Cynics are said to be people who are prematurely disappointed about the future.
Such dyspepsia is encouraged by watching Republicans struggle to move on from the dog’s breakfast they have made of health care reform to the mare’s nest of tax reform. Concerning which, House Speaker Paul Ryan says: “If we’re going to truly fix our tax code, then we’ve got to fix all of it.” Trying to fix “all of” immigration in 2013 and health care in 2010 with “comprehensive” legislation left almost everyone irritable. Perhaps the third time is the charm.
Sen. Ron Wyden, D-Ore., is skeptical about fixing much this year.
The fourth-most senior Democrat and ranking minority member on the tax-writing Finance Committee, Wyden, 68, is usually relaxed but now is especially so, for two reasons. He was just elected to a fourth term. And for him and other Finance Committee Democrats, tax reform is, so far, an undemanding spectator sport. This was underscored last weekend when, as he was being driven from one Oregon town hall to another, he read a Wall Street Journal story headlined: “GOP Tax Overhaul’s Fate Rests on ‘Big Six’ Talks.”
Five of the six were in an almost taunting photo provided to the Journal by Ryan’s office — Ryan, McConnell, House Ways and Means Committee Chairman Kevin Brady, Senate Finance Committee Chairman Orrin Hatch, and Treasury Secretary Steven Mnuchin. The missing sixth person was National Economic Council Director Gary Cohn. No congressional Democrat is included.
Plausibility optional
Ryan and McConnell say tax reform will be “revenue neutral.” This might require dynamic scoring — calculating that reformed incentives will stimulate economic growth — to project implausible growth rates. Plausibility is, however, optional, as it was in April, when Mnuchin’s department produced a tax plan that was “shorter than a drug store receipt,” says Wyden — was one page long, contained 218 words, eight numbers and a thumping vacuity, the promise to “eliminate tax breaks for special interests.”