The Congressional Budget Office has scored the Republican Tax scam.

This is fascinating.

The CBO, this is an independent, non-partisan agency that was created by Congress to be able to independently and without partisan bias determine the financial consequences of any particular piece of legislation that is being proposed by any party, including independents, in the United States Congress.

And so the Republicans submitted their tax plan to the CBO and the CBO came back with their score and they say that the Republican tax plan, by blowing a $1.7 trillion dollar hole in the budget of the United States of America, would raise our public debt to GDP ratio to 97.1%. In other words, over 90% of all economic activity in the United States is equal to the amount of debt that the United States has. By 2027.

And that would bring the debt to GDP ratio back to where it was in 1946. 1946 was the first year after the war. We were massively in debt in 1946. We had the World War II debt. It was the highest debt we've ever had in our history, arguably other than maybe fighting the revolutionary war, but we weren't a 'we' then.

This is amazing. And the Republicans like to go around and say, "we're the party of fiscal responsibility', which may be defined as having a balanced budget, so that the government can't loan money to people, the banks should be able to.

But the Republicans are so committed to paying off their donors. As Republican congressman Chris Collins said, "My donors are basically saying, 'Get it done or don't ever call me again.'"

So let's talk about tax.

-Thom


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