Something both parties figured out when Reagan set the precedent: no one
really give a shit about the deficit or the debt, nor will they until it (a) becomes an excuse to bitch about something the other party did; or (b) they actually feel a negative consequence from debt/deficit to GDP being too high. Eventually we will have an inflation problem and the value of our currency will diminish, but I doubt anyone will serious sweat "fiscal responsibility" until the day that happens. That is just being honest.
My beef the tax "reform" is more that it's wrongheaded policy in just about every way and a major missed opportunity. This is really little more than the GOP cashing out their sponsors and claiming a win; it will not do the economy much if any good and literally does nothing to address our actual problems (of which stock market growth and capital availability to the wealthy and businesses are NOT issues). It's obnoxious and stupid and will further income inequality.
My main immediate "fear" if there is one is that this will re-slump the housing market, where most Americans have their biggest assets. I still for the life of me can't understand why the fuck the GOP would want that, but apparently they do (and yes, it will negatively affect demand for homes under $750K too since everyone will be less likely to itemize under this "reform" bill.
Really just don't understand why any "reform" was needed on the personal income side, other than as a favor. They could have just reformed the corporate code and actually had a halfway decent policy argument behind it.
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In response to this post by Late 80s Hokie)
Posted: 12/20/2017 at 11:17AM