Skip to main content

Why are the billionaires always laughing?

Because they know the corporate media will never call bullshit on their bullshit.

Speaker of the House of Representatives Paul Ryan, Republican of Wisconsin, holds up a pint of Guinness as he proposes a toast during the Friends of Ireland luncheon at the United States Capitol March 15, 2018 in Washington, D.C. (Photo: Alex Edelman-Pool/Getty Images)

With 'Longtime Dream' of Tax Cuts for Billionaires Fulfilled, Paul Ryan Won't Seek Reelection

"Friends say that after Ryan passed tax reform, he was ready to step out of a job that has become endlessly frustrating, in part because of President Trump."

Jake Johnson

Having successfully rammed through tax legislation that massively rewards America's billionaires—including his long-time patrons Charles and David Koch—and sets the stage for his ultimate goal of obliterating the safety net, House Speaker Paul Ryan (R-Wis.) is reportedly set to tell his staff on Wednesday that he will not run for reelection in 2018.

First reported by Jonathan Swan of Axios and confirmed by numerous other outlets, the news comes after rumors had been swirling for months about Ryan's possible retirement from Congress. It also comes as a popular progressive candidate—Randy Bryce, aka "The Iron Stache"—is quickly gaining steam, outraising the corporate-funded Ryan by nearly $2 million in the first three months of 2018.

"House Republicans were already in very tough spot for midterms, with many endangered members and the good chance that Democrats will win the majority," Swan noted in his report on Wednesday. "Friends say that after Ryan passed tax reform, his longtime dream, he was ready to step out of a job that has become endlessly frustrating, in part because of President Trump."

In his last tweet before reports emerged that he is retiring from Congress, Ryan celebrated President Donald Trump's executive order on Wednesday that calls for more punitive work requirements for recipients of Medicaid, food stamps, and public housing assistance—an plan Republicans have celebrated as "Welfare Reform 2.0."

Reacting to the new reports on Wednesday, The Nation's John Nichols argued that Ryan's retirement "would be a devastating blow for congressional Republicans."

"Ryan would not merely be giving up on his own profound ambitions, he would be giving up on the notion that the party he’s devoted his career to remains functional," Nichols concluded.


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Don't Exist.

AOC Warns That Corporate Lobbyists Would Love People to 'Give Up Before the Deal Is Done'

"It's way easier for them to try to get away with the things that they're lobbying for and against if people at home aren't watching," said the New York Democrat

Jon Queally ·


Tlaib Leads Call for Biden to Take 'Commonsense Steps' to Aid Afghan Evacuees

"Our country has long offered shelter to those seeking refuge from catastrophe. Now is the time to continue that tradition and stand beside Afghan evacuees in need."

Jessica Corbett ·


'Huge Win': Green Groups Applaud Biden Move to Protect Minnesota Watershed

"You don't allow America's most toxic industry next to America's most popular wilderness," said one environmental campaigner.

Brett Wilkins ·


Taking Aim at Predatory Equity Firms, Warren Leads Bill to 'Stop Wall Street Looting'

"Now is the time," asserted Sen. Bernie Sanders, "to end Wall Street's greed, protect workers, and create an economy that works for everyone, not just the 1%."

Brett Wilkins ·


Arizona Groups Demand Sinema 'Stop Obstructing' on Medicare Expansion

The diverse coalition called on the Democratic senator to back "bold drug pricing reform" and "critical improvements to Medicare's coverage" in the reconciliation package.

Jessica Corbett ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo