The 2017 Tax Cut and Jobs Act was enacted by the same reconciliation process under Trump that the recent American Rescue Plan was enacted by Democratic Party control. According to a Wall Street Journal article that reviewed that 2017 legislation’s effects two years later, most (not all) of the goals were not achieved. I cannot “unremember” our recently re-elected congressional representative spending over eight minutes (I could not take any more of her) attempting to explain these lack of results. Her “rope-a-dope” performance was worthy of Muhammad Ali.
So, I see the political cartoon of a morbidly obese “National Debt” feasting on “pork” and captioned “Big Winner in the COVID Bill.” That effort would be so much more informative to readers if all the major sections of the American Rescue Plan were labeled on that pig. But, that was not the intent of the artist nor those who decided to publish it, was it?
I aver that a great deal of the $1.9 trillion will be spent and re-spent many times over and that, as the stock market seems to be indicating, there will be the intended results in employment, business activity, consumer spending, tax revenues, national debt reduction and hopefully voter appreciation in 2022.
