No if's, and's or but's — tax plan is bad for middle class
Nov 28, 2017 | 1:10 PM
In discussions of GOP tax reform, you might hear Speaker Paul Ryan throw around terms like "repatriation" and "inversion" or compare a worldwide tax system to a territorial tax system. Here's what all these tax terms mean.
Although I can agree with some of what Robert C. Erlandson said in his recent letter to the editor, I must vehemently disagree with any assertion that the Republican tax plan is an overall step in the right direction (“GOP tax plan is a step in the right direction,” Nov. 27). Such a claim suggests folks in Washington are out of step with the people they represent and what those people want and need.
The problem this bill should be attacking is the widening gap between the “haves” and the “have-nots,” as a country cannot survive without a strong middle class. So what does this bill do? It does away with most of the middle class deductions and leaves the billionaire tax shelters completely untouched. This will drive the wedge deeper and make the disparity greater just as Ronald Reagan’s, Bill Clinton’s, and John Kennedy’s tax cuts did. In the case of Mr. Clinton and Kennedy, they were offset by expanding liberal giveaway programs as the Democrats want everyone to be dependent on their elected officials for survival, which guarantees them good, powerful, high-paying jobs for life.
In their efforts to get these money grabs passed, they always proffer them as cuts for the masses with most of the benefits to come at some never to be realized point in the future. This is sometimes referred to as “trickle-down economics.” In reality, proponents are hoping to trigger higher inflation which they will do everything they can to disguise when and if it begins as their hopes are to pay down the huge debt with cheaper dollars. The bottom line is inflation hits everyone equally so that even people that don’t pay taxes will pay their share of the debt via higher costs for everything.
I do agree that corporate taxes have to be brought in line with the world’s going rate as too much worth is being deported.
In trying to guess how President Donald Trump pays no taxes. It was conjectured that he used his charitable trust as a private slush fund to pay off his losing lawsuits. When I brought this up in a prior letter, a responder called it fake news. Fake news or not, the loophole is there as are a few others. The Republicans love to refer to the highest tax bracket when discussing tax fairness when in truth a survey of the richest people will show their average tax rate after deductions is far less than the middle class using standard deductions.
In his farewell address, George Washington warned that “partisan politics” posed the greatest danger to the well-being of this nation. I can only ask that people put politics aside and look at the real issues involved and how they will effect us.
I’m sorry, Mr. Erlandson, but killing off the middle class is not a step in the right direction.