Republicans love to claim that taxes in America are too high, and that tax cuts are a must for the American people. The problem is that they are talking about 10 percent of all Americans.
Trump’s Republicans are talking about ‘taxes for small businesses.’ The problem is that this is a facade. It would be rare to find an actual small business which pays the top rate. What Republicans are actually talking about are cuts for the super rich. Every time they mention ‘small business,’ or ‘small farms,’ they are actually talking about large corporations and corporate farms. This is classic ‘misdirection’ by GOP politicians.
The truth is that under the Republican tax plan Donald Trump and 584 other billionaires in America would benefit the most. They would receive a lower tax rate and additional deductions unavailable to the working class.
Personally, I believe that billionaires should pay their fair share of taxes simply because the freedom to live in this country, which supports a capitalistic society, is the very reason they have enormous wealth.
Republicans want to eliminate the estate tax which, contrary to Republican claims, would only benefit the super rich.
They also propose a system where large corporations would not pay taxes on their foreign business interests; (Trump has businesses in 25 different nations). Republicans would also reduce the corporate tax rate to 15 percent which would crush small corporations and small businesses by removing competition.
“Paying for the Trump and ‘Better Way’ tax cuts for the affluent and large corporations could hurt education, infrastructure, and other federal investments critical to the economy and small businesses.”
Trump’s tax plan is more severe than George W. Bush’s which placed our nation in a near depression. It continues to be based on the failed policies of Reagan, Bush 41, and Bush 43 known as “trickle-down economics.” The result of this failed policy is always higher deficits and increased unemployment.
Republicans continue to prove that they are unable to govern effectively. They have no leadership. Theirs is a party of destruction and support for special interests.
Please re-post; thank you.
Op-ed by James Turnage
Image courtesy of DonkeyHotey
My novels are available on Amazon; CLICK HERE