- November 23, 2024
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The standard line from lawmakers is if no one likes proposed legislation, it must be the right thing to do.
How about this: If no one likes it, it must be crud.
Which is exactly what Congress’ proposed tax reform is.
It can’t just be us. Surely, as you hear and read more about the details of this legislative labyrinth, you are concluding what we are: It’s nothing more than rearranging the deck chairs on a sinking Republican ship.
We couldn’t help but LOL when we heard Treasury Secretary Steve Mnuchin say the average American earning the median of $59,000 a year will see an extra $500 in his wallet if this tax plan goes through. You call that a middle-income tax cut?
And then there was the Wall Street Journal revelation this past weekend that the tax bill writers included stealth provisions that would lift the top marginal tax rate from 39.6% to 45.6% on those earning between $1 million and $1.2 million.
How about this: President Trump and others in Congress have yapped incessantly about cutting taxes on businesses to spur economic growth. But when analysts examined how the tax bill would affect “pass-through” entities, such as S corporations and partnerships, which account for 40% of all business income in the United States, Caroline Bruckner at the Kogod Tax Policy Center at American University, told the Wall Street Journal: “At least 10 million small business owners wouldn’t see a dime from this tax cut.”
Regardless of all the spin about this tax plan being “historic” and will be “good for jobs and the middle class,” it’s just more mush from the wimps. Lipstick on a pig.
It’s more of the same ol’ looting and redistribution of your property (the income you earned from your labor) and the redistribution of it in the form of unearned benefits, bestowed by people we elect, who use “the law” to satisfy their arrogance and self-righteousness.
How is it morally right to take (at the point of a gun, mind you) the earnings and property of some, but take nothing from others? If the United States is all about justice for all, why is it fair and just that about 1.7 million Americans, less than 1% of the population, pay 70.6% of federal income taxes? Why is fair and just that the bottom 50% of income earners, with income of $39,275 or less, pay 2.83% of federal income taxes?
Congressional leaders talk big about letting Americans keep more of their money. But sadly, we know how this is going to turn out. It’ll be more government tweaking in the margins on tax rates, and nothing done to curb the other part of our government’s immoral behavior: overspending money it doesn’t have.
Republicans, Democrats in D.C.: It doesn’t matter; one in the same.