‘We will pay, and our children and grandchildren’

By

December 4, 2017

Editor’s note: Deborah Weinstein, Executive Director of the Coalition on Human Needs, issued the following statement Monday, Dec. 4 in response to the tax bills passed by the Senate and House:

“The Senate and House members who voted to hand trillions of dollars in tax cuts to corporations and wealthy individuals have made a clear and bitterly disappointing choice:  they opted for massive giveaways to corporations and the rich and against investments in our future.

“The Joint Committee on Taxation estimated that, even counting the projected economic growth that would come from the tax cuts, the Senate bill would increase the deficit by $1 trillion over 10 years.  This projection confirms the estimates of other respected economic analysts who agree that the tax cuts do not pay for themselves.  Instead, most Americans will pay to give the richest among us still more.

“We will pay in increased taxes and, even worse, in lost health care, education, and other services.  President Trump and some in Congress have rushed to say that once they enact their tax plan, they will move to cut vital programs like Medicaid, SNAP/food stamps, and aid for people with disabilities.  Senator Rubio did not wait until the ink was dry on the Senate tax bill to call for cuts to Medicare and Social Security.  But services of all kinds will be hit:  health care, education, road maintenance, housing assistance, child care, protection against epidemics and environmental damage, Meals on Wheels, and much more.  Low- and middle-income families will in 2027 pay higher taxes and lose services; low-income families with children will lose the most.

“One thing is clear:  when those who voted for these irresponsible tax cuts invoke the deficit as the excuse to cut vital services, their statements will ring hollow.  Trillions of dollars have been given away, funds that could have been invested in improving our health care system, increasing the stock of affordable housing, improving K-12 education and relieving families of the burden of college debt, combating opioid addiction and rebuilding infrastructure.  Congress can still turn away from this grossly irresponsible payout to the rich.  If it does not, we will pay, and our children and grandchildren.”



Categories: Budget and Appropriations, Child Nutrition, Education and Youth Policy, Food and Nutrition, Health, Housing and Homelessness, Income Support, Medicaid, Medicare, Poverty and Income, Regulation, SNAP, Social Security, Social Services, Tax Policy

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Discuss: “‘We will pay, and our children and grandchildren’”

  1. avatar
    December 8, 2017 at 8:44 pm #

    Hi, Debbie. Roberta (Spivek) here. Great seeing that you’re still at the helm. I’m still caregiving, missing policy work; trying to do my part as a private citizen. I’ve been posting facebook updates on the tax bill (including to a friend with 5,000 followers) and wondering what the “ask” while House and Senate versions are being reconciled. What’s the short message folks should leave with their reos, until something comes to the floor? And does CHN have a target list I can share?

    Posted by Roberta Spivek
  2. avatar
    December 6, 2017 at 12:27 am #

    Sorry. “we will pay, and our children and grandchildren” is completely inaccurate. Our government is a creator, not a user of currency. It can make as much money as it needs any time it needs it. The idea that government is provisioned by tax revenues is absurd. Where do people who pay taxes get the dollars with which they do that if government doesn’t spend them out into the economy first?

    This is the state of play: Even the “liberals” believe we can’t have nice things because the sovereign, fiat currency creator (U.S. government) needs to retrieve money from the population that somehow magically got there without government spending it first. (In truth, National “debt” is the sum total of all dollar financial assets in circulation, just as your checking account is your asset while it’s the bank’s liability or debt.”

    Yes, I disagree with what Trump and the plutocrats are spending the money on. I even disagree with the structure of the tax bill (billions for billionaires, and chump change for the chumps), but framing the discussion this way is just as bad as what Trump is doing. It’s how Obama justified his version of austerity.

    Austerity is the problem. Not tax breaks for plutocrats. We can go to war and bail out banks ad infinitum, but can’t fund social safety nets. Democrats are complicit in “ending welfare as we know it,” too.

    Posted by Adam Eran

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