Trump’s misnamed “Tax Reform” greatly reduced the corporate tax rate and gave additional tax cuts to 704 billionaires and 18.6 million millionaires.
Large corporations including Amazon paid zero taxes for 2018. The average corporation paid only 11.3 percent. Trump literally allowed corporations to steal from the government and the result is an additional one-trillion added to the deficit which has reached an all-time high of 23 trillion dollars. This proves that there are no real ‘conservatives’ in the Republican Party.
“The Institute on Taxation and Economic Policy (ITEP) looked at Fortune 500 companies, identifying 379 of them ‘that were profitable in 2018 and that provided enough information to calculate effective federal income tax rates, which is the share of 2018 pretax profits they paid in federal income taxes in that year.’ Those 379 big companies had an overall 11.3% average tax rate, but 91 paid nothing, and 56 paid less than 5%.”
If Trump’s goal is to bankrupt America, he has a good start. His puppeteer, Vladimir Putin, must be very pleased.
Trump is just another Republican in name only whose fiscal policies are complete failures. His unilateral choice to impose additional tariffs on imports has cost jobs, record farm foreclosures, and increased prices on everything from appliances to toys.
We must rid our nation of its greatest disaster in history. We cannot afford this ignorant, immoral, and racist man any longer. He is a disaster.
Op-ed by James Turnage
“The Truth Lives Here”
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