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Posts Tagged ‘Trump Tax Cuts’

Rumination on the Trump Tax Cuts

Congress has passed the Trump Tax Cuts. The current administration and cabinet are the wealthiest in history. Our middleclass and poor have elected a government of billionaires and a president who has not published his own tax returns.

Now they have passed a tax reform that is a dramatic shift of wealth from the poor and the middleclass to the very rich and to corporations. And the Trump voters are somehow happy with this. They are told that this is good for the country, and they appear to believe it. The cuts for the wealthy and for corporations are permanent. The cuts for the middle class are temporary and small.

Congress makes it out to be adding “only” $0.448 trillion to the debt. Analysts claim numbers between half a trillion and $1.5 trillion, depending on whose numbers you want to trust.  That assumes that the current bubble of the stock market will continue to remain intact for a decade, which, of course, it won’t. Long after Trump is gone, and long after the current GOP Congress has been voted out, the middle class will still suffer, and the rich will still get richer, including the Trump clan. What a genius con, and Trump voters seem to be okay with that.

After slamming Obama for adding to the debt for many years, all of a sudden the debt does not seem to matter so much. Wait, however, for the next action of Congress, after the tax cuts are signed into law. Then, suddenly, they will be worried about the debt, and they’ll be all too eager to slash those pesky “entitlements.” They mean the Social Security I have paid into for 40 years, our money they have borrowed in previous years to keep up military spending. Suddenly, they will need to cut Social Security, and subsidies for medial insurance, to make up for the money they just gave to the rich and to corporations.

I might add here that I myself am the CEO of a corporation and the cuts to the corporate tax rates will result in significant benefits over the upcoming years. My company will benefit by putting the burden of more debt on my children and grandchildren, decades down the tunnel of time. Long after I am gone, my descendants will be paying for the debt created by Trump and his ilk.

I cannot speak for all companies. However, I can assure you that less tax payments are not affecting our expansion plans or hiring strategies. These factors are driven by market conditions, not by how much cash we have in the bank.

Even though we’re all getting a small tax relief in the next few years, I consider it immoral that our current kleptocracy has the audacity to suck up our current resources, without fixing the core problem of massive overspending on the military, and putting the burden on future generations of Americans.

We are no longer a democracy.

And to top it all off, the current populace seems happy with all that.

Thievery, it is!

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