The Senate passed the budget resolution last night on a vote of 51-49. Not a single Democrat voted for the budget. In a rather humorous bit, some of the Democrats spoke against the budget because it would not erase the federal deficit. These are the same people who worked with Obama to double the national debt (by ten trillion dollars) over the Obama years.
So how does the media cover this event? They all point out that passage of the budget lets the GOP use reconciliation to pass the tax reform bill. In other words, the Democrats will not be able to filibuster tax reform as they threatened to do. Then the media in unison point out that the GOP failed to repeal Obamacare, and that both the GOP in Congress and President Trump are hoping for their first legislative victory. Interestingly enough, not one of the articles I read on passage of the budget talked about the content of the tax reform package or the effect that passage would have on economic growth. Everything is put in terms of getting a political victory. Few Americans care if one party or the other gets a victory. They care, instead, about whether the policies followed mean more jobs, more economic growth, higher wages and the like. So why doesn't the media bother to even mention that? After all, it is the single most important issue for Americans year in and year out.
The answer, of course, is that by keeping mum on the beneficial effects of tax reform, the media doesn't highlight that the opposition by the Democrats to tax reform is likely to slow economic growth, to keep wages lower, and to reduce the number of jobs created by the economy. In other words, by ignoring the tax reform package itself, the media is trying to shield the Democrats.
On this subject, however, the word is out. Last night, after the budget passed the Senate as expected, the stock market futures shot up like a rocket. Those who understand economics knew that a tax cut would spur much greater growth for the US economy with all the benefits that such growth creates for the average American. They spoke with their money. It was the most honest response one can imagine. Unfortunately, the media has not learned the virtue of honesty.
So how does the media cover this event? They all point out that passage of the budget lets the GOP use reconciliation to pass the tax reform bill. In other words, the Democrats will not be able to filibuster tax reform as they threatened to do. Then the media in unison point out that the GOP failed to repeal Obamacare, and that both the GOP in Congress and President Trump are hoping for their first legislative victory. Interestingly enough, not one of the articles I read on passage of the budget talked about the content of the tax reform package or the effect that passage would have on economic growth. Everything is put in terms of getting a political victory. Few Americans care if one party or the other gets a victory. They care, instead, about whether the policies followed mean more jobs, more economic growth, higher wages and the like. So why doesn't the media bother to even mention that? After all, it is the single most important issue for Americans year in and year out.
The answer, of course, is that by keeping mum on the beneficial effects of tax reform, the media doesn't highlight that the opposition by the Democrats to tax reform is likely to slow economic growth, to keep wages lower, and to reduce the number of jobs created by the economy. In other words, by ignoring the tax reform package itself, the media is trying to shield the Democrats.
On this subject, however, the word is out. Last night, after the budget passed the Senate as expected, the stock market futures shot up like a rocket. Those who understand economics knew that a tax cut would spur much greater growth for the US economy with all the benefits that such growth creates for the average American. They spoke with their money. It was the most honest response one can imagine. Unfortunately, the media has not learned the virtue of honesty.
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