Tax Scam

The GOP and Donald Trump have been falling all over themselves promoting their tax cut plan. Numerous polls have shown that the public is strongly against the proposed bill because the cuts go primarily to the very wealthy and large corporations.

To this end, New York magazine published an article earlier this week (link here) documenting how the richest one percent of Americans will get half the tax cuts. And The Washington Post ran an item (link here) about how primarily the idle rich, as opposed to the working wealthy, are the ones who benefit most of all.

Trump repeatedly said he would not benefit from the tax cut, which I've already demonstrated on this blog is a blatant lie. His children, as well, stand to gain a whopping $600 million windfall if the bill passes, thanks to the proposed cuts (details here).

Anyone who has sat through an economics class will tell you the time to cut taxes is when the economy is in a recession. The time to hold steady or raise them is when the economy is strong, like it is now, thanks to President Obama's administration.

When Obama first became President and the economy was in one of the worst recessions in modern history, thus tax cuts were badly needed, Republicans on Capitol Hill wailed about how they would increase the debt. Now that tax cuts aren't needed, the GOP is perfectly happy to explode the debt to give even more tax cuts to the very wealthy.

This is the same strategy the GOP followed during the George W. Bush administration, when the debt was exploded to pay for tax cuts that went primarily to the rich. These tax cuts for the wealthy were a contributing factor to the deep recession which followed a few years later.

The current GOP tax cuts would add trillions to the debt (details here). We all will be paying for this tax giveaway to the rich for years, if not decades.

If you haven't already called your members of Congress to tell them "vote no" on this tax garbage, now is the time to do it. Contact information for your senators is here and for your House members here.