Remember the Republicans’ claim last year that their $1.5 trillion tax scam, slashing rates for the rich and corporations would magically pay for itself?
Here is how that works: a rich guy walks into a Mercedes-Benz dealership, gets behind the wheel of a $112,400 GP Coupe, and drives away yelling to the salesman, “Don’t worry. It’ll pay for itself.”
It’s nothing but a fraud. Well, that’s what the nonpartisan Congressional Budget Office (CBO) said this week, anyway.
Without blatantly labeling the GOP tax cut as a con, the CBO did say that it would in no way, not ever pay for itself. It would, the CBO warned, dramatically raise the national budget deficit, year after year, for at least a decade.
Republicans, the party of public hand wringing over deficits, deliberately created this gob-smackingly huge one. Privately, Republicans are the party of glee over deficits.Continue Reading...