Donald Trump has been wrong about essentially everything he has touched.
He was, and still is, wrong about his bigotry, his treatment of undocumented immigrants, both before and after they cross the border.
He has been wrong, at every step of the way, about his non-responses to the COVID-19 crisis.
He has been wrong in his personal life, with his cheating on all three wives.
He was wrong about his relationships with Jeffrey Epstein and his adolescents. He was wrong to wish Epstein’s rape assistant “well.”
He is wrong about not addressing Putin’s bounty on U.S. soldiers. He is wrong about his subservient relationship with Putin.
He was wrong to offer bribes to foreign countries if they would interfere with U.S. elections.
He was wrong about:
–coal and oil pollution
–bribing someone to take his SATs
–draft-dodging with fake bone-spurs
–cheating the workers who built his casinos
–managing the casinos into bankruptcy
–cheating his creditors
–Roger Stone’s commutation
–his many criminal associates
–his flagrant nepotism
–Trying to get the British Open for his Turnberry Resort
–other violations of the Emoluments Clause of the Constitution
–20,000 lies to cover it all up.
He was wrong about all the incompetent boot-lickers he hired and fired to run the government.
Donald Trump has been wrong about almost everything he has touched.
But he is right about this:
Trump officials, top Republicans split over what to put in coronavirus relief bill: ‘What in the hell are we doing?’
July 21, 2020, President Trump really wants a payroll tax cut on the next coronavirus relief bill — but no one else does.
By Kathryn Krawczyk, THE WEEK Magazine
Republican officials and the White House reportedly can’t agree on “policy goals, budget parameters, or even deadlines,” when it comes to planning the next wave of COVID-19 relief, the Post writes.
Sen. Chuck Grassley (R-Iowa) reportedly argued voters wouldn’t notice the payroll tax cut in the massive bill, giving it no real electoral value.
And when Sen. Tom Cotton (R-Ark.) pushed to spend money on what would win votes this fall, Sen. Ted Cruz (R-Texas) grew “incensed” at the idea of expanding the bill’s price tag, the Post continues — “What in the hell are we doing?” he reportedly asked.
Democrats have even more directly opposed a payroll tax cut, with Sen. Kamala Harris (D-Calif.) pointing out that it “doesn’t help those who aren’t on a payroll.”
That’s more than 17 million Americans as of the end of June — and they might also lose the extra $600 per week they’ve been getting on their unemployment benefits if Congress doesn’t renew the boost that expires at the end of July.
When asked if the end of the month deadline was within reach on Tuesday, Senate Majority Leader Mitch McConnell (R-Ky.) only laughed out a “no.”
The cynics among us will say that politicians only vote for things that will benefit themselves, so when GOP Sen Chuck Grassley argued that “voters wouldn’t notice the payroll tax cut in the massive bill, giving it no real electoral value,” that may have seemed like business-as-usual.
Believe it or not, there actually have been moments in American history when politicians voted for what’s right, despite populist headwinds. It’s that sort of breach from the politically expedient that separates a Lincoln or a Johnson, from a Bush II or a Trump.
That said, Grassley is wrong on the face of it.
- The employed voters, who outnumber the unemployed voters, surely would notice.
- The business owners, who pay half the payroll tax, would notice.
- It’s a talking point the GOP could use partially to offset the accurate perception that they are pro-rich and anti-poor.
- And most importantly, from both a political and a real standpoint, a cut in FICA — or better yet the total elimination of FICA — would help prevent a recession or depression that would doom the GOP in November.
Ted Cruz is the weakling who still is servile to Trump after Trump insulted Cruz’s father, wife and religion. Enough said.
Kamila Harris, who used to be smart, doesn’t know what she was talking about when she said a cut to FICA, “doesn’t help those who aren’t on a payroll.”
It absolutely does. It would help everyone in America, rich, poor, citizen, non-citizen, old, young, employed, unemployed — everyone. It helped in 2011 and 2012 when Obama cut the worker’s part of FICA from 6.2% to 4.2%.
It was called a tax “holiday,” as though taxing was normal and tax cuts were only a “holiday” from the normal. We never should have gone back off that “holiday.”
The elimination of FICA is Step #1 of the Ten Steps to Prosperity (see below).
FICA is the most regressive tax in America. It punishes the poor and the middle-income people, but is not directly paid by the wealthy.
FICA supposedly funds Social Security and Medicare — which it does not.
Federal taxes, unlike state and local taxes, do not fund anything. They are destroyed upon receipt.
Even without anyone paying the FICA tax, Medicare and Social Security could go on indefinitely. In fact, no one even pretends Medicare Part B is funded by FICA.
The Federal government uniquely is Monetarily Sovereign. It creates new dollars to pay for all its spending.
Even if the federal government didn’t collect a single penny in taxes, it still could continue spending, forever.
The most common measure of economic growth is Gross Domestic product, the formula for which is: GDP = Federal Spending + Non-federal Spending + Net Exports.
Federal Spending adds dollars to the economy. Increased Non-federal Spending requires an increased dollar supply. And Net Exports add dollars to the economy.
Thus all elements of GDP involve money supply; increasing GDP involves increased money supply.
