The extraordinarily unpopular bill is built on lies and ignores what we know about economics
Blog ››› ››› CRAIG HARRINGTON
President Donald Trump and his Republican congressional allies are enjoying a round of praise from media commentators for finally getting a legislative “win” on the board as their tax bill closes in on passage before the end of the year. The budget-busting corporate giveaway will enrich the superwealthy and do little for Americans who have to work for a living.
Republicans finally unveiled the finished version of their tax legislation last Friday evening, and -- despite the public having just days to absorb its 1,097 pages -- both chambers of Congress plan to vote on the bill before the end of the week. If everything goes according to plan, the president will sign the bill into law just in time for members to head home for the holidays.
After a year plagued by self-destructive outbursts, failed policy changes, unprecedented legal troubles, embarrassing scandals, humiliating legislative defeats, and nationwide political upheaval, many in the press are framing the GOP tax proposal as a crucial “win” for Trump and his party.
On the December 18 edition of CNN Newsroom, co-host Poppy Harlow wondered how anyone could argue the past year “hasn’t been a win for the president on some big fronts,” given a handful of recent accomplishments, including the new tax bill. Reporter Caitlin Huey-Burns agreed with Harlow’s assessment while noting that such favorable framing fits “the way that the White House has been messaging their own achievements”:
During an earlier segment on CNN’s New Day, guest A.B. Stoddard suggested that the Republican tax bill, which the Economic Policy Institute has labeled “a scam,” could count as “a great boon for Republicans” and “a win on the board,” if the bill actually fulfilled its over the top promises. (It won’t.) Commentary framing the expected party-line vote as a major victory for the GOP also cropped up in The Associated Press, Politico, The Hill, and The New York Times. Reporters have seemingly gone out of their way to pat Republicans on the back for endorsing legislation so historically unpopular it registers significantly less support than some previous tax hikes:
In a December 15 video, Eric Schoenberg of the activist group Patriotic Millionaires explained how the GOP tax bill overwhelming favors wealthy people like him (and the Trump family) while doing little for lower- and middle-class people. Trump and the Republicans continue falsely claiming that the bill will spur business development, boost wages, and stoke renewed economic growth, but the message is such a fantasy even Fox News had to admit there was nothing to it. Previous studies from the Congressional Research Service and the Brookings Institution have demonstrated little relationship between tax cuts for the wealthy and invigorated economic activity, which Trump and the GOP have promised will result from this tax bill.
The bill permanently cuts taxes for corporations while giving only modest, temporary relief for working people. It loosens tax structures affecting the wealthiest Americans while threatening funds for Medicare, Social Security, Medicaid, and other initiatives that guarantee basic economic security to low-income families. The bill promises to add another $1.5 trillion to federal budget deficits over the next decade despite years of hysteria about Obama-era revenue shortfalls. The bill also senselessly repeals the Affordable Care Act’s individual mandate, which will likely result in millions of Americans dropping out of the insurance market.
Rather than praising the Republican Party for ending a remarkably unproductive year by managing to cobble together a tax giveaway to the super rich, journalists should report on what is actually in the bill. Trump and the GOP have definitely enjoyed some "wins" this year, but reporters need to point out that the Republican Party's successes have often resulted in pain and suffering for millions of Americans.