Reuters is reporting on standard political shit by the Republicans:
With congressional elections looming, Republicans in the U.S. House of Representatives on Monday proposed more deficit-expanding tax cuts, an effort seen by some tax experts as unlikely to become law and geared chiefly toward winning votes.
Even if the initiative fails to pass, it could put Democrats in the position of opposing the new tax-cut plan on the House floor, which Republicans could seek to use to their advantage in the Nov. 6 elections where control of Congress will be at stake.
Under the measure, federal individual income tax cuts approved on a temporary basis by the Republican-controlled Congress and President Donald Trump in December would become permanent.
It would also eliminate the maximum age for some retirement account contributions and let new businesses write off more start-up costs.
Nothing particularly objectionable about the maneuvering, but as Steve Benen points out:
Even if we put aside the many substantive concerns – including the fact that GOP officials aren’t even trying to come up with a way to pay for another round of tax cuts – the politics aren’t as clear as Republican leaders would like.
If they continue to not find ways to pay for this – by, say, cutting the Defense budget, which I happen to think is bloated – then Democratic incumbents can respond to attacks by Republican challengers on the issue by saying, You bet your ass, the Democrats were the adults in the room, recognized the national debt is going to ruin us, and we refused to do that. Mr. Challenger, in view of the mess that happened in Kansas when they did what you proposed to do, how can you possibly justify your support for this disaster?
In the case of obverse, the Republican candidate so foolish as to vote for this tax reduction will also face a withering volley.
Appealing to the true fiscal conservative, who is aware that our national financial ruin would result in inflation that would destroy any minor pickups in income for the average individual, and that the Laffer Curve is a theoretical fallacy at worst, and at best only works in certain situations, is the best bet. Being freaking made that the GOP is putting our nation’s future financial health at risk just to get a few votes is both sincere and appropriate, in my view.
