MSN -After instituting a $1.5 trillion tax cut and signing off on a $675 billion budget for the Department of Defense, Senate Majority Leader Mitch McConnell said Tuesday that the only way to lower the record-high federal deficit would be to cut entitlement programs like Medicare, Medicaid and Social Security.
The deficit has increased 77 percent since McConnell became majority leader in 2015.
New Treasury Department analysis revealed that corporate tax cuts had a significant impact on the deficit this year. Federal revenue rose by 0.04 percent in 2018, a nearly 100 percent decrease last year’s 1.5 percent. In year 2018, tax receipts on corporate income fell to $205 billion from $297 billion in 2017.
2 comments:
Both political parties are responsible for this.The Republicans more so than the Democrats - but both have had a hand in this.
I wouldn't have a problem with it, if they were just honest about what they are doing. McConnell and his ilk should say, "okay, we have given trillions to the military and to the rich. Now, in order to pay for that we will have to cut social security and medicare."
If they were just honest about it we - as a nation - could have a legitimate discussion about priorities.
The problem does not lie in the actions that political system is taking. The problem lies in the fact that honestly has been completely removed from political discourse. For instance, the Department of Defense is actually a Department of War. The War on Terror is actually a War for Resources and a War for Geo-political advantage. And so-called Entitlement Reform is actually a Wealth Transfer to the Rich and a Consolidation of Class Advantage.
Until vast numbers of citizens start honest discourse about what it happening, this will only get worse.
USA is a sh_t hole country for everyone, except the wealthy, it’s ALWAYS been this way. Most Americans still believe it’s ever been different!
Post a Comment