It's fascinating how the GOP can shove through a $2 trillion tax cut for the rich during an economic expansion, but during an economic crisis when alarms are blaring and the Fed is begging for them to go big, they support only $600 billion, despite stimulus checks being tax cuts.
Republicans passed a massive tax cut for the rich, and they did it based on the logic that it would not grow the national debt because the rich would spend and invest more and grow the economy. Stimulus checks are tax cuts for the bottom 80% that would boost the economy far more.
Either Republicans are only for making the rich richer, or they don't understand that every stimulus check that goes out is a tax cut that (because it increases spending) pays for itself to a much greater degree than tax cuts for the rich who have lower propensities to consume.
The GOP tax cuts for the wealthy and corporations had a cost of $2.3 trillion. For the same cost, the GOP could instead propose stimulus checks of $1,875/mo for 8 months, and it would grow our economy.
As @RBReich has said, it's a question of priorities.
forbes.com/sites/shaharzi…
As @RBReich has said, it's a question of priorities.
forbes.com/sites/shaharzi…
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