Guy Who Voted to Add $1.9 Trillion to the National Debt to Fund Rich Person Tax Cuts: Think of the Children
Photo credit: Anna Moneymaker - Getty Images
We came across a series of rules that the United States will spend $ 3.5 trillion without blinking when it comes to war. We will also be spending huge sums of money if it means big companies and rich people paying less taxes. At the same time, many of the same people who want to "run government like a business" would prefer not to see taxes as revenue brought in to offset the cost of government initiatives. In contrast to the napkin stylings of the Presidential Medal of Freedom (!) Recipient Art Laffer, the real world has shown time and time again that lower taxes don't magically lead to more revenue by generating explosive private sector growth.
The 2017 Republican Tax Act, whose benefits went disproportionately to people and entities already doing A-OK, was estimated by the Congressional Budget Office to add $ 1.9 trillion to the dreaded national debt over a 10-year period. None of the Republicans in Congress who passed it on a party basis seemed to care. The Budget Reconciliation Act currently under consideration, which would dramatically expand and strengthen the American social safety net, would cost $ 3.5 trillion over 10 years, although it would adjust the tax bill to generate more than $ 900 billion in additional revenue . Anyway, Nebraska Senator Ben Sasse, who voted (with a contentious statement attached) to add nearly $ 2 trillion to the debt a few years ago so rich people could pay less taxes, is now convinced that the Law of Atonement is a mortgage for the future of our children.
Is it "taxing the boys" sending them to college? Is it "taxing the youth", providing childcare and paid family leave, even if the Democrats work through a highly questionable mechanism to ensure the latter? Is it to "tax the youth" seriously to begin the process of decarbonizing our energy and transportation systems so that the youth will have a planet to live on that is as hospitable as possible to human civilization as we know it ?
This is really just boogedy-boogedy by Sasse, who seems to have missed the memo that no one is pretending to care about The National Debt anymore. People who have tried to block more government spending - a method of investing in our people and providing social goods that the free market could not deliver - have feared runaway inflation due to some soaring prices in recent quarters. This is by no means limited to Republicans. Conservative Democrats like Joe Manchin are also sounding the alarm about inflation and even debt, which again doesn't care as long as we use bullets and bombs and Predator drones and top-notch tax cuts and fighter jets that don't work on the credit card. The nickel-and-gram approach only comes into play when we are talking about investing in things that could help people who have failed to hire enough lobbyists to advance their interests in the marble halls.
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