By Bryonna Jay
I thought we all agreed that trickle down economics do not work? Which is why I’m weary of the additions in President Trump’s tax plan that will make the richest richer and leave us with the scraps.
This bill permeants tax cuts for corporations and will lower deductions for state, local and property taxes. Trump ran on a campaign that villainized former Secretary of State Clinton and former President Obama for hanging out in the notorious “swamp” filled with corporations and corrupt politicians that were out to further disenfranchise the work- ing and middle classes. But it appears that Trump’s base has caught a case of amnesia because what’s also in- cluded in this bill will “give $2,000 to families” this tax season, which Trump insistently repeats. Don’t get me wrong. I am a broke graduate student, so any extra money is great and could mean the difference of if I have to wait a few months to have enough to get some cavities filled or if I can do it sooner.
However, the changes to the tax plan feels like a really expensive sedative to try to make Americans forget that they are being prodded from behind. After 2025, the deductions that will primarily benefit the middle class, will go away and there will be a significant decrease in yearly income after taxes. What’s more is that this bill will add $1.4 trillion to the national debt. Who is the bill collector that calls the White House? Because $1.4 trillion seems like a criminal amount of money to owe.
In a perfect world, this tax cut for corporations could be a good thing; big business could create more jobs, give employees better wages and benefits, and invest more into communities. However, this is America; there is no ceiling on how much money anyone or any entity could acquire. Regardless of what the 99% or even the government is lacking in resources; such as universal health care, globally competitive public education, or changing infrastruc- ture to help keep our world from shriveling up because of, you know, climate change.