Archive | February, 2018

A bewildering mash-up of US tax legislation and a really good short story by D.H. Lawrence

8 Feb

I didn’t want to bring this up, but there’s  no gettin’ ‘round the subject of the tax legislation that passed late last year. This topic deserves mention simply because those who passed it again repeated the same hackneyed pap they always repeat after passing legislation that mostly benefits the wealthy (that is, tax cuts that benefit the rich are just what us average folks across America need most.)

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A press release from Representative Tim Walberg (R-Michigan) states: “With this bill, the typical family of four earning the median family income of $73,000 will receive a tax cut of $2,059.”1 This conveniently leaves out the fact that according to a non-partisan analysis, the average 2018 tax cut for people in the top 1% will be $37,000.2 (And if anyone takes issue with the line they’re being sold, members of Congress can always suppress the dissenting view.) 3 This “trickle down” theory was all the rage during the Reagan era, and Congress and the current White house have revived it again (not that they necessarily believe it themselves.)

However, I’m already off in the weeds.  All this policy wonk stuff doesn’t ultimately interest me.  Books and movies do, and as I read of the latest attempt to sell the American people on this shopworn idea, I kept thinking about D.H. Lawrence’s, The Rocking Horse Winner.

In this short story, an unhappy wife, an unlucky husband, two daughters, and a son, Paul are haunted by voices:

Behind the shining modern rocking-horse, behind the smart doll’s house, a voice would start whispering: “There must be more money! There must be more money!” And the children would stop playing, to listen for a moment. They would look into each other’s eyes, to see if they had all heard. And each one saw in the eyes of the other two that they too had heard. “There must be more money! There must be more money!”

Paul’s frenzied rides on his rocking horse allow him to predict the winners of horse races. His winnings are considerable; through his uncle and the family lawyer he arranges for a thousand pounds to be paid to his mother on her birthday for five years. The mother renegotiates the deal to receive the entire five thousand in one lump sum. Once again, D.H. Lawrence:

And yet the voices in the house, behind the sprays of mimosa and almond-blossom, and from under the piles of iridescent cushions, simply trilled and screamed in a sort of ecstasy: “There must be more money! Oh-h-h; there must be more money. Oh, now, now-w! Now-w-w – there must be more money! – more than ever! More than ever!”

The story is a good one, so I encourage you to read the whole text (and its subtext, for that matter.)  It’s often in anthologies or you can read it online 4.

In my humble opinion, real life will mirror fiction in the current round of tax cuts. The cuts will kick in, and instead of Shangri-La, the end result will be that those who benefit most will in a relatively short time go back to complaining how much they’re taxed. Big business will still grouse that US corporate tax rates are too high. Businesses will reward their stockholders, their workers not so much, the deficit will rise, and that will be that.

I’m not anti-tax; I actually like having good roads. The thing that rankles me is that not only did the Republicans (not trying to be partisan here – let’s face it, the GOP owns this one) pass the bill, they tried to sell the American people an obvious fiction.  I would have had more respect for ‘em if they’d have said “Hey America, guess what? The beneficiaries of this legislation will mostly be Big Business and the top 1%!  Your kids will end up paying for the resulting increase in the deficit! We did it!  Hooray for us!” Had they done this, I would have respected ‘em more.  Not much more – maybe 0.000125 % more. But more, nonetheless.

  1. https://walberg.house.gov/issues/taxes-spending
  2. http://www.businessinsider.com/trump-tax-plan-analysis-tpc-gop-bill-text-2017-11?op=1
  3. https://www.forbes.com/sites/rickungar/2012/11/02/non-partisan-congressional-tax-report-debunks-core-conservative-economic-theory-gop-suppresses-study/#12928b2922e6
  4. https://docs.google.com/document/d/1s3hvkcwikiUJdgRxDTb3wS79DHhUpr3gkjwlu2BNr1o/edit?pli=1
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