The Republican House tax-cut plan passed last week is one of the most morally depraved pieces of legislation in the annals of U.S. history, openly daring Americans to form a populist uprising against the country’s elite oligarchy.
GOP leaders, including their leader Donald Trump, are obviously calculating that a majority of people in this country have become so docile and malleable that they’ll go along with just about any lie handed to them, including the one that the tax-cut plan benefits the middle class.
The truth is that the GOP/Trump initiative is class warfare waged by the country’s oligarchs against the working class, the elderly, the sick and our students. The House bill passed Thursday without a single Democratic vote.
Why are Republicans pushing so hard to redistribute more money to the wealthy? U.S. Sen. Lindsey Graham warned his fellow Republicans about what will happen if the GOP doesn’t pass a tax-cut proposal benefiting them. “The financial contributions will stop,” Graham told a NBC News reporter.
Q: What happens if GOP isn’t able to pass tax reform?
Graham: “The party fractures, most incumbents in 2018 will get a severe primary challenge, a lot of them will probably lose, the base will fracture, the financial contributions will stop, other than that it’ll be fine!”
— Frank Thorp V (@frankthorp) November 9, 2017
If any version of this bill gets passed by the Senate, millions of middle-class Americans will pay higher taxes and lose tax breaks so the richest among us can receive massive windfalls in the form of a 20 percent corporate tax cut and other tax breaks, including tax relief for storing their private jets. One estimate shows that Trump and his family alone will receive a $1 billion cut under the tax plan, a fact he has lied about repeatedly.
Let that last point sink in for a moment. A sitting president is promoting a tax-cut plan that will raise his wealth by $1 billion while raising taxes on middle class people earning $50,000 to $70,000.
The plan is so utterly extreme and depraved that it’s actually surreal, even absurd. It’s like a children’s fable that shows how wealth corrupts people and creates such an intense desire for money that it becomes a disease. It’s a morality tale to teach how greed is selfish and immoral. It may well give the rich another financial windfall they don’t deserve but it also reveals their depravity.
Below are some highlights of how the Trump/GOP plan hurts regular American people.
(1) The House tax-cut plan would raise taxes on families with incomes of $50,000 to $70,000 because of the loss of various exemptions and breaks even though their actual tax rate percentage would drop slightly.
(2) People with incomes under $200,000 would, at first, see a slight decrease, but under the Senate plan the increase is eventually phased out in order to pay for the 20 percent corporation tax cut in order to meet federal deficit requirements.
(3) College students, especially underpaid graduate students working as researchers and assistants, would now see their tuition waivers taxed as income under the plan. Students who get tuition waivers because their parents work at a particular college would also be taxed now for the benefit. Many college endowments would be taxed at higher rates. Students would no longer be able to deduct the interest they pay on their student loans.
(4) People will no longer be able to write off exorbitant medical expenses under the House tax cut plan, which will affect the elderly the most.
(5) The proposed Senate tax-cut plan would eliminate the individual mandate that requires people have health insurance under the Affordable Care Act, which would lead to 13 million people eventually losing their coverage.
That’s just a partial list. The Senate has yet to vote on their version of the plan, which is different than the House plan on some items, but it definitely rewards the wealthiest people in the country at the expense of everyone else. Both bills give more power to the country’s cabal of oligarchs and will push income inequality to a new dire level the nation has never seen before.
If you’re in the middle class, a student, elderly, someone who has faced a severe medical problem, or you find yourself in some combination of those categories, you will lose money under this immoral Trump/GOP effort, which has been presented with such obvious lies and outlandish claims that it has to be a coordinated strategy to decenter our realities with disinformation.
Trump, a documented liar, has said this about the tax-cut plan, “It’s not good for me. Believe me. My plan is for the working people, and my plan is for jobs. I don’t benefit.”
Of course, please don’t believe him. He’s lying, and he knows it. From what can be ascertained from Trump’s business dealings, he and his family will make an outlandish $1 billion off the deal. Trump has also said the huge tax breaks for corporations will create new jobs and drive up wages, but the experts don’t agree, and even the executives of companies themselves indicate they won’t invest the new money. The tax breaks will only create huge dividends for rich stockholders, some of whom will park their money in offshore tax havens to avoid taxes altogether.
The Trump/GOP tax cut plan making its way through Congress is a brazen attempt to perpetuate The Big Lie, which is that making U.S. and world oligarchs richer and more powerful benefits all of us. The extreme components of the proposals, which lack historical precedent, challenge people directly to finally speak up forcefully against this craven immorality and greed on such a massive scale.
If people don’t rise up now against the greed and injustice, then Trump and his GOP surrogates—and oligarchs and corrupt governments throughout the world—will know they can get away with anything.