Friday, November 17, 2017

Republican Tax Plan Robs Middle Class to Pay the Rich. Why That's Such an Ugly Thought

Californians, New Jersians, New Yorkers Will Pay More

Look it's pretty clear that without the State and Local Tax Deductions and limitations on property tax and mortgage deductions, middle-class homeowners in these states are going to be losers under the Republican tax plan.

As will Seniors and Graduate Students
Yes, the other two groups winding up on the losing stick are seniors, who can longer deduct medical expenses, as well as graduate students, whose huge tuition waivers will now be taxable.

More than that, the Republican tax plan will also likely cut the Medicare and Social Security funding that most of us are banking on for retirement.

Look - I want to keep my money as much as the next guy. I've worked hard for it. But as would be most people, I bet, I'm willing to pay a little bit more if it would help our country.

What do I mean by that? I mean things like -

  • Lowering our debt
  • Funding our military in time of necessary war
  • Taking care of our veterans
  • Investing in educating our citizens
I can probably be convinced to part with my hard-earned dollars. But that's not what this plan does. Instead it gives the money away to the top .02% through tax breaks to multi-millionaire estate owners and CEOs. Meanwhile, making our budget deficits WORSE, not better.

Honestly, I believe that people would be willing to pay their fair share or even a bit more if we were working together to improve our country's finances. Perhaps a bit more tax on everyone - from CEO's to the middle-class - would actually bring our deficits down, fund our unfunded wars, rebuild our infrastrucutre, and give us first class education.

But Republicans don't seem to be for this. After being swept in under a wave of populist anger demanding that something be done to build opportunity for the average American, Republicans come up with a plan to tax middle-class elites and seniors in order to give breaks to upper-crust elites.

If this doesn't show their true colors to voters, I doubt anything will.

I think the phrase "this country is going to hell in a hand basket" does get overused. But trust me (as our Prez likes to say) - this Bill is the biggest hand basket I've ever seen.