Under the current president’s push for Congress to pass the GOP’s tax bill, there seems to be a steady, oppressive drumbeat to crush the middle class economically, and further prop-up big corporations and the wealthy.
The tax bill is based on the failed concept of supply-side economics, otherwise, known as the trickle-down theory or Reaganomics.
The aforementioned theory was espoused by President Ronald Reagan – a president for whom I retain great respect and for whom I voted for twice.
However, history has shown that even great people can be misguided.
Unfortunately, the theory of supply-side economics, anchored in lowering taxes for big corporations, is supposed to result in increased employment and a greater supply of goods and services.
To realize just how badly Reaganomics failed Americans, we only have to look at what happened to jobs in our country over the past 40 years under its implementation.
When big corporations received massive tax breaks under supply-side economics in the hope of increasing employment in this country, what resulted?
Big corporations outsourced their productions overseas where labor was cheap and where unions that could protect workers were non-existent, resulting in the layoffs of massive amounts of American workers.
The corporate-rush to outsource jobs overseas for cheap labor, while retaining great supply-side economics’ tax breaks, followed on the heels of Reaganomics.
In addition, to put icing on the corporate tax-break-cake, this current president is progressively removing costly government regulations to further increase corporate profits, thereby, removing government regulations originally implemented to protect American adults, children, and the American legacy.
This president insists the current tax bill is designed to help Americans get more money into their paychecks through tax cuts.
Yet, a comprehensive review of exactly what is in the current GOP tax bill is revelatory.
If passed, the only true winners of the tax bill would be corporations and the wealthy. Under the tax bill, tax exemptions lapse over time for the poor and the middle class, but not for corporations and the wealthy.
Thinking Americans must not run lock-step behind failed policies that are being re-packaged for them through GOP leaders’ fancy words, failed policies that will result in further unfulfilled promises.
Thinking Americans must not just listen to the bill of goods currently being sold to them by the current President and the GOP-dominated Congress. We must evaluate for ourselves what each proposed portion of the tax bill would do to each economic class.
We are not proverbial lemmings rushing to the sea behind one or more misguided leaders regardless of party affiliation.
We are not just Republicans. We are not just Democrats. We are thinking Americans first and foremost.
Our shared American foundations extend far beyond party affiliations.
The GOP tax bill, if passed, will hurt most American taxpayers….with the only winners being big corporations and the wealthy.
Read the proposed tax bill for yourself. It can be found easily online.
Only our own critical thinking skills will save us from being led off an unforgiving precipice by leaders supporting a failure-proven economic premise.
Contact our leaders with your own conclusions. As President Lincoln advised in his Gettysburg Address, America is a country “of the people, by the people, (and) for the people.” May it always be so.
Kathy Rittel
East Williston
