Apparently, Republicans believe that tax cuts for the wealthy are the answer in pretty much any economic situation. In the face of projected surpluses after the Clinton administration, the rationale was this was "the people's money." When the economy deteriorated three years later, they simply changed the rationale to economic growth and job creation.
Now, 10 months after the Obama administration, with a gross domestic product (GDP) of 3 percent, an unemployment rate of 4.1 percent, and inflation under 2 percent, a pretty fair set of numbers, Republicans are rushing through a giant tax cut for the wealthy again, under the guise of helping the middle-class.
Prior Republican tax cuts have resulted in anemic growth, huge deficits and greater wealth inequality. This one will too.
"We're going to give the American people a huge tax cut for Christmas, hopefully that will be a great, big, beautiful Christmas present," President Trump said recently. If and when the bill reaches his desk, look at his face and see how pleased and smart he feels for himself as he signs it into law.