What the GOP really wants
What do Republicans want?
First and foremost, they want at least one major congressional accomplishment in 2017. It looks like they can claim that with the tax bill. The lion’s share of the tax cuts will go to those who need them the least: large corporations and the rich. The rich get a double benefit because they’re the owners of the corporations.
However, most taxpayers will get some tax reduction — at least in the short-term. What will really grow is the federal debt. Our children and grandchildren will be paying for this Christmas present for the rich for the rest of their lives.
Republican leader Paul Ryan claims that the dramatic cut in taxes will mean, “faster economic growth” and “better jobs” being created, which will more than offset the loss in tax revenue. Most economists, including the Congressional Budget Office, believe that it will increase the debt by an extra trillion dollars or more. As President Donald Trump tweeted, “Unemployment is down to 4.1%, lowest in 17 years. 1.5 million new jobs created since I took office. Highest stock market ever, up $5.4 trill.”
The tax cut is but the first step in the Republican “starve the beast” (federal government) strategy. Their next step will be to claim that the debt is so great that slashing entitlement programs — first Medicaid and other programs that help the poor, but then Social Security and Medicare — is the only way to reduce it.
Frank Flaumenhaft
Hilton Head Island
How to submit a letter
Send letters to the editor by email to letters@islandpacket.com or letters@beaufortgazette.com.
Or you may submit a letter online.
Letters to the editor must be 250 words or fewer and include your first and last names, street address and daytime telephone number so we can verify the letter before publication.
You are limited to one letter per 30 days.
Letters may be edited for length, style, grammar, taste and libel. All letters submitted become the property of The Island Packet and The Beaufort Gazette.
Letters will be accepted only if they are typed into the body of an email, not sent as an email attachment.
This story was originally published December 27, 2017 at 6:00 AM with the headline "What the GOP really wants."