Showing posts with label tax cuts for corporations. Show all posts
Showing posts with label tax cuts for corporations. Show all posts

Saturday, March 31, 2018

The Spreading Unrest of Red State Teachers


Red states have two main pillars of Republican Party governance: (i) slash taxes and governmental funding and (ii) prostitute yourself and the civil law to right wing Christian extremists. One area where these agendas merged was in slashing public school funding which satisfied the Christofascist party base's hatred of public education because - the horror! - it might educate students to the point where they might walk away from the brain dead, anti-knowledge worldview of the charlatans preaching from pulpits and/or television scamvagelists.  With the revolt that began in West Virginia - a state that is always the butt of jokes told by Virginians - seemingly now taking hold in other states, Republicans may find that they have awakened what may become a nightmare.  Just in time for the 2018 midterms and all of the state and local elections that piggy back with them.  The reality is that, if you value quality public schools - which are a key to maintaining property values and attracting new business and industry - you simply do not vote Republican. A piece in New York Magazine looks at the growing teacher unrest.  Here are highlights:
Eight Kentucky school districts — including those in Louisville and Lexington — are closed today as teachers stay home to protest the GOP legislature’s destructive “reforms” of their pension system. Oklahoma teachers are planning to strike on Monday despite winning a $6,100 pay raise. And Arizona teachers rallied at the state capital on Wednesday and are threatening to strike if their demands for major pay raises and restoration of education funding cuts are not met.
As this wave of unrest among teachers spreads nationally, it’s clear it has been inspired by the nine-day strike that won West Virginia teachers (and other state employees) a pay raise earlier this month. But there’s something more fundamental going on than copycat protests. We’re seeing a teacher-led backlash against years, and even decades, of Republican efforts at the state level to cut taxes and starve public investments. This is very clear in Oklahoma, where a quick pay raise the legislature passed this week is deemed by teachers to have missed the larger point: this investment alone will not undo a decade of neglect. There is still work to do to get this legislature to invest more in our classrooms. And that work will continue Monday, when educators descend on the capitol,” Alicia Priest, president of the Oklahoma Education Association, said in a Facebook video
The pay-raise bill signed by Governor Mary Fallin yesterday brought in $447 million in new revenues from higher taxes on cigarettes and oil-production facilities. But the teachers are demanding $3.3 billion “to restore millions of dollars in school funding that have been cut in the past decade. . . .
Similarly, in Arizona the teacher protests are not just about teacher pay, though they are among the lowest paid in the country. Their demands are much broader . . . . Teachers, who organized a grassroots campaign on social media, are demanding a 20 percent raise and restoration of school funding to 2008 levels, before the Great Recession struck, according to the Arizona Republic. They are also asking state lawmakers to stop cutting taxes until Arizona’s per-student spending reaches the national average.
[T]his collision is a reminder that GOP claims that tax cuts at the state as well as the federal level would pay for themselves by generating sustained economic growth have once again proved faulty, with public education being the primary victim of chronic budget shortfalls.
While Republican pols in Arizona and Oklahoma, like their counterparts in West Virginia, are backpedaling furiously and trying to prevent or resolve strikes, the conflict may go too deep for an easy resolution.
In Kentucky, teacher grievances are mostly focused on the pursuit by Republican governor Matt Bevin and the GOP legislature of another big conservative cause: public pension “reform,” which in this case meant serious reductions in benefits and a complete revocation of teacher pension security. That the “reform” was whipped through the legislature suddenly after being attached to a sewer regulation bill did not improve its aroma.
Perhaps the current wave of teacher protests and strikes will subside as the school year ends. But more likely, it will spill over into the election season this fall, when 36 governorships and most of the national state legislatures are up for grabs.
Come November, vote a straight Democrat ticket at every governmental level and send the GOP a strong message.

Thursday, November 23, 2017

Is Trump Leading Republicans to Slaughter?


