The Republicans have controlled the house for just two weeks (and still have a minority in the Senate), but when new job numbers came out that show the economy is growing and unemployment is falling, that didn’t stop the GOP from trying to take credit.
Senate Minority Whip Jon Kyle (R-AZ) claimed that soaring corporate profits in 2010 were because of the passage of the tax cut compromise at the very end of last year. And House Rules Committee Chair David Drier (R-CA) says:
We can get our economy growing. And we’ve gotten some positive numbers. I think it’s in large part because we won our majority and we’re pursuing pro-growth policies.
What policies? The new Congress hasn’t enacted any major economic legislation at all. And corporate profits went up because corporations knew they would magically get future tax cuts at the last minute? Huh?
As TPM puts it, this is a “theory of economic growth that requires assuming the existence of a time machine.”
Meanwhile, the Republicans are making it clear what their “pro-growth policies” actually look like — corporate socialism and welfare based on which big companies donate the most money to Republican politicians. Plus even more tax breaks for the richest 0.2% of Americans. In fact, in the last two weeks the Republicans have introduced an astounding five separate bills that repeal the estate tax entirely, even though last month Congress passed a bill setting the estate tax to a relatively low top rate of 35% with a generous $5 million exemption per person.