Oh, and the stronger dollar would also mean much bigger trade deficits — a consequence of tax cuts that Republicans, strange to say, haven’t advertised, even though the same thing happened during the Reagan years. So we’re talking, as always when it comes to Republican plans, about tax cuts heavily tilted toward the wealthy. Instead, it would be a windfall to wealthy foreigners, who would probably gain a lot more from the tax cut than U.S. workers. The resolution doesn’t have the force of law, but it’s a pretty clear indication of what’s next if the big tax cuts pass. Now, it may sound extreme to say that Trump and his allies want to take away health care from millions largely so that they can give wealthy foreigners a $700 billion gift.

Source: New York Times October 26, 2017 23:03 UTC