Third, most Americans will have to pay higher interest on their car and mortgage loans and other money they borrow, because the huge tax cut will explode the national debt.
That debt is now around $20 trillion, or 70 percent of the total economy. If it goes much higher, it will crowd out borrowing and force interest rates upward.
Putting all this together, the theft would be the largest redistribution from the bottom 90 percent to the richest 1 percent in history.
Republican's biggest fear is that word of the heist will leak out to the public, and their tax bill will be defeated by a handful of Senate Republican holdouts who feel the public pressure.
That's exactly what happened with their plan to repeal the Affordable Care Act. The GOP's big-money patrons pushed for repeal not because they had any principled objection to the Act, but because they didn't want to fork over $144 billion in taxes on incomes over $1 million to pay for the Act over the next decade.
In the end, Republicans couldn't get away with it because Americans learned that more than 23 million people would lose their health coverage, and Medicaid would also be on the chopping block.
Trump was willing to distract the public's attention to give congressional Republicans a shot at repeal, but the moment the public started catching on he blew their cover. After the Congressional Budget Office announced the consequences of the Republican health bill, Trump called it "mean."
He could do the same with the tax bill. He almost has. When word leaked out last week that Republicans were planning to limit 401(k) deductions, Trump tweeted that it wouldn't happen (and then backtracked on his tweet).
The moneyed interests who run the GOP depend on the Trump bomb to divert attention from their huge heist. Their challenge is to make sure the bomb doesn't go off in the wrong direction.
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