Opinion: An ethos of more, more and more….

(AP)

This is an administration of the rich, by the rich and for the rich. In fact, Americans have not seen an administration this blatantly tilted toward the interests of the wealthy in at least a hundred years, if ever.

And while that’s remarkable in its own right, it’s even more so when you consider the context:

1.) This administration has come to power in an era when wealth is already highly concentrated and income inequity is already at record high levels.  Look around you. The stock market has never been higher. Corporate after-tax profits have never been higher. The amount of wealth concentrated among the top 1 percent and top 0.1 percent has never been higher, at least not in modern times. Yet in every way imaginable — through regulatory changes, through tax policy, through the people it has placed in positions of power — this administration is implementing policies intended to make those inequities worse, not better, to make the powerful more powerful still.

2.) By this point, those inequities and the dangers that they pose to the economy and to our country’s identity are well-recognized. History tells us over and over again that democracies do not thrive in countries with extreme differentials in wealth. Furthermore, this administration was elected on the explicit promise that it would take the side of the forgotten little man and woman against Wall Street and transnational corporations and the powerful establishment. By doing the exact opposite, by tightening the ties linking Washington to Wall Street, it is perpetrating a bait-and-switch scam on a scale seldom if ever witnessed in American politics.

You may recall that during the campaign, the American people were promised cheaper, better health care for everyone, with full protection for those with pre-existing conditions. What they got instead was a plan that would have stripped insurance from 20 million to 30 million Americans, with the money saved going to the wealthy in the form of tax cuts.

They were also promised over and over again by Donald Trump that foundational programs such as Medicaid and Medicare would not be touched, that their budgets would be sacrosanct. Instead, they have witnessed repeated underhanded efforts with Trump’s approval to strip hundreds of billions of dollars from those programs, with the proceeds again earmarked for the already rich.

They also heard heartfelt promises to address the opioid crisis that is killing tens of thousands, but have gotten nothing but proposed cutbacks in the few treatment programs that already exist. They were promised a major infrastructure investment program, and got nothing. They were told that firms such as Goldman Sachs exemplified the establishment that was rigging the system against them, then saw the entire economic policy-making structure handed over to Goldman Sachs officials. They were promised that trade deals would be renegotiated, and have gotten nothing. They heard promises to break the iron grip of Big Pharma in setting drug prices, and instead have watched as longtime pharmaceutical lobbyists have been installed as foxes to watch the lucrative henhouse.

They — you — were also promised a middle-class tax cut. Instead you got this:

 

 

That’s a chart of the impact on the Senate tax cut bill, released over the weekend by the Joint Committee on Taxation and the Congressional Budget Office. Positive numbers mean that Americans in that particular income bracket will be “contributing” to reduce the deficit, either by higher taxes or lower benefits. Put another way, those are the folks who will suffer a reduced standard of living under this bill.

Likewise, negative numbers mean that those in that income bracket will benefit financially under the bill.

If you do the math, more than half of the benefits in 2019 go to the 6 percent of taxpayers with incomes above $200,000, while those households making $30,000 or less will take a net loss. From there it gets worse, because under the bill, the tax policies that help the poor and middle class are repealed or lose effect over time, while those that help corporations and the rich are permanent.

By 2027, 65 percent of American households — the poorer 65 percent — will be losing money and will suffer from a diminished standard of living as a consequence of this bill. By 2027, the top 35 percent will still be benefiting handsomely. It is almost unbelievable that in times such as these, a bill like this could be so close to becoming law.

Yet there it is.

Reader Comments 0

1783 comments
Opey
Opey

For over thirty years republican media has told their audiences that if you cut taxes for rich people it will make middle class and poor people rich. They have heard this day after day, hour after hour, minute by minute, for two generations now... This is an indisputable fact for them.

Is it true? Who knows? Doesn't really matter so long as they believe it.

So what does the left do to try and dispute this indisputable fact?

Hey, how bought we get that Bookman fella down in Atlanta to publish a news paper article next Wednesday. That'll show em. 

There have been a few commenters on CNN and MSNBC in recent weeks disputing these so called "facts". But what good will it do? Trying to change millions of people's minds in a couple of weeks versus decades of of constant non-stop propaganda is useless.

StraightNoChaser
StraightNoChaser

 Fan4500 1 minute ago

@justaniceguy @Fan4500 @StraightNoChaser Cry me a river. The election is over. Deal with it.


