I am sitting here reading through a few blogs and trying to decide if anything is on my mind worth writing a post about. Trump's one page tax reform is reminiscent of Reagan's policies. The rich will get a bigger break than the middle class. 7 levels of taxation will be reduced to 3. Most middle class people will go from 15% up to 25%. Most wealthy people will go from 39 down to around 35 and the corporate tax breaks will be even larger. The rich will save millions! Try and forget the President and all his children and all his friends are multimillionaires!
All this because Trump is convinced that tax breaks for the rich will stimulate the economy and create jobs. Republicans always believe that. While it is true that Reagan created substantial job growth, he also increased the national debt by a larger margin than any other President. Vice President Pence has already admitted that the debt will increase "initially". Yes, it will! By trillions and trillions of dollars.
Can't wait to see the 200 foot tall sign over the Grand Canyon advertising a Boner Pill when the National Park Service is disbanded and the National Parks are turned over to corporate business! Can't wait to see the advertising on El Capitan at Yosemite! A big sign behind "old faithful" at Yellowstone that says "Budweiser! The King of Beers". The pillaging has already begun. Somethings should remain off limits but if there is a buck to be made forget that!
Supposedly the increase in workers paying taxes will eventually cause the debt to start going back down. It won't. Will never, ever happen. Most legitimate economists will agree. If every eligible American had a job and paid 25% tax on his income, that revenue wouldn't come close to offsetting the tax breaks that are being given to the Super Rich. To put it in simple terms-It is a gigantic lie!
Oh, things will get financed and built, jobs will increase, the infrastructure will be repaired. Yes, all that is true. But it will be paid for with borrowed money YOU will be responsible for paying back. The rich will get richer, the middle class will get poorer and the poor will starve to death! But the bridges will get fixed! The National debt everyone bitches about will reach 30 trillion dollars and it will be blamed on the tiny sums spent on the poor.
Oh well, another day in the Land of the Free!