All the GOP needs is three or four of their U.S.Senators to vote no along with the democrats to defeat the tax scheme that benefits corporate America and the wealthy. A majority of 51 votes is needed instead of the usual 60 because the GOP is handling the issue under their budget reconciliation process which favors the GOP as they control the Senate.
A lot more republicans in the U.S. House would have to vote no with the democrats to defeat the measure so the best chance for defeat would be the U.S. Senate. This writer believes the GOP will pass the bill because like Trump, they are committed to the swamp of corporate America and the wealthy. With out their campaign contributions, there would be no swamp. And remember, during the campaign, Trump said he contributed to members of congress because when he needed a favor, he called them. In other words the trumpet man was part of the swamp in politics before he decided to run for President.
The scheme and fraud of Trump's tax plan is "trickle down economics" that will create jobs, bring back jobs to America, make corporate America more competitive, raise the wages of the middle class and a hundred other lies like the ones told about Trumps and the GOP health care plans. And just last week Trump added another lie when the stock market hit a new high which he contributed to his tax plan. The fact of the matter tells us that the stock market tripled on President Obama's watch and corporate America"s taxes were not reduced 15% like Trump wants to do.
The record is clear. Reagan and Bush 43 tried trickle down economics and the Clinton administration's economy did better in every category, and much better, including balanced budgets with surpluses. Reagan and Bush never even came close. All they did was create debt. Trump's tax plan like Reagan and Bush will take trillions of dollars out of the federal treasury and distribute that to corporate America and the wealthy. The Reagan administration also gave the country the Homestead Savings and Loan meltdown which cost the federal government one Billion dollars to bail out. And of course the Bush administration gave the country the collapse of the Wall Street Banks that cost the government over %800 billion and the worst economic recession since the great depression. I often wonder what those financial institutions did with the Reagan and Bush tax cuts.
President Obama, taking office with the great recession left by Bush, the economy and every thing that goes with it did much better and the President allowed the Bush tax cuts to expire for those making over $550,000.00 a year. Corporate America and the wealthy has done well under the present tax rates.
True tax reform would be the elimination of all the special interest tax breaks and a fair tax code where every one pays his or her fair share, even the poor. The GOP long ago identified who they cater to and Trump has done the same as President. There's also a special motivation for Trump and the GOP to pass their tax scheme. Both have failed to pass any positive legislation in Trump's 9 months in office and they are hungry for any victory, even if it cost the country and the people dearly.
There were three or four republicans in the U.S. Senate who stood up and said they would not support their party's health care plan introduced by Graham-Cassidy and the GOP pulled the bill as a result. Will there be three or four more who will stand up and oppose the latest GOP lie called tax reform? Go ahead, make this writers day.
This commentary written by Joe Lorio
