Former Kemp aide criticized for promoting Reagan tax cuts
Shame on Russ Gugino for peddling the piffle that was published in The Buffalo News (Another Voice, Nov. 30). Gugino has had 30 plus years to reflect upon the “Reagan-Kemp” tax reforms. Yet, he maintains a cocksure belief that reducing taxes on the wealthiest somehow benefits the working class?
A simple examination of comparative GDP, household income and federal debt easily attests to the utter failure of those tax reforms. The Reagan-era tax cuts did nothing to buoy the fortunes of average American families and individuals.
The current tax “reform” (over 500 pages long) that is being rammed through Washington will continue to lighten the wallets of most. As its true intent is to fatten the pockets of the richest in our country, it will be a success. However, this upward redistribution of hundreds of billions of dollars will only continue to disfigure the American form of democracy.
For without proper checks (taxation) on the wealthy class, we are allowing the smallest part of the population to accumulate and hoard outrageous fortunes. This extreme wealth invariably leads to extreme power. This illegitimate power – again unchecked – is amoral and corrupt. This tiny group, above any law or restraint, circumvents all principles of democratic governing. Examples of this malicious influence are revealed to us every day. For instance, the current tax bill was written in the utmost secrecy behind closed doors. Then, this proposed legislation was handed to certain senators by lobbyists. Lastly, every forecast of this tax reform’s consequences predicts – minimally – a deficit of $500 billion or more.
I am neither a Democrat nor a Republican, as neither party makes any pretense to represent 99 percent of the population. After all, they have been bought. So, it has been left to us – the majority! – to find a way to save our democracy.