The Republican con on the debt ceiling

For generations, Republicans in Washington have continually raised the national debt by giving tax breaks to the wealthy. The increase has been amazing. In the 1950s, corporations paid 6 percent of our national budget; today, that number is down to 1 percent. The 2017 Republican tax bill was the latest blow — a $1.9 trillion handout to wealthy individuals and multinational corporations. And, like the icing on the cake for billionaires, decades of Republican attacks on the Internal Revenue Service have reduced the number of audits among millionaires and corporate tax evaders.

Republicans don’t really care about the national debt. Instead, the first bill advanced by House Republicans would increase the budget deficit to protect against tax fraud. And the House’s new rules say additional tax cuts for billionaires and large corporations should not be passed. It seems that More debt is okay with Republicans in Congress, as long as it benefits the wealthy and well-connected.

But that is not enough. Republicans are committed to voting for the MAGA tax plan to cut taxes for the wealthy and corporations, while raising rates for everyone else. The Republicans’ 30 percent national income tax will increase the cost of everything families need, from food to diapers to fuel – a hard punch in the gut for families already living on a budget.

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Even after raising taxes on millions of Americans, Republican policies will not reduce the national debt. But this is not surprising. One point that unites Republicans is government aid to those who donate their money and financial hardship to everyone else. In 2011, they found their way. After nearly a decade of reckless Bush tax cuts, he created another debt crisis, which he helped pass through a massive austerity program.

The GOP’s budget cuts cost the US economy more than 7 million jobs, delayed our recovery from the Great Recession by decades, and helped secure the election of Donald Trump in 2016. showing among people who don’t feel “the extent of the pain our country is facing” – and expressed confidence that by 2024 “it will be worse.” For Trump and MAGA Republicans, pain is the point.

To help Trump win again, McCarthy announced that he would run the same game again: He would refuse to increase the debt limit until Democrats agreed to drastic cuts to programs like Social Security and Medicare.

Here’s the irony of today’s Republican fraud: Without years of Republican giving to the rich, there would be no borrowing. If Republicans hadn’t spent nearly $2 trillion on Trump’s tax cuts and helped tax evaders by starving the IRS for a decade, the United States wouldn’t need to raise the debt this year. In fact, the existing debt would have helped the federal budget run out by the end of President Biden’s first term. Any credit these days should be laid at the feet of the Republicans who worked so hard to help the wealthiest Americans avoid paying taxes.

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A serious discussion on reducing the national debt should start here: Repeal Trump’s 2017 tax on the wealthy. Let’s close that door before another 1 trillion dollars go through.

Second, save last-minute pressures imposed by the 15 percent minimum tax on tax returns, multibillion-dollar corporations and increased taxes on businesses bought to increase CEO pay. It is also an additional $100 billion.

Third, closing taxes on large multinational corporations. Europe is introducing a minimum tax of 15 percent on global profits to prevent companies from hiding profits abroad. The United States should join other countries that are following suit, raising another $600 billion.

Fourth, ask billionaires to pay taxes on their growing piles of wealth. Biden’s tax bill on billionaires is a good place to start and raises more than $300 billion.

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Finally, mention the stupid and unpopular Republican plans to increase our national debt. Don’t piss off the IRS or permanently cut the Trump-era tax rate or freeze all taxes on the wealthy and corporations while slapping American families with a 30 percent sales tax on everything from milk to auto repair.

A sensible change in the tax laws would strengthen our country’s standards and, at the same time, improve our values. They are also not thinking about politics. The American people do not support investing in manufactured problems. They don’t support cuts to essential programs so the rich can avoid paying their share. And they don’t support the aggressive tolerance to advance the economy of Trump and MAGA Republicans.

Democrats need to stiffen their backs and say enough is enough. Every lawmaker should refuse to cut even one dollar from supporting hard-working families and small businesses while billionaire corporations and the super-wealthy evade taxes. If Republicans care about the national debt, they can do what generations of politicians have refused to do — finally admit that billionaires and big corporations should get in just like everyone else.

Elizabeth Warren is a US senator from Massachusetts.


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