For months, we’ve been warning that you would pay the cost of Trump’s $1.9 trillion tax cuts. Well, here it is, the six-month anniversary of passage of the Tax Act, and the Republicans on the House Budget Committee just unveiled their plan: finance their increased deficit and balance the budget by cutting Social Security, Medicare, and Medicaid!
Here’s the good news. The Tax Act, which was going to be a big political winner for Republicans, is turning out to be a huge loser for them. Republican candidates are running from it. The more that voters learn about it, the less they like it.
Democrats, some of whom defected to support the Reagan and Bush tax cuts, were united in opposition to this one, and are united in their efforts to turn it into a political winner—and a teachable moment about the fraud of supply-side economics, besides.
For the first time in our nearly 30 years of publication, the Prospect has decided to devote an entire issue to a single topic—the Tax Act, as emblem and substance of all that is corrupt, opportunistic, and fraudulent of this period of Republican rule.
The print issue will be out next week. In the meantime, you can view some of the key pieces at Prospect.org, including the lead pieces by public opinion analysts Stan Greenberg and Guy Molyneux on how to make the Tax Act a winning issue for progressives.