It is Thanksgiving Day - a day for family and friends and hopefully a little bit of love for one's fellow citizens.  Yet even as families gather, Congressional Republicans are taking only a brief respite from the effort to harm countless middle and working class families and the elderly through a tax plan that benefits the very wealthy and large corporations. Most Americans oppose the plan and groups like AARP - which represents the most dependable voters - are condemning the savaging of Medicare and other social programs.   Der Trumpenführer - who estimates show might enjoy a billion dollar benefit - is of course supporting the effort and is supporting alleged child molester Roy Moore because Moore's vote is "needed for the tax bill."  A lengthy piece in Newsweek raises the question of whether Trump is leading the GOP to a slaughter.  I for one, hope that such is the case.  When I left the GOP as the Christofascists (and the white supremacy they brought with them) were ascendant I concluded that only the ruin of the party could excise the cancer.  Here are article highlights:
The prophet led the faithful into the jungle, where he promised they would find salvation. . . . That place was called Jonestown, a village hacked out of the jungle of Guyana. The Reverend Jim Jones did not manage to turn the settlement into the earthly paradise he’d promised his parishioners. In 1978, after a shootout that left visiting U.S. Representative Leo Ryan and four other members of a visiting delegation dead, Jones ordered his followers to perpetuate one of the most grotesque acts of mass murder in American history. “How very much I've tried my best to give you a good life,” he opened his final sermon, laden with dark grievance, as 900 people prepared for their deaths. “But in spite of all of my trying, a handful of our people, with their lies, have made our lives impossible.”
 Time now for the necessary and obvious caveats. Jonestown was a horrific act of homicide. No matter how much you dislike Trump, he is not Jim Jones. His impolitic tweets at North Korean despot Kim Jong Un notwithstanding, he does not harbor a death wish, either for himself or for the country. He probably has more compassion than his critics are willing to concede. And yet his influence on the party he now leads may well prove the political equivalent of Jonestown. Having assumed control of the GOP, Trump may now destroy it: its national infrastructure, its fundraising capacity and, most of all, its support from the American public. A Gallup tracking poll in early October found that only 24 percent of respondents identified as Republicans. That’s the lowest level of affiliation for the party in two years, a lack of popularity that is especially remarkable because Republicans control both the legislative and executive branches of the federal government. But whatever the case, the GOP appears to have made a fatal mistake in allowing itself to be seduced by his populism. All the glories of Trumpism will belong to Trump, while all the failures will be passed off to a hapless band he sometimes calls “the Republicans. “Republican leaders have made a Faustian bargain with Donald Trump,” says Will Marshall, founder of the centrist organization New Democracy. . . . . Attempts by others to mimic his convictions have been pathetic, transparent and unsuccessful. In Virginia, Republican gubernatorial candidate Ed Gillespie, a creature of K Street boardrooms, ran a campaign of Southern racial grievance and anti-immigrant fearmongering. He lost by 9 points to Democratic Lieutenant Governor Ralph Northam a few weeks ago. Many prominent Republicans believe their party has come to resemble the adherents of Jones, drifting ever further from reality. Trump, meanwhile, has shown no interest in reconciling the disparate factions of the GOP, hectoring leaders of his own party on Twitter as if they were obscure backbenchers . . . .
The GOP “will face obliteration in 2018,” says Republican strategist Steve Schmidt, who served as chief strategist on John McCain’s 2008 presidential campaign. When we spoke recently, Schmidt blamed the party’s fortunes on McConnell and House Speaker Paul Ryan, Republican of Wisconsin, a duo that he says “make Neville Chamberlain look like Churchill,” a reference to the British prime minister famous for capitulating to Adolf Hitler in the Munich Agreement of 1938.  “You were given the choice between war and dishonor,” Churchill said in response to Chamberlain’s cowardice. “You chose dishonor, and you will have war.”
Bruce Bartlett, who served as a senior adviser to Ronald Reagan, told me he wishes there were a Republican who’d utter a basic truth: “Our party is being killed by these idiots” in the Trump administration. And a few have, including Senators Jeff Flake of Arizona and Bob Corker of Tennessee. They have both chosen to retire, however, aware that their anti-Trump positions would likely engender a ferocious primary battle.
Bartlett thinks fears of electoral defeat shouldn’t discourage critics. “It’s better for us to lose power for a generation than to continue this fraud.”
Many Americans dislike Trump’s vision for the nation, but they like the Republicans’ vision even less. Only 17 percent of Americans supported the Republican efforts to repeal and replace the Affordable Care Act. While the Republicans refuse to enact any tougher gun laws, Gallup finds that 60 percent of American support stricter gun laws. The vast majority of Americans rejected the Republican tax cut plan, with support as low as 25 percent in some polls. . . . It fell to Bartlett, the former Reagan adviser, to admit that correlations between tax cuts and economic growth were “a myth.” But once you’re in the jungle, the way out isn’t easy. The vacated Republican seats may entice Bannon-funded candidates who are true believers in Trumpism. That could turn the marriage of convenience between DJT and GOP into a suicide pact. Insurgent candidates such as former Alabama chief justice Roy Moore, who has been accused of child molestation and sexual misconduct, could prove far more devastating than establishment incumbents who may not share Bannon’s nationalist vision but will maintain Republican majorities in Congress.
Speaking last weekend in Arizona, unaware that a microphone had been turned on, Flake admitted to a fear shared by most of his establishment peers: “If we become the party of Roy Moore and Donald Trump, we are toast.”
“It's increasingly hard to see how they recover from this,” says Charles Sykes, the onetime conservative radio host who has left the party and written about it in How the Right Lost Its Mind. “By pandering to the Trumpists, they have isolated themselves from the majority of voters. And this association with Roy Moore will be radioactive.”
Trump may do for conservatives what Stalin did for American radicals, forcing them to re-evaluate their convictions. The onetime eager socialists of City College in the century’s first decades became the neoconservatives who formed the backbone of the Republican Party through the George W. Bush presidency . . . . Trump may try to blame Democrats for this dour national mood, but voters aren’t likely to be fooled. “The Republican brand is shattered for the millennial generation and young people,” Schmidt told me. “It’s shattered for all time for Latinos, with African-Americans. And it’s shattered not because of Trump’s terrible behavior, but because of the absolute cowardice of the leaders of the Congress”. Richard Painter, who served as the ethics lawyer for George W. Bush, wrote on Twitter that he intends to remain part of the loyal opposition to Trump. “I am staying a Republican,” he wrote. “Will not let GOP be taken over by Russian collaborators, racists, pedophiles and outlaws. Will oppose all elected officials who do not stand up for the rule of law.”
In response to that tweet, someone replied with the image of a tombstone for the Republican Party. The cause of death, the doctored tombstone declared, was Donald Trump.

