(THREAD) The tax bill that just passed the Senate is terrible policy. But Republicans are right that passing it is better for them politically than failure. Here's why:
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This doesn't change any of the criticisms of the bill's substance. It's not regular order, which McCain said matters. It's not close to deficit-neutral (even when assuming big economic growth), which Flake said matters. It'll make premiums go up, which Collins said matters. 7/x
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It's poorly constructed, deficit-financed stimulus at the exact wrong point in the business cycle. But the likely effect is a short-term boost. That's politically advantageous for 2018. Maybe the bubble won't pop until after 2020. (If it does, they'll blame something else). 8/x
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The Republican tax bill is basically a no-money down ballooning interest rate mortgage. It's a terrible idea in the long-run. But the immediate effects should be pretty nice. 9/x
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That's donors, ideologues, and politics-as-sports voters happy. And few besides Democrats unhappy. At least in the short term. The policy is bad for millions of Americans and for the country as a whole. But politically, passing it was better for Republicans than failure. (END)
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End of conversation
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You are missing the long con:This bill will decimate the economy which is the plan since it will trigger austerity. Austerity meaning more decimation of a favorite
@GOP target, the safety net, to save the economy. It happens after every crisis, regardless who controls gvt.Thanks. Twitter will use this to make your timeline better. UndoUndo
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