“You know he’s lying because his lips are moving.”
Never has this popular phrase been more apropos than its use as respects the sitting President of the United States.
The compulsive liar residing in the White House is at it again. This time the subject matter is tax reform.
President Trump has promised to deliver to middle working class people the “most massive, beautiful tax cuts in history.” He says that the current tax reform bill being debated in congress is the vehicle through which his promise will be fulfilled. He promises that it will spur economic growth, create new jobs and increase wages.
Like most things that come out of this president’s mouth…that is a lie.
According to every single independent economic analysis of the proposed tax reform bill; 55% of the tax benefits will go to the largest corporations and top wage earners. Tax payers making $75,000 and less will actually see their taxes rise over the course of the next ten years.
As far as economic growth and job creation…
Ronald Reagan reduced taxes in 1986. Wages DECREASED over the following ten years.
George W. Bush gave us the famed “Bush Tax Cuts.” What followed was massive unemployment and a catastrophic recession second only to the Great Depression.
At a recent economic forum Trump’s Director of the National Economic Council and chief economic advisor, Gary Cohn asked a packed auditorium of CEO’s if the proposed tax cuts would motivate them to increase their capital investment. About five hands went up.
According to Trump the economy is strong, job growth is steady, unemployment is down, the stock market is posting record highs and corporations are generating record profits. So why are wages stagnant? Why aren’t corporations investing those record profits into capital investments, job creation and higher wages? Why would tax cuts motivate large corporations and wealthy individuals to change what is already working so well?
The answer of course is that it won’t because there is no correlation between tax cuts and job growth/higher wages. Tax cuts just mean higher profits and fatter compensation packages for the rich. If new found money is to be invested it will be invested overseas where manufacturing costs and wages can be found for pennies on the dollar compared to here in the US.
Oh…and for all those “fiscal conservatives” who beat their breast about the national debt; according to these same independent economic analysts…Trump’s proposed tax plan will increase the national debt to equal 99% of the GDP by 2028. That’s fiscal conservatism we can believe in.
Tax reform is just another example of the continuous stream of blatant falsehoods emanating from this administration. Lies that have become so commonplace that they barely register on our social conscience. Trump has managed to reduce our moral code of what’s right and what’s wrong to a footnote. The actual truth no longer matters because regardless of the facts reality is what someone says it is. Tribalism reigns. Partisan politics trumps moral ethics.
How else do you explain the female evangelical governor of Alabama saying that while she finds credible the nine women who have accused Republican senatorial candidate Roy Moore of sexual misconduct; she will vote for Roy Moore “because we need a Republican in the senate to stand against the Democrats.”
What does that say about our moral compass when a powerful female elected official prioritizes partisan politics over the sexual abuse of women and children?
Donald Trump has given license to the worst among us.