Skip to comments.Economy Continues to Be Battered by Tax Cut Law [semi-satire]
Posted on 04/16/2018 11:03:37 AM PDT by John Semmens
News that US corporations expect the recently completed first quarter of 2018 to be the best ever has reignited Democrat promises to repeal the tax cut enacted late last year.
Vermont Socialist Sen. Bernie Sanders called the news supremely depressing. To think that a democratically elected legislature could take such a heartless action to endorse the heightened expropriation of the surplus value of labor that Marx demonstrated is owed to the working class is shameful. It is essential that voters elect a socialist majority this Fall so Congress can repeal this abomination.
House Minority Leader Nancy Pelosi (D-Calif) pledged to stand shoulder-to-shoulder with my good friend Bernie in the fight for social justice. Its bad enough that corporations are gorging on the money that rightfully belongs to the working class. Worse, the tax cut has pushed even more Americans into the workforce against their will. The Department of Labor has just reported that the number of people receiving unemployment benefits is at a 44-year low. In November, voters will have a stark and clear cut choice between the Republican scheme to put everyone into wage slavery for the profit of big business or the Democratic promise of freedom from toil. Its as simple as that.
Well, maybe it isnt as simple as Pelosi imagines. The Congressional Budget Office just released an updated budget forecast admitting that previous analyses had underestimated the positive impact of the tax cuts on economic growth and prosperity. At this juncture it looks like the tax cuts may well pay for themselves with the extra income coming from expanded economic activity throughout the economy. This means that taxpayers may enjoy more money in their pockets without the government suffering from a larger deficit.
In related news, Jesse Jackson denounced Krogers closing of unprofitable stores in minority neighborhoods as rascist. We must no longer tolerate businesses using the excuse that insufficient sales justifies shutting down operations. Its past time that we move beyond the capitalistic notion that profit is necessary if a business is to survive. If stores in certain neighborhoods have too few customers the appropriate response is for the government to step in and either subsidize those stores or take them over and run them for people, not profit.
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