Oh, Yeah, There Was a Presidential Debate Last Week

Donald Trump’s hospitalization after testing positive for COVID-19 has dominated recent headlines, but we shouldn’t forget his disastrous debate performance against Joe Biden.(Photo Credit: Joyce N. Boghosian/White House/Public Domain)

By now, you’re aware that Donald Trump, Melania Trump, three Republican senators, and other members of Trump’s circle have tested positive for COVID-19.

The president was hospitalized at Walter Reed National Military Medical Center and has since left. At this writing, though, he still seems to be pretty darn sick. It’s hard to know what to think when the White House is less than forthcoming on matters of his health and, you know, has a penchant for lying. Still, while the battle against COVID hasn’t been easy for Trump, it doesn’t appear that he will die from contracting the virus—much to the chagrin of liberals and other conscientious objectors to his presidency.

Noting how Trump and his enablers play fast and loose with the truth, some public figures, Michael Moore among the notables, suggested he could’ve been faking it, that this all could’ve been some sort of elaborate hoax. While I was not inclined to make that leap—mostly because I don’t think Trump et al. are competent enough to orchestrate something like that—I could pardon those dabbling in conspiracy theories, especially after the utter debacle that was the first (and hopefully last) presidential debate between Donald Trump and Joe Biden.

If you watched the debate, I’m sorry for your sake, though I suppose there’s some solidarity to be had in the shared pain we experienced. At only 90 minutes, it still felt too long, and watching with other leftists, we felt a communal longing for some sort of drug to make the proceedings more bearable.

If you skipped the debate to watch something with more redeeming value like, say, playoff baseball or paint drying, what was so bad about it? Well, dear reader, let’s delve into it, though I warn you, it’s not for the faint of heart.

The dashes on the transcript denote stops and starts

Before we even to get to the topics raised by moderator Chris Wallace of FOX News fame, let’s address the prevailing theme of the night: crosstalk. There was an untold number of interruptions during this debate, mostly on the part of Mr. Trump, and when he did insert himself in the conversation, it was usually for the purpose of digressing or redirecting the discussion in some disingenuous way.

Mr. Biden, though not rattled by Trump’s disregard for debate convention, was clearly irritated by it, referring to his opponent as a “clown” at one point and asking him point blank to “shut up, man.” If any children were watching, they certainly did not receive a lesson on how to interact with others in a respectful way.

Re the Notorious A.C.B. (yes, some people are trying to make that a thing)

With that behind us, let’s get to the, ahem, substance of the debate. Wallace’s first question got right to the topic on the minds of many: the nomination of Amy Coney Barrett to replace the late Ruth Bader Ginsburg on the Supreme Court.

Trump, speaking first, basically defended her nomination by saying that Republicans won and they had every right to fill that seat. He then stuck his tongue out and made antlers with his hands, waving his fingers in an instigative manner.

Biden, in his rebuttal, replied that the American people should have a say on how that vacant seat is filled by who they elect to be president and vice president. He didn’t really iterate why Coney Barrett’s nomination was wrong insomuch as he speculated what doom her confirmation might mean for the Affordable Care Act and the precedent set by Roe v. Wade (and deservedly so).

Trump and Biden then basically quibbled on how many millions of Americans would be disadvantaged by the other’s health plan until Wallace finally and mercifully moved onto the next topic.

Let’s talk about our crappy healthcare plans that aren’t Medicare for All

With the ACA already on the lips of the combatants, the moderator pivoted to their healthcare plans. Starting again with Trump, Wallace asked the Republican Party nominee, like, do you have a plan? Trump, taking umbrage was all, of course, I have a plan: lower drug prices. Apparently, that’s it. Cheaper drugs.

Biden wasn’t off the hook either. Wallace followed his pointed inquiry of Trump by asking the Democratic nominee why his public option wouldn’t destroy private insurance. Biden responded by saying that the public option would only be for those people who qualify for Medicaid. Trump tried to say that Biden was in cahoots with Bernie Sanders and his socialized (!) medicine, but Biden inferred that because he beat Bernie in the primary, he couldn’t be promoting such a plan. Because that’s how that works.

Trump replied by saying “Obamacare” is a disaster and that premiums are too high. Biden, in a nod to Wallace’s original question, pointed out that Trump still doesn’t have a healthcare plan. Trump countered by babbling on about the individual mandate and not wanting to be blamed for running a bad healthcare plan and wanting “to help people.” Evidently, that is why he killed the individual mandate and wants to tear the ACA down with nothing to replace it. Are you following? Good. Now please explain it to me.

On handling COVID-19, which totally has no relevance to Trump having to go to the hospital whatsoever

“Why should the American people trust you more than your opponent to deal with this public health crisis going forward?”

This was the question Chris Wallace posed to the debaters, and Joe Biden was up first. Biden, to his credit, gave a solid answer, though give Donald Trump an assist for, well, doing a terrible job. A key highlight was Biden’s attention to Trump’s admission that he knew how serious a threat COVID represented back in February, but that he downplayed the danger. Now, more than half a year later, his administration still doesn’t have a plan.

Trump, apparently of the opinion that more than 200,000 dead Americans is a great success, extolled his decision to close off travel from mainland China—a move that critics judged to be late in coming and haphazard at that. He went on to further toot his own horn, carrying on about how Dr. Anthony Fauci and various Democratic governors said he did a “phenomenal job.” I’m not sure who these governors are, but if they did feed Trump’s ego, they probably just said that so they would actually get the relief they requested.

From there, Wallace turned to talk of a COVID-19 vaccine and its potential availability. Faced with the insistence of CDC head Robert Redfield that a vaccine would not be widely available until summer of next year, Trump professed that, per companies like Johnson & Johnson and Moderna, a vaccine will be ready “very soon.” Biden was all, like, yeah, right, you dum-dum. And Trump was all, like, your college grades sucked. Really. He talked about Biden’s academic performance while in college. Because that’s relevant now.

Because this is 2020, the year without joy, even more about coronavirus

To reopen or not reopen? That is the question.

Trump said yes, citing hurting businesses, and expressed the belief that Democratic governors refusing to open their states back up are playing politics, intentionally hurting the economy to make him look bad. Biden, meanwhile, said no, not without a plan and without the money for PPE and sanitization measures.

Trump then said, well, Joe, why don’t you talk to Nancy Pelosi and Chuck Schumer? And Biden said, shush (literally, he asked if Trump would “shush for a minute”), if you listened to them, you might actually know what you’re doing. Biden, as we all know, sternly opposed to malarkey over the course of the campaign, was having none of it.

Following the shushing, Wallace steered the conversation to the topic of masks and rallies. Trump was all, like, masks? Masks? I love masks! If I need to wear a mask, I do! Right now, I don’t need one. That guy over there, though? He’s kind of a mask freak, if you ask me. And Biden was all, like, masks and social distancing save lives.

Which is when Wallace interceded on the subject of campaign events, underscoring the different approaches these men have taken. And Trump was all, like, hey, man, my supporters are packed together, but I have my rallies outside. Ol’ Sleepy Joe doesn’t hold big rallies because he can’t get anyone to attend. And Biden was, like, nuh-uh. And Trump was, like, yuh-huh. If it seems like I’m being hyperbolic, I am exaggerating, of course, but only to an extent. Many of these exchanges were childish, especially on Donald “My Rallies Are Bigger Than Yours” Trump’s part.

The point at which Trump was probably very glad the debate shifted to the economy

“You gotta open the states up. It’s not fair. You’re talking about almost like being in prison.”

So said Mr. Trump, who, if he actually had to spend time in prison, might not be so apt to use that metaphor. The debate shifted toward talk of the economy, with Wallace asking each candidate to explain their concept of the recovery, whether as a V-shaped recovery (Trump) or a K-shaped recovery (Biden).

In Trump’s mind, he was instrumental in building the world’s greatest economy—and then came along the “China plague.” No, seriously, he called it that. Now Joe Biden wants to shut down the economy. And what will that do? Depression! Divorce! Alcoholism! Drugs! Look, I care about the people. Let’s open things back up.

Amtrak Joe from Scranton, PA, on the other hand, spoke to the existence of a K-shaped recovery in which millionaires and billionaires have made hundreds of billions since the start of the COVID crisis and small-town, working-class Americans have felt the pinch. Also, that guy only paid $750 in taxes. The nerve!

