Gentlemen, Start Your Engines for 2018 Midterms

Democrats seem to be over the moon about their 2018 midterm prospects. They seem to think that they will clear the tables and get themselves a Trump impeachment. And maybe they are right.

There is another possibility. By November the Mueller investigation may be even more compromised than it is now by the counternarrative of an administration interfering with the opposition party’s campaign in a way that makes Watergate look like amateur hour. Oh, and the economy will be reaching into turbo mode from the tax cuts. And what will the Democrats do then, poor things?

The economic problem the Democrats are facing is illustrated by a “yes, but” piece in the Atlantic, where Good Little Girl Annie Lowrey quotes center-left think tanks to show that the corporations will spend their ill-gotten tax cut gains on stock buybacks: nothing to see here but corporate tricksters. What Trump shoulda done, she writes, is

to construct a tax plan that would have both cut the corporate income tax and ensured that workers earned more. Pairing the former with an increase in the federal minimum wage and mandatory paid leave for parents would have done so, for instance. Instead, Congress is leaving it up to businesses to benefit workers as they see fit.

Liberals really do live on another planet. The corporate tax cut was not intended as some cheap way to win votes or to benefit employees and voters in the here and now. It is simply an effort to lower the tax rate on corporate income down to generally accepted international levels approved by all card-carrying globalists. (Did they lose your application, Annie?) When corporations buy back their stock as they did in the Obama years they are simply saying that, what with all the taxes and regulations and head-winds from liberal sue-and-settle shenanigans, they have nothing better to do with their profits than buy back their stock.

But that was in the bad old days of a 35 percent corporate tax rate.

The Trumpists are betting that a 21 percent tax rate and expensing of capital expenditures will radically change the behavior of corporations and revive their animal spirits in ways incomprehensible to Good Little Girl liberal journalists weaned on the baby food of center-left think tanks.

So here we are, after a year of Trump, with an astonishing record of reversed regulations, abandoned climate accords, and Surgeon Pruitt busy lancing the boil at the Environmental Protection Agency. And now a major tax cat.

Really, you couldn’t choose a better setup for the 2018 midterms. The Democrats get to wail about Russia collusion and Republicans stealing the silver and #MeToo and gay wedding cakes. Republicans get to talk about middle-class tax cuts and 4 percent growth. Remember the days when Dick Morris taught Bill Clinton to strike terror into Republican hearts with their centrist triangulation between left and right. Today’s Democrats don’t know nothin’ about such pranks.

On the one hand the Republicans are moving away from the dry desert purity of lower tax rates and free trade to the sunlit uplands of a tax cut that benefits the broad middle class and immigration policy that would slow the pressure on wages for the average American worker; on the other hand, the Democrats are playing to the identity politics fringes with moral urgency of metrosexual gender experimentation and an immigration policy that only a global internationalist could like.

And there is the question of what happens when the voters discover in February that they really are getting a tax cut and not the tax increase that the Democrats and the fake news media has taught them to expect.

So the American people get to choose. A lot of people think the 2016 election was a fluke; in 2018 we may get to find out if the American voters really meant it. Gentlemen, start your engines.

Okay, so the gutless Republicans failed to repeal and replace ObamaCare -- which would have enraged the Democratic party faithful -- while passing a tax cut aimed straight at the middle-class family with children. But the business tax cut that Lowrey brushes off has struck terror into the Europeans and the end of the Individual Mandate has opened a vein in ObamaCare that may end with Democrats crawling on their knees over broken glass begging President Trump to save them.

Again and again, in the last year, I have felt that despite all the sound and fury about President Trump’s tweets, there are sure signs that someone with a strategic mind has been directing Trump administration policy, on matters large and small. I wonder who it is?

I couldn’t be President Trump; why he’s just a second-rate casino owner and reality show host.

Christopher Chantrill @chrischantrill runs the go-to site on US government finances, usgovernmentspending.com. Also get his American Manifesto and his Road to the Middle Class.

