Wells Fargo CEO promises to spend not one cent of the GOP tax gift on investment or wages

Yeah, I got a lovely letter from Cathy McMorris Rogers about how we should trust the GOP and not the mean mainstream media about what’s really going to happen to welfare programs as a result of this tax cut:

It willfully ignores the dozens of on-the-record comments from Republican reps and senators who have outright stated that the welfare state is next in 2018 (because now there’s a massive hole in the federal budget and deficits only matter when we’re talking about giving money to poor people), and asks us to trust the GOP when they promise to exclude Medicare, Medicaid, and Social Security – three programs they’ve actively loathed since their inception – from automatic spending cuts on a regular, ongoing basis.

How’s that September 30th deadline for the re-authorization of CHIP going, again? Oh right. Also, this woman voted for the repeal of the ACA, which would have literally decimated Medicaid enrollment in Washington, so her claims that she’s all about preserving Medicaid for the most vulnerable people in Washington are horse shit.

I will say though, it’s good that the Tax Foundation started producing favorable numbers for her again, because a few months ago her form response switched from citing them to citing the freaking Chamber of Commerce.

For extra fun, this is what the Tax Foundation’s hypothetical American households look like:

There are two households with incomes below the average annual income in the US, and only one more where that’s true if both people are earning income. One is a single man living alone pouring $2,600 of his already-meager $30,000 annual income into what is very probably a market-driven 401k, and the other is a married retired couple who are likely living off of Social Security. In both cases, the change in annual tax liability is less than $400. The people making $1,000,000 get almost as much as the first guy makes in a year (amazing what these new rules on pass-through income will do, isn’t it?).

Cathy can take her “People’s House” and stick it where the sun don’t shine.

5 Likes