Trump, taken aback by such an accusation, insisted he paid millions of dollars in taxes in the first two years of his presidency. Biden responded by asking, well, can we see your tax returns? And Trump was all, like, welllllllll, these are very complicated returns. And then Wallace chimed in to the effect of come on, dude, tell us how much you paid in taxes in 2016 and 2017. And Trump was all, like, I just told you: millions. Besides, don’t blame me for the tax code. Blame Senator/VP Biden over there, he’s the worst.

Biden said, no, you’re the worst.

Chris Wallace then smacked his head repeatedly on the table, whereupon he blacked out briefly before regaining consciousness and continuing to moderate the debate.

More on taxes, because nothing gets Americans fired up like talk about the tax code

Wallace moved to asking Biden whether his proposed tax increases for high earners would hurt the economy. And Biden, seemingly waiting for the chance, started unveiling his economic plan. Whereupon Mr. Wallace sprayed Biden in the face with water, shouting, “Taxes, Mr. Vice President! Taxes!” Biden, newly reoriented, vowed to raise the corporate tax rate. Trump countered by professing that when he lowered taxes, the economy boomed. BOOMED!

That was when Wallace smugly drew from a freshly-lit cigarette, paused for a moment, smiled, turned to Trump, and said, “Actually, Mr. President—Obama’s economy was better.” And Trump was all, like, the f**k did you just say to me? And Biden, with a twinkle in his eye, was all, like, you heard the man! And Trump was all, like, let’s talk about Hunter and Burisma. And Biden was all, like, you’re full of beans! And then the moderator blew an air horn, signaling the end of the segment, while Biden got his brass knuckles ready, silently and unobtrusively.

The segment in which a bunch of old white guys talk about race

“Why should voters trust you, rather than your opponent, to deal with the race issues facing this country over the next four years?”

Such was the question posed to Donald Trump and Joe Biden. Biden, answering first, spoke vaguely of equity, equality, and decency. (If you had “decency” on your presidential debate Bingo card, you can mark that space off now.) He, unlike his opponent, did not try to “both sides” the events at Charlottesville. He did not authorize the use of tear gas against peaceful protestors so he could have a photo op.

Trump responded by—look, I could tell you what he said, but it’s a bunch of nonsense. He’s supported by law enforcement (not helping your cause, bub). Biden’s a tool of the “radical left.” (Does anyone have a Bingo yet?) The people want law and order. Sleepy Joe’s afraid. Are you going to cry, Joe? Huh? Are you going to cry? Waaaaah!

Wallace then steered the discussion to the Breonna Taylor case and none of the officers involved being charged with homicide, asking Biden if there is a separate and unequal system of justice for blacks in America. And Biden was all, like, duh! Biden, to be clear, called for accountability for police who have done wrong but prefaced this by saying that there are “some bad apples” among the bunch. He conveniently ignores the idea that, as the saying goes, a few bad apples spoil the bunch, but we wouldn’t want to upset the men and women in blue, would we?

Trump fired back all, like, so you’re cool with looting and rioting and burning things down? And Wallace was all, not so fast, bruh. You directed federal agencies to end racial sensitivity training. To which Trump replied, “Because bruh, that shit is racist!” And Wallace was all, like, WTF, mate? And Biden, unprompted, tearfully recalled the prejudice he felt as a young Irish Catholic boy in Scranton. Tired. Poor. Yearning to breathe free. Biden then lifted his lamp beside the golden door. America.

And then—sigh—this went on for another eight minutes. I’ll give you some quick notes. Wallace asked about the increase in homicides this summer, which Trump again tried to blame on Democratic leaders, except that it has happened in Republican-led jurisdictions too. Wallace asked about “reimaging policing” and Black Lives Matter, and Biden started talking about community policing, but that got sublimated into arguments about who was or wasn’t calling for defunding the police and who would or wouldn’t hold violent offenders accountable. Oh, and fun times, Trump refused to explicitly condemn the Proud Boys, a white supremacist group. Cool, cool.

Oh, wowthey’re actually talking about climate change

Yes—this happened! Wallace, recounting Trump’s greatest hits, so to speak, on the subject of the environment (arguing against the influence of climate change on the wildfires in the West, pulling out of the Paris Agreement, rolling back Obama-era environmental regulations), asked the president what he believes on this subject matter. Trump answered with his usual word vomit, blaming California for not managing its forests better and not really addressing the issue at hand.

Wallace, it should be noted, pressed Trump on why, if he truly believes in the science on climate change, he would roll back standards published during Barack Obama’s tenure. Trump, saying the thinking part out loud, justified his actions with the lower upfront price tag associated with certain types of energy. Because who needs a planet to enjoy those savings, amirite?

Biden, when confronted with Trump’s insistence that ending the use of fossil fuels and reaching zero net emission of greenhouse gases would tank the economy, rejected his rival’s position, emphasizing how a commitment to renewable energy would create jobs, not cost them. It would also save money currently spent on disaster relief by mitigating the damage done by the effects of climate change. Alas, when Trump tried to pin the spooky, scary socialist Green New Deal on Biden, Biden flatly rejected any allegiance to that framework. But hey, this line of questioning was more than I could’ve hoped for from this debate before it began.

Trump doesn’t know the meaning of the phrase “election integrity”

“How will you reassure the American people that the next President will be the legitimate winner of this election?”

Oh, boy—that’s a doozy. Biden was up first and basically rambled his way to an exhortation of the public to vote. As for Trump, well, he—sigh. He said, in his rambling way, that there is going to be “a fraud like you’ve never seen” and that the election is “rigged.” You know, presumably, unless he wins.

After a brief interlude in which Biden waxed philosophical on potential involvement by the courts, expressing his concern that any court would be invoked at all, especially a Supreme Court with the likes of Amy Coney Barrett on it, Wallace dropped the question on the minds of many: “Will you pledge tonight that you will not declare victory until the election has been independently certified?” Trump did not. Biden did.


I referred to this debate earlier as a debacle. Other critics were even less charitable. Dana Bash of CNN notably referred to it as a “shit show”—on live TV, no less. Her colleague Jake Tapper called it “a hot mess inside a dumpster fire inside a train wreck.” Man, these CNN personalities are so dang colorful with their metaphors!

As one might imagine, some critical responses would seem to carry more weight than others. Professional lunkhead Sean Hannity seemed to relish a format that was more pugilistic than political. Journalist/author Jill Filipovic, meanwhile, grew nostalgic for the days when Hillary Clinton was the Democratic nominee, wishing she could’ve been the one to tell Donald Trump to shut up. #feminism

Regardless of who won—if you ask me, it was Biden in a landslide, carrying the day by not self-destructing—the whole affair was an ugly one. At one point, Chris Wallace had to reproach the Republican Party nominee for not adhering to the rules established for the debate. At another point, Trump went after Hunter Biden for personal issues he faced while Biden mourned the loss of his other son, Beau. If that’s not ghoulish behavior, I don’t know what is.

In all, the first presidential debate was widely panned, including its moderator’s performance. In deference to Mr. Wallace, however, I don’t know how much he could’ve done anyway. He didn’t have a gavel to bang or the ability to mute Trump’s microphone when he violated the rules. The man’s a reporter, not a miracle worker.

At the end of the day, President Trump’s health is still the biggest story of the past week and change. The disastrous parade of interruptions and digressions that was this debate, however, shouldn’t get buried, for it was an insult to the American people. We, the American people, deserve better, and sick or not, Trump deserves the lion’s share of blame for how it turned out.

Don’t Worry—The Republican Tax Plan Is Going to Suck

House-Republicans-long-awaited-tax-reform-bill-expected-this-week
Oh, great: a bunch of rich assholes in suits are going to decide what to do with our taxes. (Photo Credit: Mike Thieler/UPI)

Death and taxes. As the saying goes, they’re the two inescapable facts of life on this Earth. And maybe glitter, too. I’ve heard it said glitter is the herpes of the arts and crafts world, and having been the victim of glitter’s stickiness in the past, I appreciate the analogy. There’s so much you could say about death and its inevitability, more than could fit in one post and not exactly the kind of topic I’d cover in a blog about current events and politics anyway. There’s less you could say about glitter. It’s shiny—yay? Taxation in the United States, meanwhile, is an issue off which we can reasonably bite and chew. Taxes, be they local, state, or federal, are almost always relevant in some way to our daily lives, but currently exceedingly so in light of a recent resolution narrowly passed by the House of Representatives that paves the way for a Republican-led Congress to try to jam a tax reform bill through the legislature. After the GOP’s failure to get an ill-crafted replacement of the Affordable Care Act through both the House and Senate, the pressure is on Mitch McConnell, Paul Ryan, and the rest of the party’s leaders to devise something that will find success and uphold a pledge of both theirs and President Donald Trump’s to lower taxes.

