Tax bill a boon for the wealthy
Once, I was told “Cheer up, things could be worse.” So I cheered up and, sure enough, things got worse!
For those readers who would like a summary of the Republican-controlled Congress’ 1,100 page “Tax Reform Bill,” here it is in a few sentences: Big tax cuts for big corporations and rich Republican donors; Eliminating health care for about 10 million citizens while increasing insurance premiums for many more. Doing very little for the middle class temporarily and higher taxes for the poor while increasing the national debt by about $1.5 trillion.
Then, to deal with the increased debt, the “plan” is to cut Medicare, Medicaid, and Social Security in 2018-2019.
Since it is known “trickle down economics” (i.e. cutting corporate taxes) doesn’t work (it failed under Reagan, Bush 43 and Gov. Brownback of Arkansas) and unemployment is already at a historical low, Trump’s campaign-promised new jobs will not materialize without monies for new employee additional special education and/or training.
In a sentence, the Republican-controlled Congress’ “Tax Reform Bill” is a huge monetary benefit to corporations, rich Republican donors, already rich Republicans (including Trump), and a stab in the heart to the middle class and the poor, with even worse to come to the middle class, the elderly and the poor in 2018-2019.
So much for political campaign promises to the gullible electorate?