Tax plan effectively makes American dream a nightmare
At 2 a.m. Dec. 2, the Senate voted 51 to 49 to transfer the wealth of the American tax base from the taxpayers to the pockets of the most wealthy, and big corporations. Tax cuts have been used successfully to promote economic growth in the past, the stimulus needed to promote employment, incentive to business to expand, revenue for consumers to promote domestic spending to get the economy going.
Today, we have the lowest unemployment we have had in 40 years. The stock market is at an all-time high. Companies are more profitable than they have ever been. So why do we need to cut taxes on the most wealthy if they are doing better than ever?
The Senate has cut $1.4 trillion from Medicare to fund the cuts, ended the Affordable Care Act and not addressed funding of Social Security. Eighty-five million people are on Social Security, Medicare and Medicaid. Our electric grid, sewer systems and some bridges have not been improved for more than 50 years.
This bill cuts incoming revenue to the federal government by trillions of dollars, but spending does not stop; it creates American royalty and the end of democracy. The government for, and by, the people has become an oligarchy. We are a republic, 50 separate states; there is no more union, no mutual interest, just a matter of time before we separate. It would be the best way to get rid of the federal debt, a way for states to file bankruptcy and will also sink the world economy. Poor people and the elderly are at risk. There is no middle class, just rich and poor.
The American dream is now a nightmare, God help us all!