Margaret Burks: Why the tax reform bill will fail Americans
December 14, 2017
The proposed tax reform bill favors the rich and corporate interests at the expense of the middle class, working families and the poor. It increases the inequality between the top 1 percent and working Americans. It weakens the middle class, penalizes the poor and disadvantaged. A strong middle class drives the economy — a fact this bill ignores.
It is irresponsible to base tax reform on a "trickle down" theory that doesn't work … look at Kansas for a present day example. When investors get more money the evidence shows they keep it — they do not pass it along in wage increases. There is no evidence that corporations will create more jobs or expand, particularly when we have the lowest unemployment rate in decades (note the labor shortage already evident in construction, tech, and agriculture).
It increases the deficit even more, leaving it once again for future generations to face an eventual financial meltdown.
It will take away health care from millions of Americans, resulting in unnecessary deaths, suffering and hardship for American families, seniors and those most at risk. Eliminating mandated participation will result in higher premiums and an even more chaotic health care environment for citizens and insurers alike.
The Senate needs to vote 'no' now and push for genuine bipartisan solutions. Link corporate tax reduction to the number of jobs created and money invested in growth, otherwise the rich get richer and the wealth divide increases even further. Protect social security by raising the taxable income basis over time. Revisit health care as a separate issue, address drug pricing policy, have an open debate on expanding Medicare to all. Make changes gradual and beware of unintended consequences.
Our elected representatives need to do what's best for the American people and get beyond this Democrat vs. Republican, blue vs. red, battle — it is harming our country.
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Margaret Burks lives in Nevada City.