It appears the first GOP tax cut for the wealthy (which added over $1.5 trillion in debt) was not enough. Ted Cruz wants ANOTHER tax cut for the wealthy.

NCPSSM — via twitter. Related Reading: It appears the first...

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“More to the point, the rate is way lower than you’d expect given the massive fiscal stimulus policymakers have been pumping into the economy. We were told that the GOP’s corporate tax cuts alone would permanently turbocharge growth to at least 3...

More to the point, the rate is way lower than you’d expect given the massive fiscal stimulus policymakers have been pumping into the economy. We were told that the GOP’s corporate tax cuts alone would permanently turbocharge growth to at least 3 percent.
Instead, Trump spent $2 trillion in deficit-financed tax cuts for the rich to get us basically the same growth rate we had before he took office.
The mechanism by which Trump’s signature legislative achievement was supposed to turbocharge growth, according to the tax cut’s advocates, was by stimulating business investment. Instead, business investment fell last quarter, in the second consecutive quarter of contraction.
via Washington Post.

Related Reading:

Here is how the first tax cuts for the wealthy
affected seniors.

The tax law would leave Medicare, Medicaid and Social Security vulnerable to benefit cuts because of its dramatic $2.3 trillion increase at a minimum in the public debt – an increase that will have to be offset in the future.
Inevitably, current and future generations of older Americans and people with disabilities will be forced to pay a heavy price for this irresponsible law.

“When asked about America’s soaring debt and deficits, Senate Majority Leader Mitch McConnell lamented “It’s disappointing, but it’s not a Republican problem,” and he blames Social Security, Medicare and Medicaid.
Rubbish. It’s not social spending...

When asked about America’s soaring debt and deficits, Senate Majority Leader Mitch McConnell lamented “It’s disappointing, but it’s not a Republican problem,” and he blames Social Security, Medicare and Medicaid.
Rubbish. It’s not social spending that’s causing the federal deficit to soar. It’s Republican tax cuts, especially on corporations and the wealthy.
Look at the evidence. Of all 35 advanced economies, America’s spending on social programs like Medicare, Social Security, and Medicaid is among the lowest, as you can see.
Also, Americans pay into Social Security and Medicare throughout their entire working lives.
via Common Dreams.

Related Reading:

Exploding the Budget Deficit Will Lead to Middle-Class Benefit Cuts.

The tax law would leave Medicare, Medicaid and Social Security vulnerable to benefit cuts because of its dramatic $1.5 trillion increase at a minimum in the public debt – an increase that will have to be offset in the future.