Tipping Point
The Senate passed a tax reform bill last night. The vote was taken at a late hour, after a flurry of last minute amendments, which members certainly did not have the time to read or consider. But no matter. The bill became law along party lines. Republicans all thumbs up, and Democratic Senators, thumbs down.
The motivation behind the bill was succinctly expressed by Senator Lindsey Graham of South Carolina. “If we do not pass something—Steve Bannon will have a great argument to beat us all.”
So be it.
The deficit will rise into space like the recently tested North Korean Hwasong-15 ICBM.
This “something” is called The Tax Cuts and Jobs Act. Without a shred of subtlety the President wanted to call the bill, The Cut, Cut, Cut Act. Indeed it will cut like the blade of a straight razor.
