Somethings are reasonably understood. Shock systems and they behave in unpredictable ways. Politicians, democratic political leaders and not so democratic leaders use the chaos they create to take even more unreasonable steps.
The deals that Senator McConnell had to accept to get a bill may moderate or lessen the shock but the impact on individuals and families is going to be very disruptive, remove any certainty about the future and severely restrict "personal consumption".
The latter will cause businesses to hesitate to expand -- that promised job growth will never happen. Trickle down does not really work, businesses do not pass on "profits" to employees -- the very idea of competition makes businesses "hoarders" of cash unless they see spending as a way to achieve competitive advantage. The cash will not be transferred to wages.
Returning for a moment to "personal consumption" -- just what is it? A few possible components:
- Disposable income
- Discretionary income
- Non-Discretionary income
- Gross Income
- Net Income
- Adjusted gross income
- Standard deduction
- Itemized deductions
- FICA tax
- Tax Credit
If you were given a multiple choice test ... how many can you define or at least offer an explanation.
GOP politics has been dominated by a philosophy of "disruption" to achieve their ideology still more rooted in "Ayn Rand" than anything else.
Rand advocated reason as the only means of acquiring knowledge and rejected faith and religion. She supported rational and ethical egoism and rejected altruism.
More later ... in the meantime ...
The 7 Myths of the GOP Tax Bill - The Atlantic Monthly 12/1/2017
It will supercharge growth, help the middle class, and boost workers’ pay. Or will it?
1. The tax bill will pay for itself.
2. It will supercharge growth.
3. Cutting the corporate tax rate will lead businesses to give raises to regular workers.
4. Corporations will invest more.5. The rich are not going to benefit from the bill.
5, cont. Trump himself would not benefit.
6. The plan is designed for the middle class.
7. It will help small businesses.
Naomi Klein - Shock Doctrine
In THE SHOCK DOCTRINE, Naomi Klein explodes the myth that the global free market triumphed democratically. Exposing the thinking, the money trail and the puppet strings behind the world-changing crises and wars of the last four decades, The Shock Doctrine is the gripping story of how America’s “free market” policies have come to dominate the world-- through the exploitation of disaster-shocked people and countries.
More likely a pretext for cutting Social Security, Medicare and Medicaid in the near future. More restriction of "personal consumption".
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