All Republicans do is talk about tax cuts. When they do, you can bet the house that they are referring to tax cuts for the wealthy, like most Americans who vote Republican. President primate’s tax proposal is no exception. It is another of step in his long con game to fleece Americans who voted for him and those of us who didn’t but have to hold our noses while we wait for him to be impeached.
This NY Times editorial gets to the heart of the matter right from the first paragraph. It says, “…the skimpy one-page tax proposal his administration released on Wednesday is, by any historical standard, a laughable stunt by a gang of plutocrats looking to enrich themselves at the expense of the country’s future.” The proposal is a joke but no one seems to be laughing except the millionaires and billionaires who would benefit from it.
The reality is that the country’s national debt will never be paid off. It is an astronomical number. Any talk of reducing the national debt it just hot air. Man will have colonized Venus and mars before the national debt is reduced by a noticeable amount. To Republicans adding to the debt supposedly stimulates growth. In truth the only stimulation debt provides is to the stomach acid of regular folks who see their income stagnate while their tax burden increases.
The Times editorial goes on to say, “To hear the administration tell it, the present rate is choking investment and killing jobs. In fact, big businesses are earning record profits, and many of them pay no federal taxes. The corporate income tax brought in just 10.6 percent of the federal government’s revenue in 2015, down from between a quarter and a third of revenue in the 1950s, according to the Pew Research Center.”
Huge corporations like GE pay little or no income tax. They have armies of accountants whose only job is to find ways to dodge taxes. The lie about “choking investment and killing jobs” is another favorite GOP talking point. All one has to do is look at the unemployment rate to see that the economy is a near-full employment. Of course better jobs are always possible. However, this administration is choking off those opportunities by starving programs for job training and investment in renewable energy, an economic engine that the fossil fuel industry wants to squash.
The S&P 500, the NASDAQ, and the Dow Industrials average are at all time highs. Their performance would not be on a years long roll if taxes were killing investments. The fact is that large companies are multinational with many relying on overseas markets to provide the bulk of their sales and profits. Yes, some of those companies are dodging US taxes by stashing profits in overseas subsidiaries. A short-term tax holiday to repatriate those funds and taxes is better than a permanent corporate tax cut. The debt will only continue to grow if the proposed tax plan is implemented. Growing the debt is one of the few accomplishments that Republican administrations can point to, if they were honest.
Remember the uproar about Mitt Romney’s pass-through income from his time as leveraged by out vulture. Trump’s proposal, “…would also apply that 15 percent tax rate to pass-through income that business owners get from limited liability companies, a change that would directly benefit real estate developers like him. This would also create a huge incentive for wealthy Americans to turn their earnings into pass-through income in order to avoid paying higher personal income tax rates.” I don’t know about you, but I don’t have any pass-through income. Its only people like Trump who can take advantage of it. And like everything Trump, it is a con man’s dodge.
Let’s all do our part and tell our Congressional representatives that we will not stand for another tax cut for the wealthy funded on the backs of average Americans. Let’s also hope that there are enough GOP lawmakers with the courage and conscience to stand up for what’s best for their constituents and for the country.
Trump and his plutocrats talk about having the best interest of the average Americans. Their proposal blatantly says otherwise. As the editorial states his sympathies aren’t with the average person. They are with him; his family and those just like them. It is ridiculous to think that this man would ever be able to relate to or do what’s best for the average Joe.