The House of Representatives passed a Republican tax reform bill, called the Tax Cuts and Jobs Act, this morning. The vote was essentially along party lines with zero Democrats voting for the bill but also 13 Republicans joining them, according to CBS News.
In a Quinnipiac University Poll released recently, only 25 percent of American voters approve of the tax plan, with 52 percent disapproving the plan. The problem for most Americans with this tax cut plan is that it is designed to favor the wealthy. And in doing so it will increase budget deficits by $1.7 trillion over 10 years.
A tax cut for whom? The wealthy. And that is clearly what this is. Once again the Republicans have designed a tax plan that pads the pockets of the wealthy and their rich donors. Cutting the corporate tax rate is reminiscent of trickle-down economics of the Ronald Reagan era, and we all know how that turned out.
Ever since his campaign, President Trump has preached over and over that this tax plan “would not be good for me.” According to NBC, Trump told a group of Democratic senators, “My accountant called me and said ‘you’re going to get killed in this bill.’”
Killed? Really? An NBC News analysis further reports that Trump and his heirs could potentially save more than $1 billion under this GOP tax plan from a repeal of the estate tax. The only thing killing Trump at this point is his broken campaign promises and his repeated lying to the American people.
And overall, that is what I am so sick and tired of. Sure, lying in politics is nothing new, but I don’t think I have ever seen somebody (the President of The United States) lie so blatantly and frequently. He does the opposite of everything he says, and I am convinced he has only his self-interest in mind. This “tax cut” plan is a prime example of that.