Thursday, September 28, 2017

On Taxes - Pt. 3 (broken promises)

Remember the phrase, "If you like your plan, you can keep it"? As an Obama supporter, I came to dread hearing those words because I knew they weren't true. I wish he would never have uttered them, because broken promises hurt politically. 

Well, Mr. Trump, you have the floor:
"The rich will not be gaining at all with this plan," Trump declared again last week. 
OK. I'm not enough of a sucker to take Donald Trump (well-known serial liar) at his word. What about some others? Surely, a former Goldman Sachs executive would never lie to us!
Treasury Secretary Steven Mnuchin vowed that "any reductions we have in upper-income taxes will be offset by less deductions so that there will be no absolute tax cut for the upper class."
OK. They both said it. Can we trust them? And for what it's worth, I don't "believe in" trickle-down economics for one simple reason: cutting taxes on the extremely wealthy has been tried (repeatedly) in the past few decades and that money has not "trickled down," even after waiting for decades. 

My test for credulity as to "trickle-down" economics is the same as it is for that perpetual motion machine: I'll believe it when I see it.

As Jerry Maguire so memorably said, "Show me the money!"

As an incidental note, I wonder how Indiana's congressional delegation intends to vote on this and whether they intend to (ever) hold a town hall to defend such vote.

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