(C) Daily Kos
This story was originally published by Daily Kos and is unaltered.
. . . . . . . . . .
Republicans incentivized shipping jobs and profits overseas. Democrats aim to undo the damage [1]
['Daily Kos Staff', 'Backgroundurl Avatar_Large', 'Nickname', 'Joined', 'Created_At', 'Story Count', 'N_Stories', 'Comment Count', 'N_Comments', 'Popular Tags']
Date: 2023-03-08
Clowns to the left of me, jokers to the right. And here I am, getting scammed by Republicans with you.
It's been a few years and we've been through one crisis after another, so I wouldn't be surprised if many folks—not Daily Kos readers of course, I mean other folks—have long forgotten the nonsense that was the Tax Cuts and Jobs Act of 2017, colloquially referred to as the 2017 GOP (or Trump) tax scam.
The process of writing and passing that bill was a disaster from beginning to end because Republicans are bad at governing, even when they have all the power. People who actually care about this country were able to stall it for months—an incredible achievement considering we were living in a Republican hellscape at the time—but then, after adding some handwritten notes in the margin of a bill most of Congress hadn't even read, it was hastily passed in December 2017. And boy, have we been paying for it ever since.
Rather than jolting the economy as former House Speaker Paul Ryan/Mitch McConnell/the Trump administration promised, the tax scam hurt American jobs. Harley-Davidson shut down a Missouri plant, leaving 800 employees out of work, and an Oklahoma energy company laid off 400 employees due to tax law changes. Declining tax revenues from the legislation precipitated a brutal 35-day government shutdown as Democrats attempted to negotiate with Republicans. From conception to implementation, the GOP tax scam was an absolute disaster for the United States.
Paul Ryan promised a tax cut for everybody, at all income levels, while also paying down the debt. I'm no economist, but I did survive Reaganomics (so far, anyway) and the math wasn't mathing. Don't take my very astute analysis for it: The Washington Post wrote the claim was "worthy of Four Pinocchios." And the Congressional Budget Office, the Joint Committee on Taxation, the Tax Policy Center, and many other actual economists agreed.
The 2017 GOP tax scam was a 10-year, $1.5 trillion windfall for the wealthy that, among other things, created huge incentives for corporations to export jobs and profits overseas. That’s a problem that Democrats now aim to fix with the No Tax Breaks for Outsourcing Act.
Sign and send the petition to your members of Congress: Undo the damage that Trump left behind. Pass the No Tax Breaks for Outsourcing Act.
[END]
---
[1] Url:
https://www.dailykos.com/stories/2023/3/8/2156909/-Republicans-incentivized-shipping-jobs-and-profits-overseas-Democrats-aim-to-undo-the-damage
Published and (C) by Daily Kos
Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified.
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/dailykos/
