Remember how, this past summer, we all came together, fought like hell, and killed the Republican health care plan that would have robbed some 22 million Americans of their coverage? Well, it looks like it’s time for us to get back in fighting shape, as the Republicans seem hellbent on pushing legislation through Congress before the holidays that would, among other things, increase the taxes of 36 million working class and middle class households by 2027 and leave 13 million Americans without health care.
Yes, I know what you’re thinking… When the Republicans first told us about this legislation of theirs, which they’re calling the “Tax Cuts and Jobs Act,” they said it was a middle class tax cut, right? Trump, after all, said himself that it was “a tax bill for middle class.” In reality, though, it turned out to be a bill for the idle rich, which maintains tax breaks for golf corse owners and eliminates the estate tax, while shifting the burden to middle class families, who would, among other things, lose their state and local tax deductions, and have to start paying taxes on their student loan interest. And, this, as you might imagine, is proving to be somewhat awkward for politicians like House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, who are now having to walk back their earlier statements… McConnell, for instance, who, just a week or so ago, promised that “nobody in the middle class is going to get a tax increase,” just recently had to confess to the New York Times that he’d “misspoke”, and that taxes would actually rise for a significant number of people in the middle class.
As for why this is happening now, it definitely doesn’t have anything to do with voter sentiment, even among Republicans… According to recent polling, only 17% of Republicans believe corporations are taxed too little, and nearly two-thirds of Americans believe corporate taxes should be increased… But it’s not the voters who the Republicans in Congress are listening to. By their own admission, it’s their wealthy donors. House Republican Chris Collins just recently said that his donors had told him, if he didn’t pass tax reform, he shouldn’t expect another dollar from them. And Republican Senator Lindsay Graham has said publicly that, if this legislation fails to pass, “financial contributions will stop.” Make no mistake, this is all about the idle rich and the CEO class, who want to kill the estate tax, speed the transfer of wealth to the super-rich, and establish themselves as members of a new American aristocracy. And, if you don’t believe me, listen to former investment banker Gary Cohn, the director of the National Economic Council and chief economic advisor to Trump, who has said publicly, “The most excited group out there are big CEOs, about our tax plan.”
This quote from Gary Cohn is just too perfect: "The most excited group out there are big CEOs, about our tax plan." pic.twitter.com/1a5u1EoJVQ
— Jeremy Slevin (@jeremyslevin) November 9, 2017
Meanwhile, across town, economist Gene Sperling, who was Director of the National Economic Council under Presidents Clinton and Obama, had a much less enthusiastic take about what this poorly thought out legislation would do to our country.
Now add to basic, must-know facts about Senate Tax Bil;
— Reduces health coverage by 13 million Americans
— Raises premiums by 10%/over $1K for older Americans
— Increases number of older Americans without coverage by 45%
— Chid credit 16X more to family at $1M than at $24K https://t.co/L32fraSa6n— Gene Sperling (@genebsperling) November 15, 2017
Confused about GOP claims on Senate Tax Bill?
Consider:
— 64 million earning < $100K get tax increase or less than $100 tax cut
— Earners >$1 million get 100X more than $40K-$50K earners
— 19M earning < $200K get tax hike
— GOP budget cuts Medicaid/Medicare by $1.8 trillion— Gene Sperling (@genebsperling) November 13, 2017
“But, Mark,” you might ask, “don’t we need to lower taxes on corporations and the wealthy in order to spur growth and create jobs?” Well, the answer is no. There is absolutely no evidence that trickle down economic works. We’ve tried it, and we know the results are disastrous. And, for what it’s worth, we also know what actually works to spur the economy, which is putting money into the pockets of working men and women, and growing the middle class. But this, as I think we’ve established, was never about spurring the economy or creating jobs, but about putting money back in to the coffers of our most rich. The truth is, our corporations are raking in record profits right now. As Trump himself tweeted just a few months ago, “corporations have NEVER made as much money as they are making now.” In spite of that, though, they aren’t investing. And, for what it’s worth, there’s no evidence that they’d start investing if this new Republican tax plan were to pass. In fact, check out this Wall Street Journal video, where Gary Cohn asks CEOs to raise their hands if they intend to invest, should this tax bill get passed. [Spoiler alert, very few hands go up.]
