The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

More than 20 Republican senators are demanding yet another massive tax break for wealthy Americans.

In a letter addressed to Treasury Secretary Steven Mnuchin, the lawmakers begged the administration to tie capital gains to inflation. The senators, led by Ted Cruz (R-TX), claimed the move would benefit the economy, but a 2018 analysis by the Center on Budget and Policy Priorities found it would mostly benefit the wealthy.

Such a policy would cost the government about $100 billion to $200 billion in revenue over ten years, placing it on the backs of American taxpayers. Additionally, 86 percent of the benefits would flow only to the top 1 percent of households, according to the analysis.

Apparently the wealthy haven’t cut enough breaks lately under the Trump administration.

The conservatives’ demands follow a budget compromise between Trump and Democrats to raise the debt ceiling, the deadline of which was sped up by the GOP’s 2017 tax scam.

That tax scam, passed solely by Republican lawmakers, cost American taxpayers a whopping $1.5 trillion and mostly benefited wealthy corporations.

Due to the high price tag, the administration has been eager to make deep cuts to important safety net programs. The White House has proposed cutting more than 3 million poor Americans off of food stamps to save the government money. The administration has also taken aim at education, hoping to slash billions from the Education Department. In 2018, the administration denied federal workers their 2.1 percent raise due to “serious economic conditions affecting the general welfare.”

Additionally, the tax cuts did not help grow the economy how Republican lawmakers claimed they would. A March report from the White House Council of Economic Advisers (CEA) found that the economy will not sustain even a 3 percent growth for the foreseeable future.

It seems the GOP hasn’t learned its lesson and will do anything to make sure money flows only to the rich and powerful.

Published with permission of The American Independent.

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Reprinted with permission from Alternet

Throughout the COVID-19 pandemic, the MAGA movement and far-right Christian fundamentalists have downplayed its severity — inspiring critics to slam MAGA as a suicidal "death cult." Christian fundamentalist Joy Pullmann, in a shocking op-ed published by the far-right website The Federalist on the day of Gen. Colin Powell's death, argues that Christians should welcome death from COVID-19, like any other cause of death, as "a good thing." And she attacks the "pagan assumptions" of those who argue in favor of widespread vaccination.

"For Christians, death is good," Pullmann writes. "Yes, death is also an evil — its existence is a result of sin. But thanks be to God, Jesus Christ has redeemed even death. In his resurrection, Christ has transformed death into a portal to eternal life for Christians…. The Christian faith makes it very clear that death, while sad to those left behind and a tragic consequence of human sin, is now good for all who believe in Christ."

Keep reading... Show less

Reprinted with permission from Alternet

Don Winslow, the author of several New York Times bestsellers, blasted Sen. Joe Manchin (D-WV) in a newly-released video shared on social media.

For months now, Manchin has positioned himself as one of the main roadblocks of President Joe Biden's proposed Build Back Better agenda, pushing back on key provisions including child tax credits and climate initiatives.

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}