Back at the end of September, Trump and the “Big Six”—House Ways and Means chair Kevin Brady, National Economic Council director Gary Cohn, Senate Finance chair Orrin Hatch, Mitch McConnell, Treasury Secretary Steve Mnuchin, and Paul Ryan—unveiled a rough cut of what a Republican tax reform bill would look like. David Floyd, writing about the “Trump tax reform plan” under the Investopedia.com banner, offers a fairly good primer on what the forthcoming bill might look like. Among the salient points of agreement among the Big Six and made evident to reporting media:

For personal taxes

  • Three brackets: In what may seem as somewhat of a welcome change given the U.S. tax code is often derided as too complex and ridden with loopholes, a GOP tax bill is expected to reduce the number of tax brackets applicable to personal filers from seven brackets to just three: 12%, 25%, and 35%. Perhaps the most notable change herein would be the reduction of the top bracket from 39.6%, because, as with charges levied against the Republican plan for “repeal and replace,” the intimation is that the primary intent of this legislation is to give the wealthiest Americans a tax cut. Well, this aspect sure doesn’t help.
  • Higher standard deductions: From the looks of things, much higher. For current 2017 tax law, the standard deduction for single filers is $6,350, and $12,700 for married filing jointly. Under the proposed reform, the Single standard deduction would rise to $12,000 and the MFJ deduction would shoot up to $24,000. As for the Head of Household deduction, um, what Head of Household deduction? Seriously, though, the GOP tax plan doesn’t mention anything about it, which could presage an elimination of this option. Sorry, single parents—this is Trump’s family-oriented America now.
  • No additional standard deduction: A forthcoming reform bill is likely to eliminate the additional standard deduction (currently at $1,550) for single filers who are either 65+ years of age or blind. Sorry, old and blind people—this is Trump’s America now. The disabled and elderly don’t get priority.
  • No personal exemption: That apparent good news about your standard deduction? It stands to be tempered by the likelihood that the personal exemption will evaporate. That’s $4,050 which would suddenly become unavailable. Harsh, bruh.
  • Elimination of itemized deductions: Not all itemized deductions, but a number of them, particularly that applicable to deducting state and local taxes. Which would disproportionately affect filers in “blue” states, but that’s just a coincidence, right? Already, the dramatic increase for the standard deduction would be anticipated to reduce the number of couples/individuals making use of itemized deductions, which would only be useful if these individual deductions surpass the given standard deduction. Eliminating the so-called SALT deduction would, in all probability, further increase that trend.
  • Increasing the child tax credit: Increasing the child tax credit—what’s bad about that? Well, not much, from what I can tell, but this is probably a concession designed to make the legislation more palatable from a political standpoint. This is to say that the main reason this bill is being proposed by Republican leadership is most likely not related to concern for the average parent and his or her child/children.
  • Cutting the AMT and estate tax: Yeah, this is straight-up, good-for-the-wealthy-type shit right here, especially concerning the latter, which affects less than 1% of American estates and only those worth more than $5.5 million. The Trump Family, in particular, would benefit handsomely from a repeal of the estate tax. Yup, no conflicts of interest here—move it along, people. Nothing to see here.

