Tax reform plan is helping only wealthy donors
Did you hear the one about the man who bumped into his congressman on the street? The congressman, with a big smile on his face, boasted that he was giving the man a huge tax break.
The man said he heard the country would need to borrow trillions of dollars to fund the tax break. The congressman said, “You don’t have to worry, your children and grandchildren will pay for it.”
The man explained to the congressman that his mother was in a nursing home and he had a daughter in college and that by eliminating the medical deduction and the student loan deduction he would have to pay higher taxes.
Without batting an eye, the congressman said, “Trust me. Have I ever lied to you before? It’ll all come out in the wash.”
The man asked why, if the congressman really wanted to give him a tax break, not just cut payroll taxes. The man pointed out that since 70 percent of the economy is dependent on consumer spending, workers, by spending this extra money that would increase demand, jobs in the economy would grow and everyone, including business owners, would benefit – a sort of trickle up theory of economics.
The congressman said he still believed in the old trickle-down theory of economics and that after 40 years the trickle had to get to workers eventually. “Besides,” the congressman said, “What about all those poor, wealthy people who funded my campaign – they wouldn’t be happy. But remember, they don’t influence my vote. I represent you.”
That’s not very funny!
Lawrence R. Bayerl