Republicans know their days controlling Congress are numbered (235 days to the midterms as of this writing). With a string of special elections loses turning into a noose, they can clearly see the writing on the wall. So as their final act as the party in power, they're going on one last looting spree:
“We're actually going for a phase two which will help — in addition to middle class, it will help companies and it's going to be something I think very special,” Trump said in Missouri. “Kevin Brady is working on it with me, Congress is working, the Senate's working.”
Brady (R-Tex.), the chairman of the House Ways and Means Committee, confirmed another tax-cut bill was in the works.
“We think even more can be done,” he gushed on Fox Business Network.
Of course more can be done. There's still non-rich people that can afford to feed themselves. A few more tax cuts should crash the economy and take care of that. And that's really what we're looking at here: A looting spree designed to sabotage the economy once theGOP is out of power. Usually, Republicans have several years to gradually build up an economy designed to fail but Trump has put them on the clock. They're going to lose the House and quite possibly the Senate in November. Unless they loot the economy now and leave a smoking ruin behind as quickly as possible, they won't be able to cripple the next Democratic administration with massive deficits and a shattered economy. There is literally no other reason to pursue a massively unpopular tax cut for billionaires in an election year.
In other words, if Republicans don't set the economy on fire now, they risk the Democrats actually improving the lives of millions of Americans and that is the last thing Republicans want. And so they're going to push through more tax cuts aimed at the extremely wealthy:
Larry Kudlow, Trump’s incoming National Economic Council director, has likewise declared his excitement to be slashing taxes further. During a CNBC interview, he said the next round should make the individual cuts permanent and add a cut to taxes on capital gains. Capital gains, which refer to profits on sales of capital assets such as stocks or land, had gone untouched in the law that passed in December (though they already receive preferential treatment, mind you).
Last year, Republicans pushed through a wildly unpopular tax cut that took money from the working poor and middle class and gave it to the parasitic ultra wealthy. They assumed they would be able to bullshit the public into believing that this was a good thing because Obama's economy was still strong and people were seeing their wages increase. That plan failed so badly they had to stop running campaign ads for their mighty tax cuts in Pennsylvania because it was pissing off voters. Turns out that tax cuts for billionaires don't play well with working class Americans. Who woulda thunk it?
At the same time, Republicans like Paul Ryan are shedding crocodile tears about the massive deficit they literally just created as the reason we need to cut Social Security and Medicare. Yet somehow they will find the will to gladly cut taxes again. This utter contempt for the 99% is how the French aristocracy found themselves on the wrong end of the guillotine.
The peasants are about to run out of cake and we're starting to sharpen the blades. If Republicans pass another billionaire tax cut after exploding the deficit to over a trillion dollars in one year, heads need to start rolling.