“Tax reform” plan?
As the specifics of the GOP’s current “tax reform” plan emerge, it becomes clear that this plan would primarily benefit America’s wealthiest citizens and corporations at the expense of working Americans, the middle-class, and the poor, which seems to be a central and unending goal of the Republican Party. One cannot help but wonder about the reasons for this, although if one were to “follow the money” here, it’s hard to imagine that it would not lead back to multiple ultra-wealthy and corporate sponsors expecting profitable “payback” for their investments. But then maybe that’s just me being overly cynical?
They justify this by repeating the now thoroughly discredited “trickle down” theory, despite there being no evidence that tax cuts for the wealthy and corporations actually result in increased jobs and wages as claimed – as became quickly evident soon after this was first tried over 30 years ago via “Reaganomics.”
They bemoan the supposedly “way-too-high” statutory tax rates for corporations which they claim result in many of them moving overseas, but seem selectively blind the the reality that, with the wide array of tax loopholes available to them, the effective/actual tax rates for these corporations are actually quite comparable to those of other nations.
They highlight the relatively small and temporary tax reductions for most middle-class Americans included in their plan – neglecting to mention that these tax reductions would expire (resulting in increased tax rates for these Americans) while those for the rich and the corporations would be permanent.
They brush aside any concerns about the $1.5 trillion hole which would be blown in the national debt as a result of this tax plan (odd how the Republican “deficit hawks” and their “party of financial responsibility” suddenly fall silent on this issue now, isn’t it?), but neglect to mention the upcoming cuts in our nation’s vital “social safety net” programs (e.g., Medicare and Social Security, which are earned benefits which we all pay for, not “entitlements”; and Medicaid, designed to help our neediest citizens) which would inevitably follow. Perhaps not that surprising, given that the GOP has consistently fought such programs, which were designed to help working Americans as well as our nation’s neediest citizens, since their inception.
So don’t be fooled by this sales pitch. This is what they are counting on.
Dale E. Buonocore,