I’ve become reluctant to write letters to the editor on divisive issues − no good increasing the angry political divisions we seem to have devolved to. But I think the tax bills in Congress should be an issue on which a lot of conservatives can agree with lefties like me, if for different reasons. How can anyone support bills that would increase the national debt by over $1.5 trillion during a time of prosperity and (relative) peace? And neither bill does much to address all the loopholes and complexities that make the actual effective corporate tax rates somewhere between 13 percent (GAO) and 22 percent (Treasury).
Senator Johnson (for once he gets my blessing) has spoken out against the rushed process, lack of information and structure of the Senate bill, which favors large businesses over small businesses like sole proprieterships, LLCs and other “pass-throughs," which employ more people and are more the engines of economic growth. There are also “poison pills” for the ACA and − not widely known − Medicare, which can be cut if the deficit is greater than a certain amount, which seems likely. And note that the tax cuts for individuals are temporary − for corporations, permanent.
So thank Senator Johnson for his lonely Republican opposition to this bill − he’s already under attack; Google “contact Senator Ron Johnson” and just see the ads that pop up − I followed up on the front organizations sponsoring them, and yep − it’s the usual suspects.
And − paging Tim McCumber − time for your knee-jerk defense of this bad legislation!