QUOTES OF THE DAY

“The gods are deaf when we pray to them, their fire
Recoils from our offering, their birds of omen
Have no cry of comfort, for they are gorged
With the thick blood of the dead. O my son,
These are no trifles! Think. All men make mistakes,
But a good man yields when he knows his course is wrong,
And repairs the evil. The only real crime is pride.”

Sophocles, Antigone

“I think it would be nice just tonight to just acknowledge that this tax cut is really not for the middle class; it’s for the rich. And that whole thing about higher wages, well, it’s a good selling point, but we know companies don’t just give higher wages — they don’t just give away higher wages just because they have more money. Corporations are sitting on a lot of money. They are sitting on a lot of profits now — I don’t see wages going up.”

Senator Sherrod Brown

“I think not having the estate tax recognizes the people that are investing. As opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”

Senator Chuck Grassley


David Stockman Slams The GOP Tax Bill: “Fuggedaboutit!!”

Authored by David Stockman via Contra Corner blog,

The GOP has become so politically desperate that they might as well enact a two-word statute and be done with it. It would simply read: Tax Bill!

Actually, that’s not far from where they are in the great scheme of things. The Senate Finance Committee’s bill is a dog’s breakfast of K-Street/Wall Street pleasing tax cuts, narrowly focused revenue raisers that will be subject to withering attack on the Senate floor, nonsensical vote-driven compromises and outrageous fiscal gimmicks—-the most blatant of which is the sun-setting of every single individual tax provision after 2025.

This latter trick is designed to shoe-horn the revenue loss into the $1.5 trillion 10-year allowance in the budget reconciliation instruction and also comply with the Senate’s “Byrd Rule” which allows a point of order to strike down a reconciliation bill that increases the deficit after year 10. Save for these gimmicks, the actual 10-year cost of the Senate bill would be $2.2 trillion including interest on the added deficits.

Continue reading “David Stockman Slams The GOP Tax Bill: “Fuggedaboutit!!””