It has been said that individuals and nations eventually do the right thing, but only after trying all the possible alternatives. The Trump administration and Congressional Republicans seem determined to prove this adage by enacting policies that embody everything but the right thing. In the face of out-of-control federal budget deficits, they extend tax cuts that will result in $3.4 trillion in additional debt over the next 10 years, adding to the current crushing debt load of $37 trillion. Clearly, the “right” thing would be to let the tax cuts expire, raise taxes on the wealthy, adequately fund Medicaid and other priorities, and try to work toward actual deficit reduction.
The rest of the industrialized world realizes the threat posed by climate change and takes appropriate actions. However, Trump and his Congressional flunkies deny the overwhelming evidence for human-caused climate change and move in exactly the opposite direction required to address this problem. They eliminate government incentives for electric vehicles and renewable energy and instead adopt a backward-looking “drill baby drill” approach. This not only will worsen the climate crisis but also put the U.S. further behind China, which will continue to lead the world in the production, adoption and export of renewable energy, batteries and EVs.
The adoption of these and other wrongheaded policies (too numerous to mention here) makes one think the Founding Fathers must be turning over in their graves at what has become of the country they envisioned with such hope and promise.
(6) comments
And now Trump is even bagging about all the money pouring into the country because of his tariffs! My goodness! He doesn’t even understand how tariffs work! No money is pouring into the country because of the tariffs he imposed. The tariffs are paid by those who buy the imported products made more expensive because of the tariffs, - and that is us! Does Trump have much understanding of anything? Doesn’t look like it, which again shows how poorly educated he is, and what a slow learner he is.
The right thing is to reduce the cost government. If more money was left in the private sector it would grow jobs and increase standards of living because the private sector is a more efficient allocator of capital. Also a faster growing private sector would increase the tax base for government. Essentially the government is eating to much of our "seed corn".
The private sector almost doubled its corporate profits since 2020.
Not their revenue, not their income - their profits. In 2020 that was closer to $1.8T now its 3.6T.
Which means all this nonsense about prices being high because of "pandemic", "supply chain issues", "inflation", "CA gas tax", "minimum wage", or any other excuse was completely made up.
These companies have been doing price gouging and paid millions to lawyer to avoid paying their fair share in taxes.
The fact that with these kinds of profits, this government can't balance a budget - even after they pretended to DOGE everything unnecessary - tells us that this thinking has completely failed.
The companies and the government are taking advantage of voters with fairy tales like this. The GOP has never, ever been the party of fiscal responsibility. But the fact that their voters don't know that ... that is solid marketing.
easygerd - assuming you are quoting corroborated profit figures, those profits are plowed back into the economy. Through dividends, bonuses and increased salaries and wages. That money does not vanish. That is quite bit more preferable than peeing it in the ground through taxation and other government waste.
Dirk, do you know what a Stock Buy Back or C-level-Suite Bonus increase is?
That is what companies have been doing with the profits. That is the exact opposite of taking the money and reinvesting it into more onsite manufacturing, more employees, higher salaries, etc.
By definition a profit is what is left after a company did all that good stuff and paid millions to an army of lawyers to shirk their responsibility of paying taxes.
By definition the profit is the part where we see how much price gouging was going on in the first place. 30% profit basically means 30% price gouging or the difference between working for-profit or not-for-profit.
Compare the profits of grocery stores before and after the pandemic and you will notice the high price of quality produce had nothing to do with scarcity or competition or supply chain or inflation. It was always just corporate greed - and this "corporate administration" is eager to remove the few regulations that would keep them in check.
California gas prices aren't higher because of the ridiculously low 3 cent per mile gas tax, it's because of the $2 price gouging by Chevron and the rest.
Thanks for your letter, Mr. Steele, giving us the latest (and easily debunked) set of Democrat talking points about the One Big Beautiful Bill. I find it interesting that Dems, all of a sudden, are interested in budget deficits when previously, under treasonous Biden, they spent money like it was candy. Please remind us how many electric car chargers were installed with over $1 billion dollars. A handful, at best. BTW, if you let tax cuts expire, it raises taxes on everyone, not just the wealthy.
I see you tried to qualify those worried about climate change to “the industrialized world” but you seem to conveniently forget that most of the world is not industrialized, and even those that are continue to burn fossil-fuels to their hearts’ desires. And please explain why folks are taking 400+ private jets to attend, of all things, a climate conference to lecture everyone else about the evils of fossil fuels, while they burn fossil fuels to their hearts’ desires.
A solution… perhaps you can set an example by not taking any income tax deductions and paying your taxes due, in addition to writing an additional check to the US Treasury. What are the odds of that happening? And perhaps you can tell us what appropriate action you’re taking to address climate change. I’m betting an audit of your house will reveal how much fossil fuels were consumed to provide household items as well as in the manufacture of your house or vehicles. Don’t purchase anything as it was likely produced with fossil fuels, especially anything with plastic in it… Have a Trump-tastic day!
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