Tax plan does the opposite of what Republicans say it will do
The Republican tax plan purports to center on a tax decrease for the hard-working middle class. While this is their main talking point, what the Republican are actually doing is quite the contrary.
If the middle class is truly the center of attention, one might assume legislators would start with maintaining those aspects of current tax law that, in fact, accomplish that goal. After working out from this center, any further cuts could be granted to the large corporations and the mega-wealthy.
The exact opposite was rammed through. Corporate tax cuts and the elimination of the estate tax were some of the first of many proposed massive cuts, exploding the federal budget deficit in the meantime. Supposedly any leftovers will (maybe) benefit the beleaguered lower and middle class.
Bearing in mind that this has been a two-month, partisan rush job, as opposed to a carefully considered tax reform plan, haste is certainly going to make waste. Few, if any, reputable (non-magic) economists agree with the Republican numbers or economic growth projections. While the correlation between tax cuts and economic growth may be murky at best, past reductions have certainly led to income inequality.
Politics, not sound economic data, models and historical precedents, is the foundation of this flawed and malevolent tax scheme. People have suffered enough with these top-trickle-down maneuvers. Let the 99 percent be the beneficiaries of true tax reform.
Gary M. Schulenberg