Fresh off their humiliating display of incompetent healthcare "reform” (by which they meant a tax cut for rich people), Donald Trump and the Republican Party alike are moving on to their next big agenda item: tax reform. This will also consist of a tax cut for rich people. And like the attempt to strip health insurance from millions, this too is shaping up to be a fiasco of their own making.
The problem, in short, is that Actual Tax Reform is hard. Very hard. And since nobody in the Republican Party is interested in doing a decent job of it, by which we mean taking suggestions from the opposition party as to reforms that both sides agree are needed, they'll be seeking to pass "tax reform" legislation through reconciliation, an avenue that lets them dodge a Democratic filibuster in the Senate.
That requires, according to reconciliation rules, that the bill be "revenue-neutral," adding nothing to the long-term deficit.
Which means that if they want to cut taxes on rich people, they're going to have to somehow pay for it with service cuts or tax increases on everyone else.
Which means once again, they're probably boned. Not only do they not have the tax cuts that their Obamacare repeal was supposed to deliver—they'll have to devise those all over again, if they still want them—but the other possible avenues of funding this monstrosity are probably going to be just as unpopular as their repeal effort has been.
from Daily Kos http://ift.tt/2nsyUmz
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