The Tax Cut and Jobs Act does give tax cuts to most of us, long enough for them to exist as a talking point in upcoming elections, but for the most part it’s just another con job like the the Trump candidacy and presidency has been from day one.
About 83 percent of the cuts go to the wealthy and corporations with no end to the giveaway and as for the rest of us, well, our tax cuts not only expire in a few years but then start to increase after 2027. It’s a law because the GOP’s wealthy campaign donors demanded it and some Republicans are already starting to feel like they went too far, too fast. Their trying to justify the “passed in a panic to do something” tax cuts as job creators. The old “trickle down” ideology of the GOP that economists have long debunked as being a serious job creator. There’s no requirement that corporations create jobs with the tax cuts. In fact, corporations are far more inclined to use their tax profits to pay shareholders and their executives first. And this is what Donald Trump called “the greatest tax cuts in our history.”
Instead of giving money back to the rich we should have used it to stimulate job growth by rebuilding the infrastructure that we’ve talked about doing for decades and to train and educate ourselves for the jobs of tomorrow. So much for “government of the people, by the people, and for the people.”
Happy 2018, everyone.