1. People do not understand the horrifying, country-threatening consequences of the soaring deficit created by tax cuts. This is not about whether Social Security/Medicare are cut. That's just a piece of it. It's about whether America is over. politico.com/story/2018/06/…
2...Government economics, truthfully, is not hard. In an economic downturn, governments need to increase spending and cut taxes. Essentially, deficit spending is what is used for when the economic house is on fire. But, starting in 2001, the Republicans have been pushing....
3...policies that have no basis in any economic theory: Massive tax cuts and spending increases at times of economic calm or strength, at a time of huge debt. This has never been done before in world history, for obvious reasons. The tax cuts starting in 01....
3....along with massive spending increases pushed up the debt dramatically. When the economy collapsed in 08 the usual deficit spending approach wasn’t available easily because we had already piled up huge debt during decent times. When Obama took over, he had to do....
4...traditional economy boosting deficit spending while ALSO cutting the deficit because an economic downturn automatically causes it to explode. So he had to do targeted cuts. But GOP convinced its base that the debt piling...
5...up was the consequence of Obama recklessness when in fact he was cutting the deficit he inherited in a horrible economic time. Of course, cutting the deficit rapidly slowed our recovery but that was the only choice we had because of GOP recklessness....
6...now we are in strong times with huge debt - a point where no rational economist would EVER cut taxes. The business cycle will turn (it always does) deficits - which have already exploded - will explode more, causing massive borrowing. Only way to stop it - cut....
7....spending and increase taxes, exactly the wrong thing to do in a downturn. So we will have a choice - pile on trillions of more debt, which will increase the amount we pay in interest each year dramatically, or knowingly drive ourselves into a major collapse. This has....
8....been done solely because rich people and corporations are idiots, only thinking short term with “I don’t want to pay taxes” mindset. This is how empires fall apart. We will have no good choices in the next downturn. Even the rich will lose....
9...huge sums as markets get hit. So whatever they saved in taxes will be more than offset in economic collapse. I don’t know how to escape it. The lies of “tax cuts pay for themselves” and “the deficit doesn’t matter”’(when its run up by republicans)!will not carry us past....
10....reality. When the collapse happens, Fox and the republicans will blame the democrats. As if it matters. Whose to blame? Idiocy and greed, posing as economics.