Democrats seem to be over the moon about their 2018 midterm prospects. They seem to think that they will clear the tables and get themselves a Trump impeachment. And maybe they are right.

There is another possibility. By November the Mueller investigation may be even more compromised than it is now by the counternarrative of an administration interfering with the opposition party’s campaign in a way that makes Watergate look like amateur hour. Oh, and the economy will be reaching into turbo mode from the tax cuts. And what will the Democrats do then, poor things?

The economic problem the Democrats are facing is illustrated by a “yes, but” piece in the Atlantic, where Good Little Girl Annie Lowrey quotes center-left think tanks to show that the corporations will spend their ill-gotten tax cut gains on stock buybacks: nothing to see here but corporate tricksters. What Trump shoulda done, she writes, is

to construct a tax plan that would have both cut the corporate income tax and ensured that workers earned more. Pairing the former with an increase in the federal minimum wage and mandatory paid leave for parents would have done so, for instance. Instead, Congress is leaving it up to businesses to benefit workers as they see fit.

Liberals really do live on another planet. The corporate tax cut was not intended as some cheap way to win votes or to benefit employees and voters in the here and now. It is simply an effort to lower the tax rate on corporate income down to generally accepted international levels approved by all card-carrying globalists. (Did they lose your application, Annie?) When corporations buy back their stock as they did in the Obama years they are simply saying that, what with all the taxes and regulations and head-winds from liberal sue-and-settle shenanigans, they have nothing better to do with their profits than buy back their stock.

But that was in the bad old days of a 35 percent corporate tax rate.

The Trumpists are betting that a 21 percent tax rate and expensing of capital expenditures will radically change the behavior of corporations and revive their animal spirits in ways incomprehensible to Good Little Girl liberal journalists weaned on the baby food of center-left think tanks.

So here we are, after a year of Trump, with an astonishing record of reversed regulations, abandoned climate accords, and Surgeon Pruitt busy lancing the boil at the Environmental Protection Agency. And now a major tax cat.

Really, you couldn’t choose a better setup for the 2018 midterms. The Democrats get to wail about Russia collusion and Republicans stealing the silver and #MeToo and gay wedding cakes. Republicans get to talk about middle-class tax cuts and 4 percent growth. Remember the days when Dick Morris taught Bill Clinton to strike terror into Republican hearts with their centrist triangulation between left and right. Today’s Democrats don’t know nothin’ about such pranks.

On the one hand the Republicans are moving away from the dry desert purity of lower tax rates and free trade to the sunlit uplands of a tax cut that benefits the broad middle class and immigration policy that would slow the pressure on wages for the average American worker; on the other hand, the Democrats are playing to the identity politics fringes with moral urgency of metrosexual gender experimentation and an immigration policy that only a global internationalist could like.

And there is the question of what happens when the voters discover in February that they really are getting a tax cut and not the tax increase that the Democrats and the fake news media has taught them to expect.

So the American people get to choose. A lot of people think the 2016 election was a fluke; in 2018 we may get to find out if the American voters really meant it. Gentlemen, start your engines.

Okay, so the gutless Republicans failed to repeal and replace ObamaCare -- which would have enraged the Democratic party faithful -- while passing a tax cut aimed straight at the middle-class family with children. But the business tax cut that Lowrey brushes off has struck terror into the Europeans and the end of the Individual Mandate has opened a vein in ObamaCare that may end with Democrats crawling on their knees over broken glass begging President Trump to save them.

Again and again, in the last year, I have felt that despite all the sound and fury about President Trump’s tweets, there are sure signs that someone with a strategic mind has been directing Trump administration policy, on matters large and small. I wonder who it is?

I couldn’t be President Trump; why he’s just a second-rate casino owner and reality show host.

Christopher Chantrill @chrischantrill runs the go-to site on US government finances, usgovernmentspending.com. Also get his American Manifesto and his Road to the Middle Class.

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