The Columbus Dispatch

Republican­s to start their bait and switch with tax cuts

- PAUL KRUGMAN Paul Krugman writes for The New York Times. oped@ nytimes.com @ PaulKrugma­n

Republican­s don’t care about budget deficits, and never did. They only pretend to care about deficits when one of two things is true: a Democrat is in the White House, and deficit rhetoric can be used to block his agenda, or they see an opportunit­y to slash social programs that help needy Americans, and can invoke deficits as an excuse.

So it’s not at all surprising that they were willing to enact a huge tax cut for corporatio­ns and the wealthy even though all independen­t estimates said this would add more than $1 trillion to the national debt. And it was also predictabl­e that they would return to deficit posturing as soon as the deed was done, citing the red ink they themselves produced as a reason to cut social spending.

Yet even the most cynical among us are startled both by how quickly the bait-and-switch is proceeding.

During the Senate debate over the Tax Cuts and Jobs Act, Sen. Orrin Hatch, R-Utah, was challenged over support for the Children’s Health Insurance Program, which covers 9 million U. S. children — but whose funding lapsed two months ago, and has not been renewed. Hatch declared his support for the program, but insisted that ‘‘the reason CHIP’s having trouble is because we don’t have money anymore’’ — just before voting for a trillion-and-a-half-dollar tax cut that will deliver the bulk of its benefits to the richest few percent of the population.

He then went on to say, ‘‘I have a rough time wanting to spend billions and billions and trillions of dollars to help people who won’t help themselves, won’t lift a finger and expect the federal government to do everything.’’

So who, exactly, was he talking about, and which programs are consuming these billions and billions and trillions?

Was he talking about food stamps, most of whose beneficiar­ies are children, elderly or disabled? (And many of the rest are working hard, just not earning enough to get by.)

Was he talking about the earned-income tax credit, which rewards only those who work?

Was he talking about Medicaid, which again mainly benefits children, the elderly and the disabled, plus people who work hard but whose jobs don’t provide health benefits?

Now, to be fair, there are some people in America who get lots of money they didn’t lift a finger to earn — namely, inheritors of large estates. Strange to say, however, Republican legislatio­n would give these people much more — indeed, billions and billions of dollars — without requiring any additional effort on their part.

The House version of the big tax cut would eliminate the estate tax; the Senate version would double the level of wealth exempted from the tax, to $22.4 million for a couple. How can this be justified if it’s supposedly hard to find money for children’s health care?

It has been widely noted that the tax bills enacted by the House and Senate are remarkably unfriendly to the middle class — in fact, the Senate bill, once fully phased in, would actually raise taxes on a majority of middle-class families. But that observatio­n captures only a small part of what is about to happen to ordinary, hardworkin­g Americans.

For budget deficits are going to soar thanks to Republican legislatio­n. And offsetting those deficits will require going after the true big-ticket programs, namely Medicare and Social Security.

Oh, they’ll find euphemisms to describe what they’re doing, talking solemnly about the need for ‘‘entitlemen­t reform’’ as an act of fiscal responsibi­lity. But whatever words they use to cloak the reality of the situation, Republican­s have given their donors what they wanted — and now they’re coming for your benefits.

 ??  ??

Newspapers in English

Newspapers from United States