I just read the column by Paul Krugman in the New York Times: “The G.O.P. Is No Party for Honest Men”, October 16, 2016. The so-called tax reform plan the Republicans are cooking up is nothing but a tax cut for the wealthiest 1% of Americans.
Krugman points to outside nonpartisan evaluators:
“Over all, the nonpartisan Tax Policy Center estimates that by 2027 almost 80 percent of the gains from the plan would go to the top 1 percent, just 12 percent of the gains to the middle 60 percent of Americans — and that more than a quarter of middle-class families would actually see their taxes go up.”
He goes on to explain the title of his column by detailing the lies the Republicans are telling to sell their plan. But the American people do not want a tax cut for the rich – quite the reverse.
Where have we seen this movie before? Those of us who have been around longer recognize the pattern: a budget-busting giveaway to the rich occurred under Reagan, and then again under GW Bush, causing ultimately serious economic problems. Experience shows that it takes eight years of Democratic administration to correct the mess caused by just one of these Republican tax bills. Much of the Clinton and Obama administrations’ time in office was devoted to policies to set the economy back on track.
It is not clear that there is any way to prevent this bill from being enacted, with Republicans in control in the Congress and the White House. It is always a mistake to vote Republican, that is, if you are not in the top 1%…