For business taxes

  • Cutting the top corporate tax rate to 20%: Corporations, so onerously plagued by taxes that a number of them find ways to pay little to nothing in this regard, will apparently have this burden further reduced by the Trump/Big Six tax plan. Here’s the thing about this tax cut: the cost. Taxes collected are tax revenues, and with a drop in the highest corporate tax rate from 35% to 20%, the estimated cost to the United States is some $2 trillion over a decade. Trillion. With a T. It’s doubtful the brain trust behind the forthcoming bill will be able to find a plug that large to fill the void.
  • Establishing a top “pass-through” rate of 25%. With pass-through entities, such as sole proprietorships, partnerships, and S-corporations, owners pay based on personal tax rates. As with the intended shift on the top corporate tax rate, the reduction in the top rate for pass-through entities would be substantial, down from the aforementioned 39.6% highest bracket threshold. Under the guise of this bill, this reduction is meant to give a break to America’s small businesses. Not only would a majority of small business owners not benefit anyway under the proposed plan, making this—surprise!—a boon predominantly for wealthier business owners, but defining what organizations/what type of work qualifies for classification in this way was already cumbersome. Meaning the IRS, already besieged by cuts over the past few years, will likely have that much more trouble sifting through returns if this bill comes to pass. It’s OK, though—your refund will get to you eventually. We hope.
  • Establishing a “territorial system” for foreign-based revenues: This applies to multinational corporations, and would allow these businesses to be subject to taxation based on where the money was made, rather than be subject to U.S. taxation, including a 35% tax on overseas profits for American corporations when they bring them back home. This might actually be a good element of the reform, as a large consensus seems to favor this treatment for multinationals, arguing that it will improve the American corporate tax system and could potentially make U.S. firms more competitive with their foreign counterparts. As they say, though, the Devil is in the details, and thus far, the details have been decidedly murky. What would a minimum foreign tax to discourage revenue shifting look like, exactly? For a supposed low, one-time tax rate to bring existing foreign revenues ashore, what is the proposed rate? If multinational corporations don’t want to shift them to the United States, do they even have to pay the tax at all? I’m asking you, the reader, because I’m not sure the Republican brass in charge of crafting this legislation have really thought through all the implications.

I say the details have been murky on the territorial system, but as with the various awful iterations of the GOP health care bill that did not get passed, there is a lot that is unclear about this tax plan concocted by the Trump administration and Co. What income ranges will get assigned to which of the three proposed tax brackets? Will the deduction from 39.6% to 35% actually survive the drafting process given obvious tax breaks for the wealthiest Americans are unpopular with most of the population? What itemized deductions actually stand to be preserved by the Republican tax reform bill? How will abuses of the reduced top pass-through rate be curbed? And how exactly are we going to pay for these tax cuts? How exactly are we going to pay for these tax cuts? No, really—how the f**k are we going to pay for these tax cuts? I’m asking this three times because it’s important, and because a shortfall in tax revenue is to be expected relative to current rates, will this mean cuts in other areas to offset these losses? Also like with the health care bill voting process, it is doubtful that GOP lawmakers will have the time and wherewithal to read and comprehend what they’re potentially voting on—or much less be asked to. Keeping in mind the Republican Party’s penchant for legislative chicanery and desire for a victory regardless of the eventual fallout, anything less than full speed ahead is considered a liability for those who bleed Republican red. By this token, Trump and the Big Six probably hope their Republican Party underlings are as in the dark about this bill as we are.

As much as we don’t know about the fine details, however, and as accelerated a timeline under which the Republicans in Congress will aim to operate to keep as many people as unaware as possible, the broad strokes are enough to tell that the forthcoming tax reform legislation, like the deficient health care bills that preceded it, is something about which calling and writing one’s elected representatives merits the effort. Because this is legislation which is primarily designed to benefit wealthy business owners and other wealthy individuals—let’s not sugarcoat the matter. But don’t just take my word for it. John Komlos, professor emeritus of economics and economic history at the University of Munich, states outright that the GOP tax cuts would make the rich even richer. In an opinion piece appearing in PBS’s economic segment, “Making Sen$e,” Komlos argues that any theoretical gains to be enjoyed by members of the middle class from these revisions and cuts are easily outpaced by the windfalls to be realized by the most well-to-do. The professor explains:

Take a median household of two earners with an income of $59,000. The best estimate is that their after-tax income will increase by 1.2% or by $704. To be sure, that is nothing to scoff at. It is twice as much as their income gains during the previous 17 years but it is hardly enough to be a game changer for them. Their likelihood of affording college for their kids will not increase, for example. Their consumption will be not increase the economy’s aggregate demand appreciably either.

