Today, Michael Bloomberg took to, well, Bloomberg to excoriate the Republican tax overhaul bill.
The largest economic challenges we face include a skills crisis that our public schools are not addressing, crumbling infrastructure that imperils our global competitiveness, wage stagnation coupled with growing wealth inequality, and rising deficits that will worsen as more baby boomers retire.
The tax bill does nothing to address these challenges. In fact, it makes each of them worse.
The billionaire goes on to describe how the proposed bill makes all these things worse–giving more money to the rich, while hindering the poor and middle class, local infrastructure, and necessary social aid programs. The former New York City mayor and onetime Republican minces no words: “The tax bill is an economically indefensible blunder that will harm our future.”