Republicans in the House of Representatives have passed the Tax Cut and Jobs Act, and the Senate is working on a companion bill. The bill should be called the “Tax Cut for Corporations and Wealthy Act.”
It has been well reported that this proposed tax cut package heavily favors the rich and hurts the sick, poor and elderly. But not much is being made of the predicted $1.4 trillion it will add to the national debt over the next 10 years. It wasn’t that long ago that Republicans shut down the federal government attempting to prevent an increase in the national debt. But now that Republicans control the government it appears the national debt is not very important.
Fiscal restraint joins “family values,” which has been cast aside by the Republicans. Family values used to be important, but now that President Trump is leading the party, groping women, racism and incessant lying are fine. With Trump and the Republican Congress it is more like “corporate values,” what’s good for corporations is good for everybody. But we’ve tried trickle-down economics before; it doesn’t work.
The Republicans in Congress seem intent on providing major tax cuts to their corporate sponsors, while giving the middle class just enough to get them to go along. Meanwhile our children and grandchildren get more debt piled onto their backs. Is this what we want for our country?