House Republicans proposed an additional $646 billion in tax cuts this week — a number that could grow to roughly $2 trillion over a decade. Having come under criticism for favoring corporations over individuals in the December 2017 Tax Scam, House Republicans are now pushing a bill to make the individual tax cuts permanent.
But that bill can’t pass the Senate this year because it would need sixty votes to do so. This is just a last-minute campaign publicity stunt.
Typically, the deficit shrinks during strong economic times, as the need for costly government support wanes and tax revenue rises. For example, in 2000, the last time the unemployment rate was at its current level of 3.9 percent, the government ran a surplus, meaning tax revenue eclipsed all spending. But with the irresponsible — indeed, reckless — leadership we have in Washington now, the government spent $895 billion more than it brought in from taxes and other revenue sources during the past 11 months, the Congressional Budget Office said this week. Corporate tax receipts fell 30 percent in the past 11 months, the CBO said, precipitated by the large reduction in rates from the massive tax overhaul passed by Congress last December.
You have free articles remaining.
Remember in November: Republicans don’t give a whit for responsible government. For them, taxes and deficits are all about publicity stunts to get re-elected. The last thing we need is to replace a fiscally responsible Congressman like Tom O’Halleran with a radical Republican like Wendy Rogers who would fall into line with games the House Republicans play with our tax dollars.