Wednesday, August 3, 2016

Donald's Big Play: Massive Tax Decrease, Massive Spending Increase!

Donald Trump stays with his massive tax cuts for the wealthy but doubles the infrastructure spending Clinton is calling for. No one said Trump can't think big.

Trump: I've got Hillary now. I'll outspend her!

There were actual Republicans who were horrified by what resulted from George W. Bush's expensive (unpaid for) wars on top of his Medicare D pandering to both seniors and Big Pharma. Bush never saw a deficit he didn't like. (Dick Cheney famously said deficits didn't matter.)

In order to restrain every possible Obama success, the Republicans aligned against him refused to allow him anything resembling a spending increase. The four biggest programs Obama did get through while he had the Congress -- the stimulus program, TARP/saving the auto industry, support for new energy technologies, and Obamacare -- have turned out to be either deficit-neutral or outright moneymakers. Who knew?

Now we've got Donald Trump stagnating in the polls, and most of the bigwigs in his party, while endorsing him, rarely indicate they actually support him. So you'd think he'd find a GOP-friendly way to boost his support.

That's not the Donald we've come to know. Trump thinks big, you've got to give him that. So reports Bloomberg:
Donald Trump on Tuesday proposed a plan to rebuild U.S. infrastructure that costs “at least double” the amount that Hillary Clinton has floated, in what would amount to a massive new government program.
Asked on Fox Business Network how much he'd spend, the Republican presidential nominee said, “Well, I would say at least double her numbers, and you're going to really need more than that. We have bridges that are falling down. I don't know if you've seen the warning charts, but we have many, many bridges that are in danger of falling.”
Clinton's plan, which is estimated to cost $275 billion over five years, calls for setting up a national infrastructure bank to help fund large-scale projects, an idea that President Barack Obama advanced only to see it stall for lack of Republican support.
Trump was vague when asked how he'd pay for his much larger plan.
The practicality of such a proposal, which would be debt-financed, calls into question Trump's prior promises to reduce the national debt, although he has been slippery on how quickly he would do so. In the same interview, Trump said that unlike his opponent, he wouldn't raise taxes.
“I'm doing the biggest tax decrease,” he said.
Trump plays with the idea of having "infrastructure bonds" (that's deficit spending with interest costs, right?) and "we'll make a phenomenal deal with low-interest rates" (sounds like what Obama could have done while rates were at zero).

This is going to bring the Republican leadership to support him fully, now that he's embraced the Republican no-taxes-massive-spending practices of the Bush years.

Or is he courting Hillary supporters by vowing to out-infrastructure-spend his opponent?

But then, no one ever said Trump was coherent.

Of course he could be channeling George W. "Big Wars Cut Taxes" Bush. How'd that work out?

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