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The GOP’s tax cut has been a massive failure — and these numbers prove it

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It’s been one year since the Republican Party passed its massive tax cut — and so far it’s remained a political albatross for the GOP as the party’s promises of massive wage growth for workers have yet to pan out.

The Washington Post’s Matt O’Brien has taken a look at some of the numbers associated with the tax cut and has found that it hasn’t come close to living up to Republicans’ promises in nearly any aspect.

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President Donald Trump, for instance, boasted that the tax law would cause companies to bring back $5 trillion in overseas profits back to the United States — but so far, they’ve brought back a measly $143 billion.

Meanwhile, notes O’Brien, businesses’ nonresidential fixed investment last quarter rose by just 0.8 percent, even though the GOP promised that its tax cuts would lead to an explosion in domestic investments by corporate America.

So what have corporations done with their tax cut windfalls? Instead of investing in their businesses, they’ve been keeping their shareholders happy with a record high in total share buybacks.

Nonetheless, O’Brien believes the GOP’s tax cut has delivered on one key goal of the party: To make rich people even richer.

“For some of them, you see, letting the rich keep more of their money is an absolute moral good,” O’Brien writes. “Heck, it might be the absolute moral good. That’s because they’re worried, as House Speaker Paul D. Ryan (R-Wis.) used to put it before he realized that this type of Ayn Rand-inspired rhetoric is politically toxic, that the ‘takers’ will soon outnumber the ‘makers’ and simply vote to give themselves other people’s money.”

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Read the whole analysis here.


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Lindsey Graham promises Fox viewers a new investigation into Andrew McCabe despite the Justice Dept clearing him

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Appearing on the Fox Business channel with host Maria Bartiromo, Sen. Lindsey Graham (R-SC) promised viewers he fully intends to use his position as the head of the Senate Judiciary Committee to launch his own investigation into former Deputy Director of the Federal Bureau of Investigation Andrew McCabe despite the former law enforcement official already having been cleared by the Justice Department.

Complaining that the controversial Steele dossier was based on " a bunch of bar-talk and hearsay," Graham said he plans to call -- at the very least -- McCabe and former FBI Director James Comey in to be grilled by his committee.

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2020 Election

‘Kiss Florida goodbye’: Voto Latino head warns Democrats of coming 2020 debacle

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Appearing on MSNBC's "AM Joy," Voto Latino CEO María Teresa Kumar said Democrats should not count on taking Florida's 29 electoral votes in the upcoming 2020 presidential election if Sen. Bernie Sanders (I-VT) is the at the top of the ticket.

During a fairly contentious panel discussion on the viability of Sanders as a candidate due to self-identifying as a democratic socialist, Kumar claimed that would not play well Florida's Latino community.

"All I can think about when David [Corn] was unpacking it for us, we can all agree is you can kiss Florida goodbye," she explained. "I say that, Floridians -- Latinos that have fled socialism, they have fled and they are in Florida and they have sensibilities that are different from the rest of the Latino community."

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CNN’s Bakari Sellers schools Rick Santorum over claim Trump is not part of the ‘extreme hard right’

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During a panel discussion on CNN's State of the Union, contributor Bakari Sellers set fellow panelist Rick Santorum straight after he tried to claim that Donald Trump doesn't take far-right positions.

Following a discussion on Sen. Bernie Sanders' Nevada caucus win, Santorum tried to note the major differences between Trump and Sen. Bernie Sanders.

Responding to conservative commentator Linda Chavez who called both Sanders and Trump "two angry people," Santorum remarked, "I wanted to take issue with what Linda said: two angry folks representing the extremes, and I would agree with that, with Bernie Sanders, and he is representing, no question, the extreme of the Democratic Party and he says that he is a socialist and he is angry, I agree."

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