In contrast, the super-rich will become amazingly even richer. If the GOP had its way, the top tax rate would decline from 39.6 percent to 35 percent for a married couple earning more than $470,000. Take a typical CEO of a major corporation who earns, say $20 million. With a typical effective tax bill of 25.6 percent for someone in that position, their take home pay currently would be around $14.8 million. Under the new plan, the tax bill would decline by 4.6 percent, or roughly $900,000. However, according to the nonpartisan Tax Policy Center, the gain would be even more — roughly $1.2 million.

Either way, in this scenario the windfall would leave the CEO with disposable income of around $16 million. This would certainly be enough to buy some political influence. So, the tax cuts feed a vicious circle that lead from the windfall to political power and the ability to influence the public’s worldview and thereby gain further profits and additional power both political and economic.

Prof. Komlos sees the Trump tax plan as another version of Reaganomics and to be rightly derided as “voodoo economics.” As it has been a linchpin of conservative economic theory for some time, the central mechanism here is trickle-down theory, and experience has shown it doesn’t quite work as specified. From the Reagan tax cuts, we got a “$2 trillion increase in the government deficit and the hollowing out of the middle class,” earning us respectable but only incremental growth. The majority of growth experienced under George W. Bush prior to the Great Recession benefited the top 1%, and the deficit ballooned yet again. All this is an erosion of the middle class and its power, while income and wealth inequality widen, with the growing chasm threatening to swallow the bottom 99% whole. As for the idea the drop in corporate tax rates will stimulate growth, Komlos argues that what is limiting additional investments by American businesses is not burdensome taxation, but lack of demand for the product. No amount of lining the pockets of the wealthy can magically spur demand from the public.

John Komlos’s closing remarks strike an ominous tone, even if they leave the door open for something better:

At its core, the tax plan was made by the 1 percent for the 1 percent. Apparently greed has no limits. Make no mistake about it: this is nothing less than class warfare. And as Warren Buffett, the second richest man in America, so astutely recognized, “my class has won.” We were fooled by Reaganomics. We were fooled by George W. Bush tax cuts. Will the 1 percent fool us again? Or will Abraham Lincoln be proved was right, when he said that you can’t fool all of the people all of the time.

The hope, of course, is that the American people will realize how lopsided this bill is and will demand something fairer, not just in terms of the alignment of specific income brackets with specific percentages, but in terms of the distribution of wealth and power across the American economic spectrum. The major reservation, however, is that some distraction like terrorism or Hillary Clinton or the difficulties of daily life will come along to make too many of us ready to forfeit our bargaining power. History has repeated itself with the Republican presidents leading up to Barack Obama. It can easily repeat itself after the fact, change and hope aside.


Speaking of distractions, as is so often the case with Donald Trump, he and his Republican cronies have utilized their brand of misdirection to try to minimize public attention to how terrible their tax plan will be. At about the same time we were hearing that the resolution narrowly passed which would allow Republicans to fast-track tax reform legislation through Congress, our attention was diverted to concerns about the release of the JFK assassination files, of all things, as well as Trump’s blathering about Hillary Clinton and sales of uranium to Russia. These may very well be worth the scrutiny, mind you, but the timing of their release/publicizing functions to obscure the fact that wealthy people masquerading as authentic representatives of the American people are intent on catering to their wealthiest benefactors first, leaving the scraps for the rest of us. The intersection of Trump administration proceedings, Republican legislative machinations, and the rantings and ravings of a spoiled brat who was elected to be—but does not act like—the President creates a shell game by which all options are vaguely appealing, but the contents of one have the unique power to do quantifiable damage to our country and the balance of power within it. In this case, it’s the GOP-led Congress’s shell that covers their mad dash of an attempt to give the wealthiest Americans an unnecessary tax break, and to get a bill passed before we’re singing “Auld Lang Syne” to ring in 2018. This means that, following any elections individual states, counties, and municipalities may have this November, the timeline for voicing opposition to any proposed legislation will be slim.

Thus, even while indictments are being issued by Robert Mueller in the investigation into Donald Trump and his potential ties to Russia, the details of this whole Republican tax shebang will be critical to pursue in the coming days, weeks, and months. Particularly so we can find out what the hell, if anything, is being done to our 401(k) plans and their associated limits. The Republican tax plan is going to suck. It’s up to us to find out just how bad it will suck and which representatives/senators to contact and pressure in the hopes it won’t be passed.