Reverse Robin Hood

Posted: December 3, 2017 in Corporatism, Economics, Legal Matters, Politics
Tags: , , ,

Brief, uncharacteristic foray into national politics. The Senate narrowly approved a tax reform bill that’s been hawked by that shiny-suit-wearing-used-car-salesman-conman-guy over the past months as simply a big, fat tax cut. From all appearances, it won’t quite work out that way. The 479-pp. bill is available here (PDF link), including last-minute handwritten amendments. I don’t know how typical that is of legislative processes, but I doubt rushing or forcing a vote in the dead of night on an unfinished bill no one has had the opportunity to review leads to good results. Moreover, what does that say to schoolchildren about finishing one’s homework before turning it in?

Considering the tax reform bill is still a work in progress, it’s difficult to know with much certainty its effects if/when signed into law. However, summaries and snapshots of tax effects on typical American households have been provided to aid in the layperson’s grasp of the bill. This one from Mic Network Inc. (a multichannel news/entertainment network with which I am unfamiliar, so I won’t vouch for its reliability) states that the bill is widely unpopular and few trust the advance marketing of the bill:

Only 16% of Americans have said they think the plan is actually going to cut their taxes, less than half the number of people polled who think that their bill is going to go up, according to a Nov. 15 poll from Quinnipiac University.

Yet it seems the Republican-led effort will be successful, despite concerns that many middle class people could actually see their taxes rise, that social programs could suffer, that small businesses could be harmed and that a hoped-for economic boom may never materialize. [links removed]

When a change in tax law goes into effect, one good question is, “who gets help and who gets hurt?” For decades now, the answer has almost always been Reverse Robin Hood: take (or steal) from the poor and give to the rich. That’s why income inequality has increased to extreme levels commencing with the Reagan administration. The economic field of play has been consciously, knowingly tilted in favor of certain groups at the expense of others. Does anyone really believe that those in power are looking out for the poor and downtrodden? Sorry, that’s not the mood of the nation right now. Rather than assisting people who need help, governments at all levels have been withdrawing support and telling people, in effect, “you’re on your own, but first pay your taxes.” I propose we call the new tax bill Reverse Cowgirl, because if anything is certain about it, it’s that lots of people are gonna get fucked.

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