’ll create high-paying jobs. Of course, the last time we tried a similar measure during the Bush years, corporations used that cash windfall for stock repurchases.
Things will be different this time, Cohn and his fellow Republicans promise.
But perhaps they won’t be different.
During an interview with a group of CEOs, Cohn pressed his repatriation and business tax-cut scheme. But when a Wall Street Journal editor asked these CEOs how many would use their cash windfall for reinvestment, here’s what happened:
1. Tax-overhaul backers say corporate rate cut will encourage investment by businesses
2. During #wsjceocouncil interview with Gary Cohn, WSJ asks CEOs to raise hands if they’ll boost investment if rates cut
3. Few CEOS raise hands
4. Cohn asks: “Why aren’t the other hands up?” pic.twitter.com/5PI60NlW0A
— Tim Hanrahan (@TimJHanrahan) November 14, 2017
You heard Cohn ask, “Why aren’t the other hands up?” You can see this moment on the First Day blog for yourself. About three-to-five hands were raised, but the rest of the room stayed silent.
And that cringe-worthy moment revealed a basic fact behind this Republican trickle-down farce: It’s a redistribution of wealth for families like Donald Trump.
American corporations are experiencing record profits–most of it earned when that so-called socialist President Obama was in office. If companies didn’t reinvest in workers before, why does anyone believe they’ll do it now?
But the House-passed bill and Senate bills are willing to slash corporate taxes, permanently. If this becomes a reality, does this mean wages will rise, and even better, that companies will recreate pensions for their workers? I mean, with all of these spectacular profits we’re expecting to see, companies will want to reinvest in their workers rather than their shareholders, right?
You know better.
Actually, Gary Cohn told you why, and it’s obvious with the Koch Brothers, the Chicago Cubs owner, and several other elitists funneling millions of bribes, I mean, donations to several congressional Republicans.
The Republican donor tax-cut giveaway eliminates the estate tax because, well, that’s essential for Paris Hilton’s survival.
And the Republican donor tax-cut giveaway also raises taxes on millions of middle class Americans. Well, they don’t have the money to bribe, I mean, donate to Congress.
Despite the Kansas Disaster, congressional Republicans are full-steam ahead on stuffing that failure down our throats. Rather than reinvest in America with infrastructure upgrades, making college more affordable, and giving more permanent tax breaks for middle class Americans (which President Kennedy advocated), this Congress believes in providing Donald Trump’s family with more money.
We might be in Kansas after all.