A growing economy requires a growing supply of money. An economy cannot grow when the money supply shrinks. Thus, to grow the economy and to prevent recessions and depressions, the money supply must increase.
But every dollar paid into FICA is a dollar lost by the economy. So cutting FICA would help grow the economy and so, stave off recession or depression.
Surely, the GOP understands that a recession or depression will hurt the entire party’s chances in November. Even Donald Trump understands that.
It’s a miracle that the GOP leaders are unable to connect the dots and understand that cutting FICA will help them gain votes.
Ever since the incredibly brainless “Tea Party” managed to infect the Republicans, the GOP has been the party of the mean-spirited, the pro-rich, and the stupid.
So it is striking that the least intelligent Republican of all can see the truth standing in front of him, while the rest of the party csnnot.
Republicans are so paralyzed by the Tea Party’s hatred of the non-rich and deficit spending, that they all will cover their ears and essentially scream “La, la, la. I can’t hear you.”
By backing Trump during his well-deserved impeachment and during the numerous times he has been wrong, and then not backing him the one time he is right, the GOP will commit electoral suicide.
For the party that “can’t agree on policy goals, budget parameters, or even deadlines,” that too will be well-deserved.
There is a penalty for ignorance, and the GOP is well into the process of paying that penalty.
Politically, if not patriotically, the Democrats should follow Napoleon’s advice: “Never interfere with the enemy when he is in the process of destroying himself.”
Rodger Malcolm Mitchell
Monetary Sovereignty Twitter: @rodgermitchell Search #monetarysovereignty Facebook: Rodger Malcolm Mitchell …………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..
THE SOLE PURPOSE OF GOVERNMENT IS TO IMPROVE AND PROTECT THE LIVES OF THE PEOPLE.
The most important problems in economics involve:
- Monetary Sovereignty describes money creation and destruction.
- Gap Psychology describes the common desire to distance oneself from those “below” in any socio-economic ranking, and to come nearer those “above.” The socio-economic distance is referred to as “The Gap.”
Wide Gaps negatively affect poverty, health and longevity, education, housing, law and crime, war, leadership, ownership, bigotry, supply and demand, taxation, GDP, international relations, scientific advancement, the environment, human motivation and well-being, and virtually every other issue in economics. Implementation of Monetary Sovereignty and The Ten Steps To Prosperity can grow the economy and narrow the Gaps:
Ten Steps To Prosperity:
2. Federally funded Medicare — parts A, B & D, plus long-term care — for everyone
3. Social Security for all or a reverse income tax
4. Free education (including post-grad) for everyone
5. Salary for attending school
6. Eliminate federal taxes on business
7. Increase the standard income tax deduction, annually.
8. Tax the very rich (the “.1%”) more, with higher progressive tax rates on all forms of income.
9. Federal ownership of all banks
10.Increase federal spending on the myriad initiatives that benefit America’s 99.9%
The Ten Steps will grow the economy and narrow the income/wealth/power Gap between the rich and the rest.
3 thoughts on “The one time Trump has been right, the GOP is too dumb to agree with him.”
Hard to change old habits. Budget deficit concerns are largely a canard for Republicans and always have been. Of course the Republicans ultimate goal is to privatize social security as a huge gift to Wall Street and the wealthy. The only way to do that is to create the false solvency crisis and threaten to drastically cut benefits otherwise.
This ploy failed under Bush II, but given the potential windfall to the rich, Republicans, along with their well intended, but naive, democratic foils who want to “save” the system by raising taxes on the rich, will continue to have a vested interest in pushing the Social Security solvency “crisis”. If the solvency crisis is debunked, then the opportunity to privatize (Republicans) or increase taxes on the rich (Democrats) vanishes.
You could also add another more relevant Greenspan quote made in 2005, under oath, in a congressional budget hearing to Paul Ryan. Greenspan was responding to a question posed by Ryan on privatization of social security to assure its long term “solvency” and make future retiree benefits more “secure”. Greenspan’s response: “I wouldn’t say the pay-as-you-go benefits are insecure, in the sense that there is nothing to prevent the federal government from creating as much money as it wants and paying it to somebody”
Good one. I may use it in the future.
Trump’s top priority in the next coronavirus relief bill won’t make the cut
Unfortunately, Trump wants to cut the payroll tax not to start having the federal government start paying for medicare and social security out of Sovereign Money, but to eventually starve and eliminate those programs.
He has already talked about “reforming” “entitlements” in his next term (read: cutting. And both words need quotes because they are used in ways that don’t mean what they ought to mean).
And if Trump gets re-elected, he’ll get his wish on Medicare at least too. Most conventional analysis – that is, non-MMT – says Medicare will “run out of money” by 2026: https://www.chicagotribune.com/nation-world/ct-medicare-money-20180605-story.html#:~:text=Medicare%20will%20run%20out%20of%20money%20in%202026%2C,report%20says.%20By%20Richardo%20Alonso-Zaldivar%20and%20Andrew%20Taylor.
Given the long lead times, this means Trump will get to force cuts to the program if he holds Medicare hostage until the Democrats cave, which they always do. He’ll even advance the date to his last(?) term if he gets his payroll tax cut.