{"id":45166,"date":"2023-01-22T08:13:47","date_gmt":"2023-01-22T08:13:47","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/the-republican-con-on-the-debt-ceiling\/"},"modified":"2023-01-22T08:13:47","modified_gmt":"2023-01-22T08:13:47","slug":"the-republican-con-on-the-debt-ceiling","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/the-republican-con-on-the-debt-ceiling\/","title":{"rendered":"The Republican con on the debt ceiling"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">For generations, Republicans in Washington have relentlessly driven up the national debt by shoveling tax breaks to the rich. The cumulative impact has been staggering. In the 1950s, corporations paid 6 percent of the cost of running our country; today, that number <a href=\"https:\/\/www.taxpolicycenter.org\/statistics\/corporate-income-tax-revenue-share-gdp-1934-2020\" target=\"_blank\" rel=\"noopener\">has fallen<\/a> to 1 percent.<b> <\/b>The 2017 Republican tax cuts were the latest blow \u2014 a $1.9 trillion giveaway to wealthy individuals and multinational corporations. And, as icing on the billionaire cake, decades of Republican attacks on the Internal Revenue Service have cut the risk of an audit in half for multimillionaires and corporate tax cheats.<\/span><\/p>\n<div class=\"newsletter | align_items_center border_bottom border_gray border_top border_1 container font_primary width_full margin_vertical_32 padding_vertical_24 standard is_article\">\n<div class=\"newsletter_cta | border_box width_full no_image\">\n<p><span class=\"title | bold font_secondary margin_bottom\">Get Today in Opinion<\/span><\/p>\n<p><span class=\"newsletter_widget_description\">Globe Opinion&#8217;s must-reads, delivered to you every Sunday-Friday. <\/span><\/p>\n<\/div>\n<\/div>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Republicans don\u2019t really care about the national debt. In fact, the first bill that House Republicans <a href=\"https:\/\/www.bostonglobe.com\/2023\/01\/20\/opinion\/gop-grandstanding-irs\/\" target=\"_blank\" rel=\"noopener\">advanced<\/a> would increase budget deficits in order to protect wealthy tax cheats. And new House rules say that additional tax cuts for billionaires and giant corporations don\u2019t need to be paid for.<b> <\/b>It seems that<b> <\/b>more debt is fine with Republicans in Congress, so long as it profits the wealthy and well-connected.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">But that\u2019s not enough. Republicans have committed to vote on a MAGA tax plan to slash total taxes for the wealthy and corporations, while hiking overall rates for everyone else. The <a href=\"https:\/\/www.forbes.com\/sites\/steveforbes\/2023\/01\/19\/republicans-are-giving-democrats-a-belated-but-huge-christmas-present\/?sh=362a682861a3\" target=\"_blank\" rel=\"noopener\">Republicans\u2019 30 percent national sales tax<\/a> will increase the cost of everything that families need, from food to diapers to gasoline \u2014 a hard punch in the gut for families already living on a budget.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Even after hiking taxes on millions of Americans, Republican schemes would not reduce the national debt. But that\u2019s no surprise. Republicans\u2019 one unifying principle is government help for their rich donors and economic pain for everyone else. In 2011, they got their way. After nearly a decade of reckless Bush tax cuts, they manufactured another debt ceiling crisis, which they then leveraged to push through a massive austerity program.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Those GOP budget cuts cost the US economy more than 7 million jobs, delayed our recovery from the Great Recession by years, and helped set the stage for Donald Trump\u2019s election in 2016. And just to drive the point home, Trump already blames Republicans\u2019 poor showing in the midterms on people not feeling \u201c<a href=\"https:\/\/www.vox.com\/policy-and-politics\/23436640\/donald-trump-announce-run-presidential-campaign-2024\" target=\"_blank\" rel=\"noopener\">the full gravity of the pain our nation is going through<\/a>\u201d \u2014 and expressing confidence that by 2024 it will be \u201cmuch worse.\u201d For Trump and MAGA Republicans, pain is the point.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">To help Trump win again, McCarthy has declared that he will run the same play again: He will refuse to increase the debt limit until Democrats agree to cruel cuts to programs like Social Security and Medicare.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Here\u2019s the ultimate irony of today\u2019s Republican scam: Without years of Republican handouts to the wealthy, there would be no debt ceiling hostage to take. If Republicans hadn\u2019t spent nearly $2 trillion on the Trump tax cuts and abetted wealthy tax cheats by starving the IRS for a decade, the United States wouldn\u2019t need to raise the debt ceiling this year. In fact, the current debt ceiling would have sustained federal spending well past the end of President Biden\u2019s first term. Any debt crisis today should be laid squarely at the feet of the Republicans who worked tirelessly to help the wealthiest Americans avoid paying taxes.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Serious conversations about reducing the national debt should start here: Repeal the 2017 Trump tax giveaways to the wealthy. Let\u2019s close that door before the next $1 trillion slips away.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Second, stitch up the last-minute loopholes punched in the 15 percent minimum tax on tax-dodging, billion-dollar corporations and give extra bite to taxes on corporate stock buybacks designed to goose up CEO pay. That\u2019s another $100 billion plus.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Third, shut down tax havens for big, multinational corporations. Europe is imposing a minimum 15 percent tax on global profits so companies can\u2019t hide profits overseas. The United States should join the other countries following suit, raising another $600 billion.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Fourth, ask billionaires to pay taxes on their growing piles of wealth. Biden\u2019s tax on billionaires is a good place to start and raises over $300 billion in revenue.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Finally, say no to the ridiculous and unpopular Republican schemes to increase our national debt. Don\u2019t gut the IRS or make Trump-era tax cuts permanent or cancel all taxes on the wealthy and corporations while loading up American families with a 30 percent sales tax on everything from milk to auto repairs.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Common sense changes in tax laws would strengthen our national balance sheet and, at the same time, reflect our values. They are also political no-brainers. The American people don\u2019t support plunging the economy into a manufactured crisis. They don\u2019t support cuts to vital programs so the wealthy can avoid paying their share. And they don\u2019t support enduring brutal austerity to advance Trump\u2019s and MAGA Republicans\u2019 political fortunes.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\">Democrats need to stiffen their spines and say enough is enough. Every lawmaker should flat out refuse to cut a single dollar of support for hardworking families and small businesses while billionaire corporations and the ultra-wealthy escape paying taxes. If Republicans actually care about the national debt, they can do what generations of politicians have refused to do \u2014 finally agree that billionaires and giant corporations should pitch in just like everyone else.<\/span><\/p>\n<p class=\"paragraph | gutter_20_0\"><span class=\"html-render\"><i>Elizabeth Warren is a US senator from Massachusetts.<\/i><\/span><\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiS2h0dHBzOi8vd3d3LmJvc3Rvbmdsb2JlLmNvbS8yMDIzLzAxLzIyL29waW5pb24vcmVwdWJsaWNhbi1jb24tZGVidC1jZWlsaW5nL9IBAA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For generations, Republicans in Washington have relentlessly driven up the national debt by shoveling tax breaks to the rich. The cumulative impact has been staggering. In the 1950s, corporations paid 6 percent of the cost of running our country; today, that number has fallen to 1 percent. The 2017 Republican tax cuts were the latest &hellip;<\/p>\n","protected":false},"author":1,"featured_media":45167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/45166"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=45166"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/45166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/45167"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=45166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=45166"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=45166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}