GOP tax plan doesn’t help; it hurts!
A major premise of the Republican tax plan is that giving more money to the rich will create jobs, help pay the national debt, and make the middle class better off. This is trickle down economics. Over the years, it has resulted in no trickle — not even a drop. Instead, we have a flood of our tax money going up, resulting in a huge disparity in wealth. Some estimates say that 90 percent of the wealth is in the hands of the top 1 percent. The rich are getting richer, and the rest of us are working harder to keep from falling even farther behind.
But in addition to the fact that trickle down doesn’t work, there is another phrase “job creators” that is an even bigger fantasy. Those folks getting more tax breaks (meaning more of our money) are NOT job creators. They are job eliminators. That’s how they earn their bonuses. They send jobs overseas to get cheap labor; they downsize; they automate. This increases corporate profits and insures their job security and that the bonus checks keep coming.
The desperate plea that we need to grow the economy doesn’t hold water either because the economy IS growing. Instead, it just could be that these legislators are paying their bill. It took a lot of money from that top 1 percent to get them elected. Those “make them squeal ads” were genius and not cheap. One could argue that the Republican legislators should be praised for paying their bill. One could even argue they should be praised for being very smart because they have found a way to make US pay their bill. It could be their opportunity to pony up and pay back those that brought ’em and bought ’em.
However, all of us have at least one consolation. Finally — just finally — our private jet planes won’t be taxed. Now THAT is a relief.