Tax cuts > democracy
January 23, 2024 Leave a comment
And to stick with a theme, it’s not just extreme cowardice that brought us to this point, it’s extreme greed as well. I don’t know how else to characterize people being so damn cavalier about democracy in their desire for ever lower taxes. Loved this in Yglesias‘ recent mailbag:
One thing that has genuinely changed is that an American business community that was pretty wary of Trump during his term in office has looked at Biden and remembered that Democrats favor higher taxes and tougher business regulation and Republicans don’t. Biden, for example, is cracking down on abusive bank overdraft fees. You might ask yourself “what kind of person would throw in with fascists just to avoid government regulation of abusive bank overdraft fees?” But that is, in fact, exactly how right-wing authoritarian movements come to power: Rich people decide that right-wing authoritarians will help them have more money.
Back in 2020, I think a lot of these business-type Republicans hoped that Trump losing would bring back the old version of the GOP that they liked more. But Biden has both gotten more done than they thought he would (which to them is bad), and it’s also clear that the old free trade GOP isn’t coming back, one way or another. So you may as well back the guy who promises you tax cuts.
Of course, as is often the case, greed makes people short-sighted. Businesses perform better in flourishing democracies, not quasi-authoritarian states like Hungary. But, of course, all the “lower my taxes” people like to just ignore the overwhelming evidence of Trump’s threats to American democracy because it is far more mentally convenient to do so. If I were going to get a tattoo of a quote– and to be clear, I never will!!– it would be this from Upton Sinclair: “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
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