01 August 2018

Officially Insane

Proving once again that Donald Trump's repeated claims to be "for the little guy" are giant festering lies, his administration is now considering a $100 billion tax cut that would go mainly to the wealthy (details here). Because of legal reasons, the action would be considered unilateral and thus not require congressional approval.

This is officially insane. Trump and his Republican enablers recently passed a tax cut that primarily benefitted the wealthy, with more than 90 percent of the tax cuts going only to the highest earners. That is now adding to the national debt and the deficit at a record date.

But now Trump wants another unfunded tax cut, this one even more skewed to the rich. The national debt would grow even higher at a faster and faster rate.

And, yes, this tax cut would be a huge windfall for Trump himself because it would change how capital gains on real estate transactions are calculated.

This is offically insane. Trump cares not a whit for the little guy. He wants to saddle that little guy with an even larger national debt while handing himself a huge tax cut.

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