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
One hopes, now that the Republicans are talking about adding a backdoor Obamacare repeal to the “Tax Cuts and Jobs Act,” the American people might actually get motivated to push back, like they did this past summer. [From the New York Times: “Senate Republicans have decided to include the repeal of the Affordable Care Act’s requirement that most people have health insurance into the sprawling tax rewrite, merging the fight over health care with the high-stakes effort to cut taxes… If it becomes law, the repeal would save more than $300 billion over a decade but result in 13 million fewer Americans being covered by health insurance by the end of that period, according to the Congressional Budget Office.“] But, as of right now, I haven’t seen much sign of action. In fact, while I’ve heard that Senator Susan Collins has concerns about the legislation, I’ve also heard that the Republicans currently have all the votes they need in the Senate, which is where the battle will be won or lost.
Given the current makeup of the House, anything that’s brought to a vote will be passed by the Republicans. In the Senate, though, as we saw with this past summer’s multiple unsuccessful Obamacare repeal efforts, there’s a chance, as Republicans like Susan Collins (Maine), Lisa Murkowski (Alaska), and John McCain (Arizona) showed backbone and stood up against the likes Trump, Ryan and McConnell. Sadly, though, I haven’t seen any evidence yet that they might be up for another fight… So, with that in mind, I’d like to ask, if you have a few minutes today, that you call your Senators, especially if you live in states represented by the likes of Collins, Murkowski or McCain… or even Bob Corer (Tennessee) and Jeff Flake (Arizona), who have been more outspoken about the President in recent weeks… and demand that they vote no on the “Tax Cuts and Jobs Act” (as even Alan Greenspan has suggested) or, at the very least, hold open, public hearings before bringing the legislation to a vote. And, if, like me, your Senators are Democrats, call them anyway, and demand they do everything in the power to slow this down, giving us time to get the word out about how this will impact the working families of America. [For instance, did you know that, almost immediately upon passing, this legislation would cut Medicare by $25 billion per year? Well, it would. And everyone should know that.]
You can find contact information for your Senators here.
This, as Joe Biden might say, is a big, fucking deal… So far, we’ve blocked every piece of legislation that the Trump administration has tried to pass, and we can’t stop now. We have to keep fighting, if not for ourselves, for our children, who will inherit this mess.
Tell your friends. Call you Senator. Stop this giveaway to the super-rich that’s being funded on the backs of working American families.
And one last thing… To Paul Ryan and those Republicans who keep telling me how awesome this legislation will be for me and my family, as it’ll simplify our tax forms and cut our annual federal tax bill by a few hundred bucks a year… With all due respect (which isn’t much), fuck you. Whatever small amount of savings we may receive, will be immediately eclipsed 100 times over by the loss in services that we’ll experience as the federal government contracts to cover the $1.7 trillion in unfunded tax giveaways in the “Tax Cuts and Jobs Act”. And I have no doubt whatsoever that whatever extra money we might have, if there is any, will go immediately to help friends left without health insurance due to the passage of this legislation… I get that, in order to get this monstrosity of a bill passed, you have to lie about its contents, but it would be refreshing if, for just once, you had the courage to be honest about your motivations and intent… Why not, for instance, call it the “Make The Super-Wealthy Even Richer While You Pay For The Chemotherapy Of Your Friends Act”?
Oh, speaking of Paul Ryan, did you happen to see this? What a fucking load of shit. Giving working people back a few hundred dollars while slashing Medicare, kicking 13 million people off their health care plans, and increasing the burden on the elderly does not give anyone “peace of mind,” you evil, lying asshole.
Our plan means more money in your pocket, more take-home pay in your paycheck, and more peace of mind in your life. pic.twitter.com/Y7dxDrIfrC
— Paul Ryan (@SpeakerRyan) November 15, 2017