Friday November 17, 2017
There's a cockamamie tax proposal being rushed through Congress. Sen. Pat Toomey and Rep. Lloyd Smucker visited Reading to promote it. Republican publicity says the average family will save about $4,000, but don't fall for it. If Citizen No. 1 saves $100,000, and Citizens Nos. 2 through 25 save nothing, the "average" is $4,000.
President Ronald Reagan cut taxes, promising that money would trickle down. The national debt tripled, but, according to Vice President Dick Cheney, "Reagan proved deficits don't matter." President George H.W. Bush said, "Read my lips," but then he raised taxes to save the economy.
President Bill Clinton raised taxes too. The economy roared, the gap between rich and poor narrowed, 21.5 million jobs were created, and there were budget surpluses.
Learning nothing, President George W. Bush cut taxes again, redoubling the national debt. The Congressional Research Service estimates the 10-year cost was $3.5 trillion. The economy eventually crashed, and only 2.1 million jobs resulted.
Kansas followed the trickle-down playbook; it also crashed.
President Barack Obama did a stimulus package. A record-setting 75 straight months of growth followed, along with 22.3 million jobs.
The cartoon character Charlie Brown is convinced he can kick the football right out of the park if Lucy would hold the ball steady. Over and over he tries, she yanks the ball away, and he lands flat on his back. Taxpayers who still believe in trickle-down, just like Charlie Brown, fall for it every time.
GOP uses tricky math to sell tax proposals