Thursday, April 27, 2017

Trump's Fairy Tale Tax Plan


Like House Republicans, Der Trumpenführer is utterly desperate to get some form of legislation passed and to change the topic of conversation away from Russiagate.  Whenever talk about his possible treason and collusion with a foreign enemy heats up, something is floated to distract the  media which continues to suffer from something akin to attention deficit disorder.  Trump's tax reform proposal is a case in point.  The fact that it is based on fairy tale claims and assumptions is not relevant so long as it changes the topic of conversation.  The "plan" also underscores that Republicans have learned nothing since 1980 when Reagan promised that tax cuts would pay for themselves.  They didn't and the deficit ballooned. An op-ed in the Washington Post by the director of the Congressional Budget Office from 2003 to 2005 eviscerates Trump's "tax plan."  Here are excerpts:
President Trump is correct to press for tax reform, correct to argue that corporate rates should be reduced and correct to look for policies that boost the United States’ anemic economic growth rate. But the “rough draft” of Trump’s tax plan, rolled out at the White House on Wednesday, falls short of being a real tax reform suitable to tax-cutting conservatives such as me.
Proposing trillions of dollars in tax cuts and then casually asserting that such a plan would “pay for itself with growth,” as Treasury Secretary Steven Mnuchin said, is detached from empirical reality. A real tax-reform plan would include specifics on how to broaden the tax base — not leave that hard work to Congress. A responsible tax plan would not ignore the threat of increasing a national debt that is already on an unsustainable course.
Accelerating the pace at which the federal budget bleeds red ink must be avoided, and building a tax plan based solely on the premise of future economic growth is dangerous. Sailing straight into a sovereign debt crisis is not a pro-growth strategy. What firm would want to headquarter in a country that is toying with financial meltdown accompanied by emergency austerity and tax hikes?
Typically, the Office of Management and Budget and the Congressional Budget Office analyze the economic growth potential of proposed policies through “dynamic scoring.” . . . . never has a dynamically scored analysis concluded that a proposal would “pay for itself with growth,” and no serious economist would make such a claim. At best, according to the prevailing consensus, the positive feedback effect from tax cuts would recoup in the range of 25 to 35 percent of the cost.
Real tax reform, however, takes on tough choices to broaden the base and is not built on implausible claims for the impact on growth. Congress has a rare opportunity to boost American competitiveness and productivity growth with a sensible tax-reform package. But that package must be built on realistic growth assumptions, not economic fairy tales.

