“The Wrong Way” To Do Tax Reform
Republicans’ tax framework would be a “fiscal disaster,” and we aren’t the only ones who think so. The Washington Post Editorial Board had some harsh criticism for Congressional Republicans who claim to be “fiscally responsible” or “deficit hawks” as they pursue their plan that would provide tax cuts for the wealthy at the expense of the middle class and the deficit. Key excerpts:
“REPUBLICANS WANT to pass the biggest rewrite of the federal tax code since 1986. They could do so the right way, taking care to simplify the code without harming the country’s already stretched finances. Or they could hypocritically balloon the debt to pay for tax cuts, nullifying the benefits of the rewrite by plunging the country into dangerous fiscal territory.”
“A plan before the Senate, possibly to be voted on this week, would do tax reform the wrong way. Any Republican who ever breathed a word of concern about the debt when Democrats were in charge has no excuse to support this plan. They should reject the budget outline.”
“It is not too late for the Senate to avoid fiscal disaster. Senators still have the option of following through on years of rhetoric promising budgetary responsibility. They should reject the reckless budget outline they have before them.”
“A plan before the Senate, possibly to be voted on this week, would do tax reform the wrong way. Any Republican who ever breathed a word of concern about the debt when Democrats were in charge has no excuse to support this plan. They should reject the budget outline.”
“It is not too late for the Senate to avoid fiscal disaster. Senators still have the option of following through on years of rhetoric promising budgetary responsibility. They should reject the reckless budget outline they have before them.”