Wednesday, December 6, 2017

WSJ: “This Tax Plan Puts Another Knife Into American Democracy”

Only 25% of Americans, Trump’s genuinely loyal core supporters, fully support Trump’s tax bill.[Note that today, he declared Jerusalem to be Israel’s capital to bolster his popularity at this critical juncture among the 40% of Americans who are fundamentalists.] Even the Wall Street Journal published an editorial calling the tax bill a threat to democracy. They state that “trickle-down economics doesn’t work, but trickle-up economics does... the plan’s massive tax cuts won’t reinvigorate the economy. For years corporations have enjoyed historically high profits, but investment hasn’t increased alongside them.”

“Neither would it juice consumer spending. Sixty-two percent of the benefits... flow to the top 1% of earners... The true source of consumer power rests with the middle class, yet nearly half of American families would ultimately see their taxes rise...”

In other words, the GOP tax plan overwhelmingly helps the wealthy and negatively impacts almost everyone else.

Use your favorite search engine to research:
negative impact GOP tax plan

In addition, read about how we aren’t ready for another recession because a decade of economic growth has NOT made the middle class more secure: