By Jason Taylor
Can we stop calling it a “tax overhaul” and be specific about what Trump and his minions want? It’s a tax cut for the wealthy, specifically a tax cut that will benefit trump, his family, and the trump organization.
There is no reason to touch the tax code whatsoever unless it’s to raise the rates on the wealthy or to close absurd loopholes that allow major corporations to pay zero in taxes after all of the deductions. This is going to be nothing but another round of trickle down poison, wrapped in the usual Republican hysterics about “creating jobs” (it never happens) and eliminating the estate tax on behalf of all of those poor farmers (less than 2% of all estates, by the way).
I just hope the Democratic leadership isn’t so stupid as to think Trump’s fake bipartisan stunt last week means anything. This is, as Clinton said, nothing but “Trumped-Up Trickle Down.”
What will the average American get in return for tax breaks? Will corporations pay what they are supposed to pay or exploit every loophole they can so as to keep all their money for themselves? Will Americans see better jobs that have benefits and decent pay? Or will we see our infrastructure and public spaces neglected the way they are now?
I’m tired of hearing how tax cuts will stimulate the economy. I’m sick of being told that corporations are too highly taxed in America when I know that a good many of the largest ones pay little or nothing or get refunds. I’m tired of supporting the ultra rich. I’m tired of hearing how anyone can get rich in America if they work hard enough. It’s not true, not with how little we get for the taxes we pay and we pay less than most citizens pay. It shows in how little we get in services.
Government is not the enemy. The enemy is the GOP or any politician that takes our money, refuses to work for us, shuts down the government, and then lies to us. The tax code needs to be amended and certain loopholes that favor the ultra rich and corporations eliminated. But giving out more tax breaks is not called for unless the bulk of them go to working Americans who are supporting the country because they have no way to hide their income.
Probably the most sinister element of Trump’s agenda is this so-called “tax reform” or “tax overhaul”. We’re heard absurd lamentations from the Trump administration about how banks are strangled by regulations (while our economy sits at a 4.5% unemployment rate and banks are making more money than ever) and about how corporate America can’t create jobs due to the ghastly corporate tax rate in America (while our economy sits at a 4.5% unemployment rate and the Fortune 500 are making more money than ever). It’s pure evil to make such claims, and pure insanity to believe that this so-called tax overhaul is anything more than a gift to wealthy Americans.
The planned corporate tax break is a gift to stockholders and dropping the personal tax rate is a gift to those who earn millions, if not hundreds of millions of dollars per year. Neither will do anything to impact our economy in a positive way. Rather, they will hurt our economy by, once again, routing money to the wealthiest among us at the peril of those with the least among us. We shouldn’t be talking about tax breaks. We should be talking about a national $15-per-hour minimum wage. A $15-per-hour minimum wage would allow the rich to get richer, while the poor are greatly helped along the way. Wealth does not trickle down through tax breaks. It trickles down through higher wages at the bottom of our economic ladder mandated by law. Period.
The wealthy and greedy are in charge and they mean to make more for themselves. Where do the funds come from to help those people that have been devastated by the Hurricane’s? insurance? How about taxes? Many people didn’t have flood insurance and will need FEMA loans to rebuild. Even with those loans, their finances will be stretched thin. While this is going on Trump, Mnuchin, and their wealthy buddy’s will be getting richer. This Tax code reform is the real motivation/meaning behind “Make America Great Again”.
This is why Trump ran for President. To feather his own nest through Tax Code reform. Helping the people that can help Trump financially. Something is going to give. Either the nations debt, the Flood Insurance Program, or the victims of the storms. Trump and Mnucin and their ilk are going to be just fine. They know how to take care of their own.