Drudge Retort: The Other Side of the News
Wednesday, December 27, 2017

For this viewer, the meaning of the Trump show began to change with last week's tax bill. Republicans' performance at last week's White House in celebration of the party-line tax bill may have been bombastic and obsequious, but the party placed its bet on a growing economy.

Every bit as hysterical, excessive and embarrassing was the countershow put on by Democrats. But they put themselves on the side of bad things happening. Nancy Pelosi, Chuck Schumer and their junior shadows danced around the maypole, lighted candles, burned effigies -- in hope that you will lose your job in 2018, see your hours cut, fail to get an expected raise. This probably is an ill-advised bet by Democrats.

The world's major economies are in a synchronized upswing. The world's central banks are using the window to withdraw their histrionic and destabilizing monetary accommodations of the past decade. To the extent that "it's the economy, stupid" still trumps, the GOP will benefit.

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Democratic economists are reworking their "secular stagnation" models to say the Trump program is leading not to faster growth but higher inflation. They are likely to be disappointed.

Republicans and Democrats, including Barack Obama, have long said our corporate tax system was dysfunctional and needed to be fixed. The rest of the tax bill may be anticlimactic, but it broadens the standard deduction, cuts rates a bit, and slightly reduces itemized deductions, those corrupt and corrupting schemes by which Washington rewards you for redirecting your income to various lobbying interests (including state and local government).

How different would a Democratic party-line tax bill have been? Probably not much different on the corporate side, unless you think the difference between 21% and 28% is vast and telling. On the personal side, Democrats would likely have focused on trimming back different deductions (for the rich!), but would likely have made it up to voters with a larger standard deduction and lower rates just as Republicans did.

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"It took three Reagan tax bills and five years before we got the bipartisan 1986 tax reform. If that history is borne out a second time, then last week's tax bill will be a down payment on better things to come. This could be another way the Trump show, if it creates successes that both parties eventually want to own, teaches us something mysterious about what is required to move our country ahead now."

Interesting take on how this will effect the elections next year, with most of the MSM now conceding that over 80% of voters will get a tax cut, if the economy improves will the Doom and Gloom messaging that the Democrats used to try to defeat the recent Tax legislation continue to play out towards next year's mid-terms?

My guess is that the Democratic Party's messaging will shift to claim economic gains, especially in their target States, as their own.

#1 | Posted by Rightocenter at 2017-12-27 12:44 PM | Reply

The dems may just point out the repubs are bankrupting the country with massive deficits.

#3 | Posted by bored at 2017-12-27 01:52 PM | Reply | Newsworthy 1

#4

Nice analogy, but I think this is a little more accurate:

Both parties act like men throwing money at strippers on crack when spending our tax dollars, the difference between who is hollering about the money spent depends on is who is controlling the ATM card while the withdrawals are being made.

#5 | Posted by Rightocenter at 2017-12-27 02:36 PM | Reply

#3

That accusation against Obama and the Dems is what got the GOP control of most Statehouses, Governorships and Congress from 2008 to the present, I think that would probably work pretty well for the Dems over the next 4 (maybe 8) years.

#6 | Posted by Rightocenter at 2017-12-27 02:38 PM | Reply

then fail to gain significant ground in the mid-terms

They will gain significant ground, and probably the House at the very least, unless they somehow self-immolate in the next 10 months.

#7 | Posted by Rightocenter at 2017-12-27 02:39 PM | Reply

all posts so far, except #3, ... are a joke. we/i needn't correct and lay-out, yet again, the national state of affairs at the time of each new tax bill ... since, say, Reagan.

good luck. i suggest removing the blinders.

#8 | Posted by ichiro at 2017-12-27 05:51 PM | Reply

The Greatest Show on Earth!

#9 | Posted by donnerboy at 2017-12-27 06:32 PM | Reply

#8

Looks like Ichi is trying to challenge CocoChief for wordsalad supremacy.

#10 | Posted by Rightocenter at 2017-12-27 06:39 PM | Reply

I like to stay in arrears.

--The Honorable Mr Donald J. Trump, Esq., President of the United States of America (and Minor Outlying Territories)

#11 | Posted by madscientist at 2017-12-27 06:52 PM | Reply | Funny: 1

They will gain significant ground, and probably the House at the very least, unless they somehow self-immolate in the next 10 months.

Sorry to disagree, but no one has the power to grasp heart-wrenching defeat from the jaws of victory quite like Democrats or their media supporters.

Example: Hillary +20. No Road for Trump to 270

#12 | Posted by cookfish at 2017-12-27 09:25 PM | Reply

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... the party placed its bet on a growing economy.

This is utter hogwash. The GOP knows the economy won't grow enough to pay for these tax cuts. The Wall Street Journal knows it too. We've been down this same road a half-dozen times before. Republicans always claim their tax cuts will pay for themselves. They never do.

This tax bill gives fat cats all the tax breaks and puts the bill on our children and grandchildren. Same as it ever was.

If you support it and you're not in the .01% you're a sucker.

#13 | Posted by rcade at 2017-12-27 10:36 PM | Reply | Newsworthy 3

It's not what they know. It's what they can sell

#14 | Posted by eberly at 2017-12-27 10:39 PM | Reply | Newsworthy 1

The GOP knows the economy won't grow enough to pay for these tax cuts.

Of course they don't, they have already said the they will have to cut (mostly from entitlements) spending to balance this out...this was in their platform for the past 3 Presidential cycles, its not a big secret.

What the WSJ is talking about, as Eberly notes, is what the GOP can sell. If the economy is doing well and people have a little extra in their paycheck then the Dems won't be able to continue the Doom and Gloom that they have been selling for the past 6 months. People aren't going to focus on what happens 10 years from now when these cuts sunset, they are going to focus on what has happened over the past 10 months.

#15 | Posted by Rightocenter at 2017-12-27 11:09 PM | Reply

Again Hauser's law..

No matter the tax rates, we don't collect more than 20% of gdp.

Plan and spend accordingly.... Or not...

#16 | Posted by AndreaMackris at 2017-12-28 12:02 AM | Reply

- Plan and spend accordingly.

Woman has never been on a personal budget her entire life.

But has had tax laws written for her by Republicans who do that for their supporters.

#17 | Posted by Corky at 2017-12-28 01:17 AM | Reply

"is what the GOP can sell"

YEAH!

like adding 50 pages of tax code, then calling it "simplified"?

#18 | Posted by ChiefTutMoses at 2017-12-28 11:11 AM | Reply

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