Republican tax plan

Federal debt projected to reach 28 Trillion by 2029

I've never been much of a deficit hawk, but this is crazy:

According to the Congressional Budget Office, the federal government — aka U.S. taxpayers — will spend $455 billion on interest next year. By 2029, that figure is projected to rise to $921 billion.

Beginning next year, he said, the federal government will spend more on interest than it will on programs affecting children. By 2025, he said, taxpayers will pay more on interest than they do on national defense. “Our budget will be spending more on our past than we do on our future,” Peterson said. “That’s a stark reminder of what we’re leaving our children here.”

Reaganomics was bad enough, when excessive tax cuts for the wealthy ended up with Social Security recipients paying fricking tax on their own retirement money. But Trumpism has broke the mold, and we will look back on the $1.5 Trillion tax giveaway as the epitome of ignorance by the time 2030 hits. And before you say, "they always do it," take a look at the late 1990's:

Trump's assault on the safety net will hit Medicaid first

medicaidman.jpg

And the suffering will be beautiful and shiny:

During last year’s fight against efforts in Washington to repeal the Affordable Care Act, poll after poll showed most Americans opposed Medicaid cuts that would turn back the clock on decades of civil rights progress for people with disabilities.

But in 2018 we face a new looming threat: Medicaid work requirements, recently permitted by the Trump administration in three states: Kentucky, Indiana and — just this week — Arkansas. Work requirements like these could cause serious harm to hundreds of thousands of people with disabilities or serious illnesses, costing many of them their Medicaid coverage.

This is (just one more) reason why taking back the Legislature is so crucial. Trump and his GOP enablers (or is it the other way around?) are determined to cleanse the Federal government of entitlement programs, and they've discovered the best way to do that without suffering at the voting booth is to shift that burden down to the states, 2/3 of which are now controlled by the GOP. And the really disgusting part is, Republicans already know people who really need and deserve this coverage will lose it, but they don't care:

The truth about the NC GOP tax increase

The right-wing nut jobs from the Jones Street House of Pain, along with DAG McClowny, have been on an all-out propaganda push to try to convince North Carolinians that they're getting a tax cut, just because the nominal income tax rate will decline and they'll see an extra buck or two in their paychecks.

Of course, their propaganda is disingenuous a pack of outright lies. They know that nearly all of the tax cuts go to the wealthiest people and that, with the elimination of many deductions and the earned income tax credit, coupled with the new 7.5% sales tax on many goods and services, the overall tax bill for most people will go up.

And as usual, it's nicely summarized by the good folks at NC Policy Watch.

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