New Tax Bill; Bigger Deficits And Arctic Drilling

      A massive tax bill has been passed that most senators and congressmen have not read. According to Senator Ron Johnson, Republican from Wisconsin, "You really don't read this kind of legislation."

      Even though this tax bill will add significantly to the already enormous national debt, fiscally irresponsible Republicans wishfully declare the tax cuts will stimulate the economy enough to make up for the shortfall. Passing one piece of major legislation, no matter how flawed, is more important to them than continuing to demonstrate they are as incompetent and beholden to special interests as the Democrats.

       In 2013, House Speaker Paul Ryan warned that deficits, "weigh the country down like an anchor. In short, we are on the verge of a debt crisis." Only one Republican, Senator Bob Corker, remained true to his fiscally conservative beliefs regarding deficits, and opposed the bill.

       The United States will incur massive new debt by this new, read by only a few, poorly thought out legislation. Furthermore, when interests rates go up, which will happen inevitably, it will be that much harder to service the national debt.

       The tax bill will create jobs, some argue. It is true some jobs will be created, but other jobs will be lost. More importantly, reduced taxes on corporations and the wealthy will not result in a massive influx of jobs. Corporations will continue to seek places that have the cheapest labor along with the lowest environmental and workplace standards.

       The tax bill will not be a job creator. It will not sufficiently grow the economy to make up for the more than trillion or trillions of dollars of new debt it will create. 

       The new tax bill will continue America's destruction of the middle class. It will continue America's slide into oligarchy or aristocracy. It will fuel the stock market euphoria so the bubble gets even bigger. Except this time when it bursts, a massively in debt nation with already excessively low interest rates will have no ammunition left to get out of the hole it created.

        Meanwhile, military spending will continue unchecked, paid for by deficit spending. All the new gifts to the wealthy, to corporations, to Republican special interests, will be paid for by deficits, which means an unwanted gift to future generations.

         Senator Flake of Arizona, one of the few that opposed the new tax bill, capitulated on some kind of flimsy promise that DACA will be addressed. He cares about DACA, but not about the fiscal well being and health of the nation as a whole. DACA should have had nothing to do with his unprincipled capitulation. In exchange for his selling out, he did not even receive a pledge that DACA safeguards will be implemented again.

         The new tax bill will help kill the Affordable Care Act (without putting anything better in place), ensuring millions of new uninsured and underinsured Americans, which will add significantly to the national debt.

         Sneaked into the new tax bill is authorization for drilling in the Arctic National Wildlife Refuge. Afterall, what good is a new tax bill that does not include special interest agendas?