Once again Republicans are trying to push through a tax package with the erroneous promise that giving the wealthy (and corporations) more money will lead to better conditions for the economically lower and middle classes. Even the godfather of conservatism, Ronald Reagan, admitted that trickle down didn’t work and had to raise taxes.
What the extra money in the pockets of the rich and of corporations will really do is provide more money for propaganda to elect more advocates of the rich and continue to decimate our social safety nets. Given that cutting taxes on the rich and therefore bringing in less money will lead to increased deficits which Republicans also want to cut, they are diabolically creating a “need” to cut social services (read Medicare, Medicaid and Social Security).
One argument for cutting the corporate tax rate is that it would make our companies more competitive internationally. A look at tax rates in most nations of the world shows that of the major industrial nations, only Ireland, Switzerland, Taiwan and the UK have corporate rates below the proposed 20 percent. All of these countries except Switzerland, plus all the other industrialized nations with corporate rates between 20 and 35 percent, have top personal income tax rates of 40 percent or higher. This is at least 5 percent more than that proposed for our uber rich. Even China has a top personal rate of 45 percent.
So if you are not among the wealthy, I beseech you to do as the wealthy do and vote for your own well-being. Stop believing the false innuendo. Donald Trump doesn’t need an extra billion dollars; you need an extra few thousand. Stop settling for crumbs in the tax package and demand the full loaf. If you let government continue to cater to the rich, you will have only yourself to blame when health care is out of financial reach, corporations can pollute without regulation, public land is sold to private parties and retirement is but a figment of your imagination.
Richard Steiner, Salt Lake City