According to legend, Robin Hood robbed the wealthy and distributed booty to the poor. Robin Hood in reverse (RHR) works differently. This method is favored by kleptocrats and oligarchs and seeks to enhance the holdings of the wealthiest at the expense of the most impoverished. Let’s talk about the tax bill now approaching the Senate. Read to the end where I unveil its poison pill.
Like the tax bill of 1917, this one also holds out the promise that money will trickle down to those who can use it more. And also like that bill, it puts more money in the hands of those who don’t really need it.
The big difference this time around is that the national debt has ballooned since 2017. This time lawmakers are looking at offsets. They’re considering cuts in programs for people who need them to pay for tax breaks for the wealthy.
For years Republicans have complained about taxes while the government spent. Somebody needs to pay to run the government but magical thinkers believe that tax cuts pay for themselves by invoking some vague and implausible principal. It never happens.
Meanwhile the government continues to borrow as the cost of doing so is becoming unwieldy. Moody’s recently downgraded the country’s credit worthiness. This hurts our nations’s reputation and increases our borrowing costs.
During Eisenhower’s days the highest marginal tax rate was 91 percent. It’s much less now. If the wealthy could tolerate high taxes back then, why can’t they help lower the deficit now? Our current lawmakers will never willingly ask the wealthy to pay their fair share.
The King
The tax bill contains a clause which reads: “No court of the United States may use appropriated funds to enforce a contempt citation for failure to comply with an injunction or temporary restraining order if no security was given when the injunction or order was issued.”
This is intended to prevent federal courts from from imposing consequences for contempt of court on top government officials. It would give Donald Trump king-like immunity for violating the Constitution. Though perhaps it's unreasonable to suggest that a twice impeached convicted felon would ever think about violating the Constitution.
If you don’t like how things are going contact your Congress person and Senator.
