The Waning Hegemony of Republican Tax Cuts
Vote on the Reagan Tax Cuts of 1981
House: 321-107 (131 of those 321 yes votes are Democrats; one Republican votes no)
Senate: 89-11 (37 of those 89 yes votes are Democrats; one Republican votes no)
Vote on the Bush Tax Cuts of 2001
House: 240-154 (28 of those 240 yes votes are Democrats; no Republican votes no)
Senate: 58-33 (12 of those 58 yes votes are Democrats; two Republicans vote no)
Vote on the Trump Tax Cuts of 2017
House: 227-205 (none of those 227 yes votes are Democrats; 13 Republicans vote no)
Senate: 51-48 (none of those 51 yes votes are Democrats; 1 Republican votes no)
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4 Comments
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ronp
I think it is more of a tale of no more southern democrats and perhaps a recognition that republicans do not care about deficits and when democrats are back in power will yell about deficits to prevent any progressive legislation to fix our country’s problems.
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“Indeed, when Edmund Burke reflected on the revolution in France, he concluded that the strength of the British system of finance compared with the French was precisely that it allowed a virtuous or ‘miscible’ collaboration of landed and monied interests in a patriotic alliance. Adam Smith took a more complicated view of the benefits and shortcomings of the national debt.”
(Martin Daunton, Trusting Leviathan, 2001 pp39-40).
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1981 Reagan Tax Cut: Fool me once? Shame on you.
2001 Shrub Tax Cut: Fool me twice? Shame on me. (Or, quoting Shrub “Can’t get fooled again”. Because real cowboy Presidents just don’t do self deprecation)2018 Trump Tax Cut: Fool me a third time? What? I got nothing. What’s the punch line here? What?
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This is important and cause for optimism. We also need to remember the the trend formReagan to Bush II of shifting more of the tax cuts to rich individual and away from corporations had to be reversed in 2018 to bring in enough corporate power to back the legislation. Unless something changes this could be the last big Republican tax cut, and it might be fairly easy for the Democrats to reverse the cuts on the rich and perhaps even up the top rates.