Since these are GOP politicians who are talking I can safely assume they are lying. No need to take my word for it. A multitude of reporters talking to a multitude of economists (though, granted, none conservative) can do it better than I can. I could summarize the major points, but there are so many of them I would end up with a long post.
Instead, I’ll just make a few points.
* The nasty guy claims he won’t benefit from the tax cuts. Liar. He’ll likely benefit to the tune of $1 billion. And he’s urging Congress to benefit him in this way as he obstructs aid to Puerto Rico.
* All the talk has been about what the tax bill will do for the middle class (even though what they are saying is lies). None of these talking heads say anything about what the tax reform will do for the poor.
* All of the talk has assumed that a need for a tax cut is obvious. This tax bill will put more money in your pocket! I disagree with that premise. There are better things to do with my taxes than to give the money back to me. I’ll repeat the argument I made just three weeks ago.
Taxes pay for things that benefit my life and are important to me. Taxes pay for things we as a society hold in common. Good schools so the next generation is well educated. Good roads and other infrastructure. An internet where all may speak. City, county, state, and national parks – areas set aside for natural beauty, recreation, or perhaps simply allowed to be wild. Emergency management. Regulations and enforcers to keep our water clean, air pure, food safe, and bankers from fleecing us. A health system for my old age (wish it was broader than that). A retirement system so I and others can retire and not be impoverished. Workers cared for when injured on the job. A basic social safety net (which, alas, has some pretty big holes right now). The list is long.
I don’t mind paying taxes. I get a lot of benefit from them. However, I do mind when I don’t receive benefit from my tax and the society as a whole doesn’t either. I mind when the tax system is rigged to draw money out of the poor to hand it to those already rich (which the upcoming Congressional “tax reform” is all about). I’m pretty sure that’s what annoys most taxpayers who take their annoyance out on taxes instead of misused taxes.