Tuesday, March 28, 2017

The GOP's Biggest Loser on Healthcare Debacle: Paul Ryan

Delcan & Company; Photo by Al Drago/The New York Times
I and others have been making the case that of the Congressional Republicans perhaps the biggest fraud is Speaker of the House Paul Ryan.  His hypocrisy is almost unlimited, especially as he claims to be a dutiful Catholic out of one side of his mouth while at the same time pushing policies that are abhorrent from the perspective of the Catholic Church's social gospel.  For far too long, the media has give Ryan a pass on this breath taking hypocrisy.  Worse yet, many journalists have acted as if Ryan is a serious thinker and a policy expert.  The realty is that these images are empty and unsupported by objective facts.  If Ryan is expert at anything, it is at devising ways to take from the poor and middle class while give to the wealthy and then openly lying about the horrific impact of his policies on average Americans.  Thankfully, last week's American Health Care Act debacle may finally have the laudatory effect of showing the shallowness and cravenness - I would even argue moral bankruptcy - of Mr. Ryan.  A main page editorial in the New York Times does a wonderful take down of Ryan. Here are highlights:
“Look, I’m a policy guy.” That was Paul Ryan’s line before last Friday, when the health care bill he designed in secret went down without a vote, his own party showing what they thought of his policy.
Time and again when he was asked about President Trump’s attacks on immigrants or the courts, his ties to Russia or his claims of massive election fraud, the speaker of the House would say he was too busy working on his agenda, “A Better Way,” to think about all that nasty stuff.
That Mr. Ryan failed on the policy promise that Republicans have been running on for eight years makes it clear that if he is the policy wonk of the Republican Party, then the Republican Party has no policy. And with a health care plan that would have stripped 24 million Americans of basic care and drastically hiked premiums for people over 60, it seems that they don’t much care what Americans need or want.
The discrepancy between promise and reality should be no surprise to anyone who has looked at Mr. Ryan’s proposals over the years. Mr. Ryan has been rolling out grand pronouncements in bound volumes with fancy covers and snappy names, but the main message never changed: America‘s “path to prosperity” (remember that one? 2011) lies in tax cuts for the wealthy and corporations, and slashing social programs and regulations.
Three years ago, a House Republican leader said his report on antipoverty programs showed that “Paul Ryan remains our big-ideas guy.” We called it “a high-minded excuse” to “eviscerate programs like Medicaid, Head Start and food stamps.”
After Mitt Romney, with Mr. Ryan as his running mate, lost the presidential election in 2012, . . . . Mr. Ryan responded by repackaging the same agenda for the 2016 election, even though working-class Americans were demonstrating fury at his establishment orthodoxy. They didn’t want Social Security cut and they wanted the “health care for everybody” that Mr. Trump promised.
After seven years and 60 failed Republican efforts to “repeal and replace” Obamacare, Mr. Ryan finally got his moment, and blew it.
After pulling the bill, Mr. Ryan showed he hadn’t given up on trying to make people think he was someone they could believe in. With no detectable irony, he described his humiliating defeat as “an incredible opportunity,” adding “There remains so much that we can do to help improve people’s lives, and we will.”
But he’s fooling no one any longer. Put to the test, Mr. Ryan revealed that all along, he doesn’t have anything more creative in his cranium than stale conservative dogma.
He had helped fulfill a cynical prophecy delivered last month by John Boehner, . . . . . “In the 25 years that I served in the United States Congress,” Mr. Boehner said, “Republicans never, ever, one time agreed on what a health care proposal should look like. Not once. And all this happy talk that went on in November and December and January about repeal, repeal, repeal — yeah, we’ll do replace, replace — I started laughing.”
We might thank Mr. Ryan for one thing. His dreadful legislation drove voters of both parties to flood town halls and the Capitol, demanding that Congress reject the bill.
One can only hope that going forward, the media will recognize Ryan for the small minded phony that he is and give him media coverage that no longer aids the pretense that the man is a serious thinker.  

Sunday, March 26, 2017

The Real Reason Behind the GOP's Rush to Repeal Obamacare


There was in truth only one real motivation behind the GOP's thankfully failed Obamacare "repeal and replace" effort:huge tax cuts for corporations and the wealthiest Americans.   Yes, some of the most right wing Republicans are anti-government and want the government out of the healthcare arena completely, but the net effect of a total repeal with no replacement would be the same, namely huge tax cuts for corporations and the truly wealthy.  What I found so utterly dishonest was the GOP claim that tax credits would have allowed individuals the "freedom to choose the coverage best for them."  The reality is that the tax cuts were so inadequate that there'd be only one "choice" available - to have no coverage.  Even if working class individuals were relieved of all income tax obligations, in most instances, it would still not provide the funding needed for healthcare coverage.  The "replacement" offered also ignored the reality that many employees with coverage offered through their jobs fail to secure coverage for one reason: they cannot afford to add coverage for their spouse and/or children due to the expense.   

Like so much else in the GOP agenda, what Paul Ryan and Der Trumpenführer were peddling was one huge lie.  Voters well for it during the 2016 elections, but with every passing day, the abortion known as the American Health Care Act was increasingly recognized as a con job that would harm millions of Americans.  A piece in the Washington Post looks at why the GOP was in such a hurry.  It also suggests what any "tax reform" package offered up by the GOP will have as its underlying motive.  Here are highlights:
Why were Republicans rushing to vote on a health-care plan that they'd barely finished drafting, that budget scorekeepers hadn't had a chance to fully evaluate, and that, insofar as people did know about it, was widely despised?
In part, it's because their plan was so unpopular and because it got more unpopular the more people learned about it. But it's also because only by rushing to reshape a full sixth of the American economy without knowing exactly how they would be reshaping it would Republicans be able to use health care to pave the way for the rest of their agenda, including tax reform. In other words, the GOP didn't want to let a detail like tens of millions of people losing their health insurance get in the way of two tax cuts for the rich.
Here's what we knew about the Republican plan. The latest version that the nonpartisan Congressional Budget Office had a chance to analyze would have, over the course of 10 years, cut taxes by $1 trillion, disproportionately benefiting the rich; cut Medicaid spending by $839 billion, exclusively harming the poor and sick; and cut the Affordable Care Act's health insurance subsidies by about $300 billion, mostly hurting older people of modest means. Add it all up, and the CBO estimated that 24 million people would have lost their health insurance as a result. Not only that, but premiums would have increased 15 percent to 20 percent more than they otherwise would have in the next four years. . . 
This wasn't just a matter of higher premiums and higher deductibles, though. Trumpcare also would have repealed the “essential health benefits” that plans are required to cover now. States would have been allowed to write their own rules, so, depending on where you lived, insurance companies might have been able to sell you “insurance” that didn't cover hospitalizations, prescription drugs, maternity care, mental health care and preventive care, and also imposed annual and lifetime limits on your benefits. 
The surprising thing, then, isn't that as few as 17 percent of people approved of the American Health Care Act. It's that as many as 17 percent did.
But there's a reason the GOP was pushing a bill that would have taken everything people don't like about the health-care system and made it worse. That's the fact that it would have allowed them to pass two permanent tax cuts for the rich. Anyone, you see, can pass a tax cut that expires after 10 years. But if you want to make it last — and you don't have 60 votes in the Senate — then you need to find a way to pay for it (or at least look like you did). Taking health insurance away from poor and sick people would have done just that for the Obamacare taxes, which primarily hit people in the top 1 or 2 percent. 
[T]he combination of tax cuts for the rich and benefit cuts for the poor that was the GOP health-care plan would have been a reverse Robin Hood that redistributed income from people making $50,000 or less to mostly those making $200,000 or more.
If Republicans had repealed the Affordable Care Act's $1 trillion worth of taxes before they revised taxes, that's $1 trillion less they'd have to come up with to make it look like money wasn't being lost. Now, without those phantom savings, tax restructuring, Speaker of the House Paul D. Ryan (R-Wis.) admitted, will be “more difficult.” Not that it was ever going to be easy. After all, the $1 trillion they were trying to save with a “border adjustment tax” seems to be on political life support, since every major retailer, including big GOP donors such as Walmart, is opposed to it.
Republicans will either have to scale back their ambitions for how deeply they will cut taxes or how long they will. Whatever they choose, though, the top tax rate isn't going to stay under 30 percent.  And for the GOP, that's the real tragedy of 24 million people keeping their health insurance.
So why do working class whites who would have been screwed royally by the GOP "replacement" plan vote Republican?  For many of the rich, it is obvious: greed and self-enrichment via tax cuts.  But why the rest?  The answer is the same one that Republicans have used for many years now.  Appeal to racism and white nationalism, generate hatred due to loss of white privilege, use abortion as a snare for right wing Christians, and demonize those deemed "other."  It's the same method used over and over again by the GOP to get individuals to vote against their own best interests.  What's amazing is that so many are so gullible - or perhaps stupid is the better word - that they keep falling for the same ploy. When are these people going to wake the hell up? 

Tuesday, March 14, 2017

Trumpcare vs. Obamacare: Apocalypse Foretold


Not to beat a dead horse, but the CBO analysis of the impact of the GOP's "Trumpcare" proposal underscores the reality that today's GOP cares nothing about the majority of Americans.  Everything that the GOP does is aimed at one thing: tax cuts for the wealthy.  They claim to want to cut the deficit, but there's an easy solution to that issue: increase taxes on the obscenely wealthy.  Sadly, as long as the GOP controls the Congress and the White House, this will never happen. Worse yet, the GOP lead by Paul Ryan is out to gut Social Security and Medicare.  In short, the GOP goal is to destroy the social safety net and make wealth disparity even worse than it all ready is - the USA is now much like the banana republics of the 1950's where the masses will suffer while the wealthy live even more opulently.  A column in the New York Times looks at this reality that anyone sentient and not blinded by Fox News and other fake news sites should have seen coming.  The surprise is that anyone is surprised by the CBO's projections.  Here are column excerpts:
The Congressional Budget Office report on Trumpcare is out, and it’s devastating: 14 million people losing insurance in the first year, 24 million over time, with premiums soaring for older, lower-income Americans — in many cases, the very people who went strongly for President Trump. The C.B.O. thinks it would reduce the deficit, but only marginally, around $30 billion a year in a $19 trillion economy.
Let me offer one assertion and ask two questions.
The assertion is that something like this was to be expected. The C.B.O. came in even worse on coverage than most predicted, but it was obvious that the news would be terrible because that’s what the logic of the situation told us. Obamacare imposes a mandate to induce healthy people to sign up, offers means-tested subsidies to make insurance affordable and expands Medicaid to take care of people with really low incomes. Trumpcare eliminates the mandate, slashes subsidies overall and redirects them to those who don’t need them and sharply cuts Medicaid. Of course that leads to a huge drop in coverage.
Republican claims that they could do much better even while slashing funding so they could cut taxes on the rich were always obvious nonsense.
Now my questions: First, can this legislation still go through? I have learned never to underestimate the cravenness of Republican “moderates,” who may posture to the center but almost always cave to the hard right when it matters. But even so, it’s hard to imagine this act of cruelty getting 50 senators.
Second, what were Republican leaders thinking? Something like this C.B.O. score was a foregone conclusion; would it really have mattered much if it were 15 million losing insurance, not 24 million? How was this supposed to work out politically?
Again, I wouldn’t count out the possibility that this law will be rammed through regardless, with budget analyses relegated to the category of fake news. Democrats might even want to hope that this happens, so that there is no question about who to blame if insurance collapses. But the lemming-like way Republicans rushed into this disaster is still amazing.

Wednesday, April 08, 2015

Rand Paul’s Terrifying Vision for America

(Credit: AP/Jim Cole)
Rand Paul has formally announced that he is joining the GOP clown car of those seeking the GOP nomination for the presidency.  Paul's announcement follows that of GOP extremist, Ted Cruz, and as with Cruz, Paul's vision of America is pretty frightening, especially if one isn't one of the demographics favored by today's GOP: white, straight, selfish, greedy, and conservative Christian. Part of Paul's vision is a radical free market world that would be the delight of vulture capitalists but which ought to send chills down the spines of the rest of us.  A piece in Salon looks at Paul's Ayn Rand like vision for America.  Here are excerpts:
Sen. Rand Paul, who announced his candidacy on Tuesday, has offered up a detailed vision for how to change America: his “Economic Freedom Zones” plan, an exhaustive 50-page blueprint for giving the country a radical free-market face lift. The plan, which was originally introduced as legislation in 2013, was championed by Paul’s wife Kelley during his campaign announcement today, while the senator himself alluded to the bill as a centerpiece of his economic vision.

Paul’s big idea is to take the country’s most economically distressed places and use them as a laboratory for experiments in removing government and allowing hyper-capitalism to govern. Detroit is the candidate that leaps to mind, especially since Paul chose the old Motor City as the backdrop for his public introduction of the bill.

But while Detroit is the standout candidate for the “bankrupt or economically distressed areas” Paul’s bill aims to radically change, the criteria are written loosely enough to make vast amounts of the country eligible for so-called “economic freedom.” In the end, selection can be at the discretion of the Treasury Secretary, a presidential appointment. Cities, counties and municipalities don’t have to be in bankruptcy like Detroit but simply be “at risk of insolvency.”

This is not a carefully targeted experiment. Vast sections of the country could be targeted and made into these zones. . . . So what happens in these zones?

Well, for one, taxes for the rich are slashed to an insane rate of 5 percent. That goes for corporations, too: 5 percent. It’s 5 percent for everybody, basically, far lower than the already ambitious 17% flat tax he proposes for everyone else. Capital gains taxes are essentially nonexistent in the zones, and even payroll taxes are reduced substantially to 4.2% for both employer and employee. You might ask, “But isn’t that how Social Security is funded, through payroll taxes?” Yes, but the revenue lost by slashing social security inputs in the zones is made up by the rest of us, according to the bill. Because freedom.

Of course, if taxes just aren’t your thing at all, zone inhabitants of means can have their charitable contributions counted as tax credits, not deductions.

The Clean Air and Clean Water Acts are effectively made toothless and null in “Freedom Zones,” with crucial regulatory linchpins expertly eliminated in the bill. The Wild and Scenic Rivers Act looks to be toast as well. Also, any National Heritage Area, which includes our many Native American sites, lose any protection in a zone designated for “freedom”; they are now simply real estate.Paul’s bill embarks on an ambitious school privatization plan in the zones, because freedom for children is exposing them to the cold and indifferent winds of the capitalist market in their schooling.

Paul goes all in, priming the privatization pump by mandating that local school money–tax dollars–be funneled to for-profit schools if students choose to exit the public system. And predictably, up to $5,000 of tuition paid to a for-profit school is a tax credit, not a deduction, in the zone.

This is Paul’s vision. Senator Paul was serious about the bill. He enlisted Majority Leader Mitch McConnell as his cosponsor on the bill and noisily buddied up with President Obama–a risky move for a Republican hopeful–to lend credence to his zones idea. Paul’s pre-campaign has already been a cringeworthy series of clumsy rhetorical reversals on his more extreme views. But no amount of focus-grouped campaign rhetoric can erase a 50-page, detailed outline of his economic vision.

Be afraid - very afraid.