Pretty simple question.
I guess the answer depends on who you ask.
But it is clear that removing 15% or more of the tax collections will need to be paid for by someone… Sometime.
Doesn’t that go against what the Republicans have been telling us for the last 35+ years…
You got to ‘PAY FOR IT’… oh… that was additional spending.
So now they need to spend less to pay for it.
What’s on the chopping block ?
For starters, since it’s in the same bill of the tax cut, they repealed the individual mandate for the ACA/Obamacare and that will cause it to implode. I wonder if we now have a path to repeal the individual mandate for auto insurance… isn’t that preformed with the same theory.
Social Security… something they have been against since it’s inception.
Medicare… same as above.
Welfare… same as above.
Now it is their chance to reduce the budgets of all those ‘EVIL’ hands of the government that watch over corporate America to insure they don’t poison our water, air, land and food and watch over the banks so they don’t cause a total collapse of the economy that have been reducing the profits of those corporations.
If they only wanted to get profits made overseas to come back to the U.S., why not just reduce the taxes paid on overseas profits. It is the only benefit we will really see for this tax bill. The profits will most likely be used to buy back diluted stock, thereby increasing the value of a share of it. Giving more power to those insiders who already own most of it. You can not explain the valuation of the stock market any other way since even while profit margins may be at the highest level in history, they have found ways to spin most of it so the shareholder does not reap the rewards of their investment in favor of the upper tier of the company and it’s board of directors. So the stock market has nowhere to go now but down. The above mentioned benefit is already baked in to the market.
So the cuts will come and will you realize when your roads, water air traffic control are in such bad need of repair that you paid for that depreciation of your infrastructure with tax cuts. The new retirement age ill likely be age 70 when this is all said and done. And the medical/pharma/health care systems collapse.
Someone will pay for it… YOU ?
The only question I have is WHEN ?
You can not run this kind of defecate spending more than a year or two max and we will have a new crisis that these republican’s should take credit for but will likely blame someone else as always.
Funny since the republican’s are the ones that warned what would happen when budgets were busted that bad and they are the ones to do it.
Oh… that was just a method to cut the regulatory arm of the government…. for more profits…
So I guess the real reasons are the same all this time.