Déjà vu All Over Again: The GOP Prepares to Make the Rich Even Richer
"the GOP agenda is especially appalling. The Republican agenda calls for still deeper cuts in taxes for corporations and the top 1 percent, and a further easing of the "regulatory burden" on oil, coal and gas companies (including "frackers") and—believe it or not—Wall Street. A tax plan proposed by House Speaker Paul Ryan this summer would give an average annual tax cut of $137,780 to households in the top 1 percent. And we can expect the GOP to pursue deep cuts in spending on education, Head Start, environmental protection, Social Security, Medicare and Medicaid because, um, “we can’t afford it.” Remarkably, the Republicans have concluded—as they always do—that the super-rich are getting too little while children, the elderly, the middle class, the poor, and people of color are getting too much. And all of this will be facilitated by a cabinet chock full of laissez-faire billionaires, racists, and libertarian nuts. Trump’s administration is overflowing with Goldman Sachs alums—including Trump’s top economic adviser (Gary Cohn), his Chief Strategist (Steve Bannon) and the Secretary of the Treasury (Steven Mnuchin). Trump’s nominee for Labor Secretary—Andrew Puzder, a fast food CEO—opposes the minimum wage. Workers in his restaurants (Hardee’s and Carl’s Jr.) allege that "wage theft" and sexual harassment are common. Ben Carson, the prospective Secretary of Housing and Urban Development (HUD), believes that "poverty is a choice." Trump’s nominee for Energy Secretary is Rick Perry, a lifelong lacky for Big Oil and, further, an idiot. Tump’s nominee for Secretary of State, Rex Tillerson, is the CEO of ExxonMobil, where he has spent decades ravaging the planet for profit. Does this all sound familiar? After thirty-five years, it should. This is trickle-down economics. The "logic" here is that the economy will grow if we provide a better "business climate"—lower taxes and fewer regulations will liberate corporations to create jobs. The problem is that it doesn't work."