“Great for the middle class, great for the USA!” That sentence probably shouldn’t be involved when you’re talking about a pandemic, especially if you happen to be a world leader – but it’s what Donald Trump decided to tweet Monday night when he urged House Democrats to help implement a payroll tax cut.
Being just a tweet, you might be inclined to think this is just some strategy on his part to cost Democrats the House, should they be so foolish as to think this is a good idea and come up with legislation, but no, it actually confirmed what previous reports were saying, something that Steve Mnuchin further clarified when he spoke at a House hearing on Tuesday morning.
This basically confirms why we thought Mnuchin was appointed to the COVID-19 task force in the first place – to make sure that whatever happens, Trump can still run for re-election on what the stock market looks like. This is in addition to the Federal Reserve’s emergency interest rate cuts to minimize panic. So far, the idea hasn’t worked as he planned, with the market mostly staying in the same place it was when it closed on Monday.
Mnuchin has also admitted that the last tax cuts passed in 2017 didn’t stimulate the economy nearly as much as the GOP had hoped for. We’re long past the point that this administration has proven itself incompetent – not only at a loss of ideas that might work, but they’re out of evil ones as well.
James Sullivan is the assistant editor of Brain World Magazine and an advocate of science-based policy making