To get a better take on the matter of the Republican tax reform proposal, I watched CSPAN coverage of the financial committee instead of the usual Sunday football games.
Personally, I lean towards conservative thinking when it comes to fiscal responsibility. I don’t like our government spending money it doesn’t have.
We, the middle class, have to borrow and pay back with tremendous interests rates (approximately $300 billion a year) just so the very wealthy can get a tax break. In a booming economy, like we have had for the last eight years, it is absolutely unnecessary to borrow more money to stimulate the economy which doesn’t need stimulating.
Little doubt that we are being misled, or more charitably, lied to. Why are these so-called conservatives in Congress supporting a proposed tax cut for the wealthy that will reincorporate trickle-down economics by increasing the deficit? They talk about a tax break for the middle class, (oh, ever so slight) and they are lying.
In a booming economy, like we have had for the last eight years, they can reduce the national debt but won’t do it if Congress lowers the corporate rate from 35% to 20%. It’s our country’s only chance to really do something good for the economy and the country. It’s the Republican Party’s chance to do good.
Will the Republicans do the right thing or will they borrow more money then blame the Democrats in a few years for messing up the U.S. economy. Same old political game folks.
They say it is necessary because the US has the highest corporate tax in the world and that we are non-competitive. What they say is very misleading. Yes, the actual corporate tax rate is 35% but what they don’t tell you is that effectively the rate only is 18.6% due to the many varied deductions and write-offs in our current corporate tax code, which makes our country very competitive in the world.
This proposal is nothing more than a trillion dollar tax break for the super wealthy, who own 95% of the corporate wealth in the U.S.
Congress says they make up these tax cuts by borrowing more from the national debt. They will increase the public debt to cover this tax decrease for the wealthy by 1.7 trillion dollars.
All Americans (mostly the middle class) will have to pay it back… plus interest. Just the interest alone is currently costing US taxpayers approximately $300 billion a year.
Those that vote for this farce are supporting the very wealthy and doing a disservice to our country at the expense of all Americans.
I urge all Americans to not to pay attention to the 30 second sound bites of lying politicians who stand to gain political favors from the super-rich, but to really pay attention from various sources to learn the truth.
The proponents say that will make our economy stronger and create more jobs. They tried this before under the W. Bush administration which lead to a near economic collapse. How? We can’t even fill the jobs have now at 4% unemployment and Trump even wants to cut legal immigration in half.
The tax cuts as proposed would add billions to the wealth of the Koch brothers Corporation and even add a billion dollars to the Trump Company for Donald Trump Jr. to enjoy.
Don’t let them feed you any more lies my friends. We must hold our federal representatives accountable.