Correction Please
Why So Much Red Ink? Blame Overspending, Not Cutting Taxes
Item: The left-wing Washington Post in its print version for September 29, 2018, reported that “House Republicans pushed through a new round of tax cuts Friday that would permanently extend the cuts for individuals in President Trump’s signature law that are set to expire within a decade. During debate over the tax law last year, Democrats frequently attacked Republicans because the legislation contained permanent rate reductions for corporations but temporary ones for individuals.”
The Post went on to say: “Democrats termed the legislation another ‘tax scam’ that primarily helps the wealthy while adding even more to the nation’s dangerously large $21 trillion debt. And Democrats warned repeatedly that the legislation would threaten Social Security and Medicare, claiming the GOP would ultimately seek to cut those programs to pay down the debt — a charge Republicans dismissed as scare tactics.”
Item: A Bloomberg article dated September 30 pointed out that “Democrats opposed the [Trump administration’s] tax bill, and [Democratic] party leaders have deplored Trump’s fiscal recklessness.”
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