On the show Morning Joe, economist Steven Rattner showed in one dramatic chart the difference between Donald Trump’s “rescue plan,” which was really a giant tax scam for the wealthy, and the Biden American Rescue Plan, which actually helps everyday people.
As was pointed out over and over, the “Tax Cut and Jobs Act” didn’t create any jobs, and funneled most of its money to people who didn’t need it. And, even the small amounts on the lower end of the scale are in the process of going away.
The American Rescue Plan, on the other hand, sends the bulk of its help to people at the bottom end of the economic scale – those who have been most hurt by the economic slowdown cause by the pandemic.
As Rattner pointed out, these two bills are further evidence of two different views of government and its role. The Republican approach to the economy has devolved over the years to one thing: tax cuts. Democrats, on the other hand, believe investing in the country is the best approach, and will ultimately yield more value.
As Rattner says in his article, Biden’s plan “reinvigorates the belief that government can solve problems by acting in a more muscular fashion.” This approach to governing is in sharp contrast to the Reagan-esque mantra that “government is the problem.”
As we recover from the twin crises of a pandemic and a recession, the biggest problem would have been inaction by the federal government. Instead, we have an administration that is taking an activist approach to attacking the problems we face … and is focused on ALL Americans, and not just those at the top.
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