Republican opinion writer George Will never seems to tire about his own contradictions. The latest published in the New Orleans Advocate of 4/6/21 titled, "Biden and progressives hypocrisy about tax increases" Will opines the long standing republican mantra that raising corporate taxes to finance spending on the federal level such as the President's infrastructure proposed legislation should be financed instead by money creation or borrowing.
Of course borrowing money means deficit spending and debt, something Will and the republican party say they are opposed to. Which contradicts the republican record of deficit spending and debt for the past 40 years. Will knows that but just turns his head and looks the other way. Will's statement that with "NO CORPORATE TAXATION" foreign countries would rush to invest here. A statement not supported in fact. But Will says "WISE PEOPLE" favor a corporate tax rate of zero.
The secret to understanding Will's comments points to the fact he could not talk or articulate about the Reagan, Bush 43 and Trump tax cuts for corporations and any positive impact they had on those administration's economy. Nor did he mention how the country and its people did much better under the administrations of President Bill Clinton and Barrack Obama who did not cut taxes for Corporations.
And Will did not mention how the Reagan, Bush 43 and Trump administration gave the country an economic recession despite the massive tax cuts. And he was not about to mention the fact that every republican administration in the past 100 years gave the country and its people an economic recession.
The record of the republican party concerning tax cuts for corporations, the economy, job creation, deficit spending and debt has been one great failure. Their failed ideology extends to not understanding consumer spending accounts for 70% of the economy and having good paying jobs is what fuels consumer spending. The democratic party understands that and that is where their policies and plans are directed.
Will knew he could not write anything of interest about the tax cuts of Reagan, Bush43 and Trump to try and prove his support for zero taxes for corporations. He also knew he could not write about the nations economic well being under President Clinton who raised corporate taxes and the nation did better in every economic and fiscal category and far out paced those republican administrations in job creation. Corporate investment in plant and equipment even did better on Clinton's watch. The republican's corporate tax cuts were supposed to be a boom for corporate investment in plant and equipment, but the boom took place on Clinton's watch.
The middle class are the only ones who are paying their fair share of taxes and those taxes could be lowered if all the tax breaks and loop holes for special interest and business would be eliminated. And when republicans try to justify that companies like Amazon who pay no taxes, one can understand why their tax policies favor corporations. Will could not even articulate how the most recent tax cuts for corporations under the Trump administration was beneficial to the U.S. economy, job creation, reducing deficit spending and debt or how American companies moved their overseas operations back to the states. Nor did foreign companies flock to move their operations to the U.S.
The ideology of "TRICKLE DOWN ECONOMICS" is still alive in the republican party and Will's culture despite its failures. And there fore the future under President Trump's 4 year administration was like the failed past of previous republican administrations. The future of the Clinton years were much better than the 12 years of Reagan/Bush41. The future of the Obama years were much better than the previous 8 years under Bush 43.
And the future under President Joe Biden will be much better than the past 4 years under President Donald Trump. And the real story is still, those who understand the mistakes of the failed past will be able to create a better future for America and its people.
This commentary written by Joe Lorio
