So this scrolled across my timeline:
Republican senators send letter to Sec. Mnuchin asking him to unilaterally cut taxes for the rich https://t.co/EfZpGsMvss
— Alan Rappeport (@arappeport) July 29, 2019
And if you click on the tweet’s link you will read a remarkable letter written by Ayatollah Ted Cruz, the senator from Texastan (and signed by 20 or so of his best friends, haha, he has none!), in which he urges the Worst. Bond. Villain. Ever Steve Mnuchin to use his authority to index capital gains to inflation, which would benefit the über-rich. (Changing the rules would require no legislation, btw. Tax cuts without a vote!)
Ted insists that the Living Typo must adjust capital gains for inflation “so that everyday Americans can continue to enjoy better lives and livelihoods.” And by everyday Americans, he does not mean filthy socialists like us, but hedge fund managers and the assorted Devosi (is too a wurd), Koch Brothers, etc.
Cruz then sings a GOP greatest hit:
“[Changing how capital gains are taxed] would…unlock capital for investment, increase wages, create new jobs, and grow the economy, benefiting Americans across all income levels.”
Yup. He’s giving his idea the aura of Saint Ronnie’s trickle-down economics which —[checks notes] —has yet to work even after 40 years of repeated attempts.