The permanent corporate tax cuts and other cuts benefiting the wealthy, combined with only short-term benefits for the middle class and measures that increase the cost of health insurance for those lucky enough to have it, lead to a result that the American public well understands — a tax bill designed for the rich.
Many temporary provisions expire by 2027, so much so that — shockingly — more than 100 percent of the net tax cuts will go to the top 20 percent.
A more insidious way that this tax bill increases inequality is that it’s not paid for; it adds more than $1 trillion to the national debt over 10 years. Supporters are not waiting for the ink to dry before making clear how they intend to pay for it — by cutting programs important to middle- and low-income Americans.
“Welfare reform” and “entitlement reform” mean cuts to Medicaid, Supplemental Security Income, nutrition assistance, Social Security disability insurance and, potentially, Social Security retirement and Medicare. This is in addition to continuing cuts to domestic discretionary spending, such as education, housing, transportation, medical research and other programs vital to the well-being of average Americans and to long-term growth.
President Trump reportedly told friends at his Mar-a-Lago resort in Florida just hours after he signed the GOP tax bill that they all just got wealthier.
"You all just got a lot richer," Trump said Friday at a dinner at Mar-a-Lago, two friends at a table near the president told CBS News.
1 comment:
Along with impeaching & JAILING the asshole and his family, Dems need to open investigations on numerous republicans who've assisted in the obstruction of justice.
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