So much intellect and insight-fullness in your post Fan.  The only problem is that it has absolutely nothing to do with the original post that you are deflecting from. Same old three phrase clod hop that you use for everything.  Bye troll

TBS
TBS

Dream on

Kamchak
Kamchak

My roots are exclusively Polynesian and Inuit.

PaulinNH
PaulinNH

@TBS Yep.  All Corker is doing is applying a little Kabuki before he votes for the scam.

TBS
TBS

They know it’s a scam but will still say and do whatever it takes in efforts to get it passed

Finn-McCool
Finn-McCool

@TBS from the same link:

"The Senate bill already has a trigger that works in the opposite direction than the idea suggested by Corker. This trigger would give businesses an additional $120 billion in tax breaks if the bill adds more revenue than currently projected. Businesses would still get the money even if the tax bill as a whole adds hundreds of billions in debt, according to David Kamin, a tax law professor at New York University. Kamin told the Washington Post that the provision is “a one-sided bet, a one-sided giveaway to business.”

Kamchak
Kamchak

@Infinite Hope

Only an idiot would fear another opinion.

The skeeeeered card.

LOL!

More projection than an IMAX theater.

Just sayin'

Infinite Hope
Infinite Hope

@TBS  Same fallacy must be in Jay's comment.  Hmmmm.


Another fallacy:  I posted as fact, rather than as a link to another opinion. 

rimsky
rimsky

Mr Paulin NH gave me a great idea on the items on a English/Irish Breakfast menu.

PaulinNH
PaulinNH

@rimsky "Full English" - sausage, bacon, egg, toast, fried tomatoes, baked beans

honested
honested

@rimsky @PaulinNH 

The missus got some "Irish Breakfast" tea.

I was surprised that two potatoes and a pint of whiskey could be squeezed into the teabag envelope.

PaulinNH
PaulinNH

I just read down blog someone claiming that they are English/Irish.  Can someone explain to me what is "English".

TBS
TBS

A language?

honested
honested

@PaulinNH 

Apparently something that allows nedrecks to feel superior.

PaulinNH
PaulinNH

@MaryElizabethSings Anglo-Saxon?  What about Vikings?  Normans?  Romans?

Heck - I know people who speak in exactly the same accent as me but their ancestors were born in the West Indies.  

And then there is the Irish part of the statement.  That's just as complicated as the English part.

MaryElizabethSings
MaryElizabethSings

Celtic roots. Anglo-Saxon roots. Many so called English have DNA of German, French, Scandinavian mixed in their DNA - about 30%, to their surprise.

Being English also means having partaken of that culture for decades or generations, also. Ditto, French and many other "pure" nationalities throughout the planet.

MaryElizabethSings
MaryElizabethSings

See my second post on cultural purity, PaulinNH. The point is that every human being on this Earth is - and was - unique. We are just discovering that fact in great specificity now.

StraightNoChaser
StraightNoChaser

 JohnnyReb 9 minutes ago

 plus I can listen to Rush while working.


I would rather listen to someone scrape their nails across a chalk board for three hours which will never happen.

rimsky
rimsky

@StraightNoChaser That is what is called a white privilege.  Big companies do not allow entertainment during work hours.

Fan4500
Fan4500

@StraightNoChaser "I would rather listen to someone scraping their nails across a chalk board for three hours which will never happen."

That's how most people feel about listening to obama or hillary speak.

:)

Fan4500
Fan4500

@StraightNoChaser @Fan4500 Wow! I didn't know that!. Why didn't you say so?

The cover of Time magazine? That makes all the difference in the world. 

(sarcasm)


LOL

What a joke.


StraightNoChaser
StraightNoChaser

@Fan4500 @StraightNoChaser Trump is a joke, I agree.  Time is so important to Trump that he has fake covers hanging Maralargo.  When Trump leaves the White House people will pay the same price that they pay to go to a circus to hear him speak.  His name is sheit already, hotels are even removing his name because he's bad for business.

honested
honested

@Fan4500 @StraightNoChaser 

Some people earn the respect to be on the cover.

Some people who will never earn the respect of anyone else use their connections to buy the publication in hopes of being on the cover.

justaniceguy
justaniceguy

@Fan4500 @StraightNoChaser It's not a joke that a grown man (much less a "president" of the USA) pitches little tweet fits about not being on the cover.

It's not a joke that that same tiny handed man-baby has fake TIME covers plastered on his walls to make his sensitive little fee fees feel better.

It's sad, and somewhat disturbing that such a small, pathetic man is at the helm of our country.