Tuesday, December 5, 2017

GOP tax plan: republicans messing with people's money

I was talking to a friend over the weekend & she said "why would 300 politicians -- 300 bribed individuals in congress make legislation for 300 million Americans? This tax bill should be put to a national vote since it'll affect every single American & his or her money". 
At first I thought my friend's math was dubious (to say the least), but then I thought about it, & she was sorta right if you take into account it'll be passed by 50 republican senators and about 225 GOP members of the house. Anyway, I understand her point. 

Nevertheless, despite eventually raising taxes on the middle-class (& opposition from people like my friend), the republican tax plan will most likely pass:

https://www.nytimes.com/interactive/2017/11/30/us/politics/tax-cuts-increases-for-your-income.html


The Senate tax bill has been marketed by Republicans as a tax cut for the middle class. But estimates of its effects show that at least some people in nearly every income group would receive a tax increase, and that share would grow significantly over time."

By giving huge tax cuts to the rich, republicans are counting on causing massive amounts of debt. 
Afterwards, republicans will justify cutting Medicare & other social programs in order to reduce that same debt (when the deficit eventually becomes too great):

https://wtop.com/congress/2017/12/qa-tax-bill-impacts-on-health-law-coverage-and-medicare/

"The tax bill would increase federal deficits by about $1 trillion over 10 years, even after accounting for stronger economic growth expected from tax cuts. More red ink means higher borrowing costs for the government, and that would reduce the options for policymakers when Medicare’s long-postponed financial reckoning comes due.
Medicare’s giant fund for inpatient care isn’t expected to start running short until 2029. That’s still more than a decade away, but a federal anti-deficit law currently in effect could trigger automatic cuts as early as next year — about $25 billion from Medicare."
The right-wing politicians in congress believe their wealthy donors & corporations deserve everything. Yet on the opposite side, they believe the middle-class & the poor deserve nothing. Just check out these quotes from republican senators Iowa's Chuck Grassley: 

'“I think not having the estate tax recognizes the people that are investing,” Grassley said, “as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”'

And Utah's Orrin Hatch:

'“I have a rough time wanting to spend billions and billions and trillions of dollars to help people who won’t help themselves, won’t lift a finger, and expect the federal government to do everything.”'
https://www.washingtonpost.com/blogs/plum-line/wp/2017/12/04/two-ugly-quotes-from-republicans-reveal-the-truth-about-their-tax-plan/

It's a shame this bill will become law soon. The only positive development in the news is, despite the Trump doublespeak about a tax cut for the "middle-class", he still hasn't convinced the majority of the American people:

http://www.businessinsider.com/trump-tax-reform-bill-polls-gallup-quinnipiac-text-gop-2017-12

"Two new polls released Tuesday showed that the bill has become deeply unpopular with the majority of Americans, with many voters believing it would not benefit them and hand the most assistance to wealthier Americans.
A Gallup poll found that 29% of people surveyed approved of the GOP tax bill, the Tax Cuts and Jobs Act (TCJA), while 56% disapproved. Seventy percent of Republicans approved, while just 7% of Democrats were in favor. Independents joined Democrats in relative distaste, with 25% of those polled approving of the legislation and 56% disapproving."

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