Republican Party Economic Policy Explained – Tax Cuts

Grover Norquist income inequality championThe Republican party has largely one policy when it comes to the economy – tax cuts.

Here’s how the tax cuts work

1. Cut taxes for the wealthiest citizens promising that the tax cuts will pay for themselves because of a boost the economy will get because rich people pay less taxes.

2. Eventually the economy boost never materializes. What happened instead is there’s a huge gaping hole in our budget. To fix that, Social Security, Medicare and Medicaid will need drastic cuts.

3. Repeat step 1.

Since 1980, this has been the Republican strategy. It’s a great plan, because all you have to do is convince people that taxes suck and they should be lower. Most people agree with the idea of paying less taxes. They may not agree with it if it means their parents won’t be able to retire and live independently. With the cuts to Social Security and Medicare, they’re going to have to live in your basement.

But hey, those rich bastards needed that money more than you did.

Sometimes they call it trickle down economics. The “theory” is if we cut taxes on the wealthiest among us, they will be so happy that they’ll hire us to do a bunch of shit. It never works. All that happens is that the rich get richer and the rest of us get poorer.

The above photo is of Grover Norquist. Norquist is the founder and president of tax advocacy group – Americans for Tax Reform. Norquist’s goal is to lower taxes to strangle the federal government of its revenue until it dies.

In 2001, in an NPR interview, Norquist said, “I don’t want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub.”

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