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[Icky Thump]

Originally Posted by Greedy,Greedy,Greedy

So looking at the way votes are lining up, it looks entirely possible that they'll get some disaster of a tax bill through the House, and that there are Senators who can be bought on this one, unlike ACA.

It strikes me that leaves us with the traditional approach of the last four administrations: Republicans get in office, crash the economy by applying their ideological litmus tests, Dems get back in and fix it.

The difference here is that (1) we may not get a Democratic pragmatist in the form of Obama or Bill Clinton, and (2) that this particular Republican cycle is likely to see a massive outflow of working capital given the international provisions of the bill. (Nominal capital may remain here since people will use debt to formally repatriate profits while rates are low, while keeping the money at work elsewhere). Don't get me wrong, (1) may be a good thing, there are some fundamental changes I'd like to see in economic policy taking us well to the left of where Obama and Clinton were willing to go. But (2) may create work for me, but it's gonna suck for the country.

Word is (from a pretty good source) that Howard Schultz is considering it.