We now learn that over 400 millionaires signed a letter sent to the GOP congress and urged them not to cut taxes for the wealthy and Corporate America. That their plan would not close the income gap for the middle class but would actually add to the disparity that already exists and make the wealthy more wealthy. If anything they said their taxes should be raised.
It is obvious that those millionaires remember the trickle down tax cuts of Reagan and Bush 43 that benefited the wealthy and corporate America the most, transferred wealth from the middle class, reduced federal tax revenue and created record deficits. They also remember the meltdown of the Savings and Loan Industry and the Wall Street Banks. They also know such tax schemes benefit the CEO's, corporate executives and stock holders and does not create jobs or raise wages for the middle class.
Trump and his republican ditto heads in congress are only concerned about feeding the swamp for their campaign contributions. The tax issue is a way of trying to salvage their failure to govern. Offering a 15% reduction in the corporate tax rate is anti American for the average worker and a disgrace that any elected official would stoop that low. Corporate America has been doing well since the end of the great recession.
There are so many other critical issues to be addressed by Trump and his ditto heads that are more important to America than their tax scheme disguised as tax REFORM. But the trumpet man and the GOP are really not about governing the democratic way. What America needs now is for enough republicans to join the democratic party and vote against this tax plan scheme so the real issues can be put on the agenda. Also, look for the GOP to start adding other goodies to their tax scheme.
This commentary written by Joe Lorio
