A friend asked why this website has been ignoring the GOP Tax Cut Bill. Confession: I’ve been tweeting more than blogging — https://twitter.com/ search for @Oglesby Pat, mostly making three non-mainstream points, reproduced below: The Repatriation Tax Amnesty (“Holiday”) would prove an easy source of gimmicky revenue, the 280E marijuana tax would not be repealed, and the alcohol tax cut is shameful. Yes, I’ve fallen prey to “short-term, dopamine-driven feedback loops” of social media – and to laziness.
OK, here goes for the Tax Cut Bill overall, with bad news and good.
Bad news: The GOP tax bill is the worst tax bill I’ve encountered. We will borrow more money we won’t pay back (in sound dollars). Tilting to the rich, the bill will make the poor poorer.
Good news: This tax cut bill won’t stand the test of time. Continue reading “GOP Tax Cut Bill: Bad News and Good”