Saturday February 17, 2018
GOP only cares about deficits when a Democrat is in the White House.
It has been said that he who believes money does everything can be suspected of doing everything for money.
Economists predict the tax cut bill, passed with only Republican votes, will create an economic sugar high. Republicans hope it lasts through the November elections.
Republicans are deficit hawks only under Democratic presidents. The Washington Post says our annual deficit of $666 billion in 2017 will double to $1.2 trillion in 2019. The new budget cancels any debt ceiling until 2019.
Fortune reported that Wells Fargo, the banking firm that paid $185 million in fines for cheating customers, gets a $3.7 billion tax cut. AT&T announced bonuses, then laid off thousands right before Christmas. Marketwatch.com found $100 billion in stock buybacks already, counting only those over $1 billion each. More than 80 percent of President George W. Bush's tax cuts went to stock buybacks.
So stockholders will profit. Money magazine says the richest 10 percent of the population owns 84 percent of stocks. That includes wealthy foreigners, who own 34 percent. But about half of Americans own no stock, not in pensions, 401(k)s, 529 plans or mutual funds. None.
Employee bonuses are like lollipops, once and done. Corporate tax cuts last forever.
House Speaker Paul Ryan touted the $1.50/week raise Lancaster secretary Julia Ketchum received.
Just days after tax cuts passed, Ryan's campaign got $500,000 from Charles Koch, whose Koch Industries got about $1 billion in annual tax cuts.
Republican hypocrisy on debt is absolutely head-spinning.
Republican hypocrisy on display once again