"The tax bill the GOP is trying to foist on the country is not only an unfair and deficit-bloating hodgepodge written on the fly. It is also deeply corrupt. Every Republican who votes for this bill will be joining a festival of venality."
This legislation proves that Washington is, indeed, the “swamp” that President Trump described during the campaign. But instead of draining it, he and his partisan allies have jumped right in. Actually, they have polluted it further."
"President Trump’s corporate tax cuts will likely generate enormous deficits, even if the administration’s rosiest economic forecasts come true, setting Republicans up to claim that the time has come to cut Social Security, Medicare, and welfare to reduce the expected $1 trillion deficit, created by those very tax cuts, over the next 10 years."
Speaker of the House Paul Ryan has already announced that the GOP plans to cut federal health care and anti-poverty programs because of a deficit that his party is about to balloon. “We’re going to have to get back next year at entitlement reform,” he said on a talk-radio show, “which is how you tackle the debt and the deficit.”
The Republican theory is that once people see the "plink" added to their paychecks they will forget all about the mega deficits. They will also forget that the middle class portion of the tax bill gets clawed back in five years, while the corporate tax cuts continue forever. Meaning it's a massive bait and switch.
The rest of the world isn't impressed by corruption-oriented tax cuts. Which is why the shock will come overnight...
Big cap tech is trading like a brick again ahead of tonight's final Senate vote:
This will be third wave down for momentum:
