rooster -- so, when are you going to give your workers the $4,000/year raises which Trump promised they'd get because the tax cut got passed?
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The Trojan Horse in the Tax Bill
Tom Brenner/The New York Times
By Bryce Covert DEC. 20, 2017
Congressional Republicans have finally done it: Both the House and Senate passed tax legislation. The bill has now headed to President Trump’s desk for his signature.
But this bill also serves as a setup for steep government cuts. Programs from Medicare to flood insurance to food stamps will be at risk the moment President Trump’s signature dries. Some reductions would be inflicted automatically. Others, Republicans will pursue with a handy justification — the revenue hole created by their own legislation.
Under the Pay-as-You-Go Act of 2010, or Paygo, the Office of Budget and Management has to order automatic spending cuts if legislation passed by Congress is set to increase the deficit and the rules aren’t waived or the loss isn’t covered by new revenue. According to a Congressional Budget Office analysis [ https://www.cbo.gov/publication/53319 ], spending cuts would have to total $136 billion for a bill, such as the tax legislation, that increases the deficit by $1.5 trillion over a decade.
The rest of the $111 billion would have to come from other mandatory government programs, and because most have no protection, they would be reduced to barely any funding or nothing at all. That includes block grants for things like Meals on Wheels, farm aid like the crop insurance fund, the Temporary Assistance for Needy Families program and the National Flood Insurance Program.
Some of the reductions would be huge: the Department of Justice’s Crime Victims Fund, which gives states money to help victims with medical expenses and counseling, faces a $13.5 billion cut. Others have sources of funding that aren’t subject to Paygo but still take a hit, like the Women, Infants and Children program that provides food to low-income mothers and would be cut by $1 million.
Some cuts would probably rankle Mr. Trump as much as anyone else. Border protection would face a potential $1.3 billion cut. Immigration and Customs Enforcement would be slashed by $318 million. H-1B visa fraud protection would be cut by $45 million.
All of this happens without Congress lifting another finger. The Republican leaders Mitch McConnell and Paul Ryan have claimed [ https://www.vox.com/policy-and-politics/2017/12/1/16726452/republican-leaders-paygo-medicare-tax ] that Paygo cuts won’t happen because Congress will waive them. But that requires help from Democrats, who have been completely shut out of tax reform and may have little appetite for cooperation.
Many Republicans have claimed that the tax bill won’t cost the government any extra money. The Treasury Department put out a one-page paper [ https://www.treasury.gov/press-center/press-releases/Documents/TreasuryGrowthMemo12-11-17.pdf ] on the Senate-passed version that said it would be paid for by economic growth. But the threadbare analysis was able to come to that conclusion only by assuming that Congress passed other legislation, such as an infrastructure bill.
Republican leaders have wanted to this for a long time. Mr. Ryan has been salivating over cutting Medicare, Medicaid and Social Security for as long as he’s had a political career. Mr. Trump’s 2018 budget proposal [ https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/budget.pdf ], released well ahead of the tax legislation, named “welfare reform” one of its core pillars.
But now that they’ve succeeded in passing a tax package that will reduce government revenues so much, the ensuing cost will serve as the excuse to get everything else they want. They’ll count on our short memories to forget who created larger deficits in the first place. Those deficits will serve as the motivation to enact cuts they’ve sought all along. The tax bill isn’t just a regressive giveaway to corporations and the rich. It’s a Trojan horse with deep government reductions stuffed inside.
It's logical AT&T would throw some scraps to encourage you and others to see some good where in reality on balance there isn't any in one of their biggest current benefactors.
First off, your party hates unions and will do everything in it's power to eliminate them. Just a matter of time before the GOP Governors institute right to work in their states.
I'll speak for my self but I have no problem with the rich being rich. Most of my neighbors are in that category and are great neighbors. But I believe their wealth should not be increased in a tax cut that gives to them more while taking from the rest of Americans. Especially when the pussy grabber himself gains billions on this scam of a so called tax cut for the middle class. Trickle down has never worked and won't work now.
Maybe you should try something different and learn the facts about income inequality and not the typical propaganda you're accustomed to and read this article. PLEASE!
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