It is hard to take the “2017 Tax Reform for Economic Growth and American Jobs” that was released on 26th April 2017, a one page leaflet of wishes. This is shorter than most of the restaurant and they usually doesn’t have that many dishes to serve their clientele. Still, the Trump Administration and their “Treasury Secretary Steve Mnushin set out a test for tax reform that, “there will be no absolute tax cut for the upper class.” (Richard E. Neal – ‘President Trump’s Tax Proposal Another Broken Promise to the Middle Class’ – 26.04.2017). Still, with the first prospect of the wish-list of the Trump Administration is to give the rich less taxes.
An on a one-page wish-list you don’t really have the space or the care for describing the results, I look forward to read the CBO report on the proposed tax cuts. Since this should have some sort of implications, not only let the Manhattan elite afford yet another cabin in the Aspen or trip to Formula One in Monaco. They are speaking of easing the tax-codes and provide tax-relief for American families, without giving any specific detail into what that might be. I am sure the tickets of travel and the indispensable Secret Service guards to the golfing-weekends at the Mar-A-Lago in Florida has more explained reports, than these quick promises to the American families.
They are putting new brackets for the American families, also doubling deductions from the taxes and promise relief, without saying what this means, or if the families really get any serious cuts. While the Business get a shaved business tax rate from 35% to 15 %. One time tax on the Business Ownership abroad, to make sure the funds comes back into the United States. Last is to eliminate the tax breaks for special interest. So the last one, is to significantly add some tax back in the Internal Revenue Service.
So the little plan they have is to either cut and reform it minimally, while giving tax breaks to bigger corporations and the wealthy. The ones who already have the money and earns the profits, get to pay less, while the ones who needs or could have need of serious reform doesn’t get it. The ones earning on this wish-list is the Wall Street connected individuals, the Multi-National Corporations and the Limited Liability Companies (LLC). This sort of tax reform is made for the richest, not for the working class or the average voters who voted for the current President.
This is just another proof, that the President Trump isn’t there to drain the swamp or even trying to stop the major corporate takeover of Washington D.C. and the Capitol Hill. He is more of the same, just infused with less coded language and straight-face doubling down on the foreplay for the business executives. There isn’t anything in the works that proves that President Trump want to care about environment or health of his population over the profits of Goldman Sachs, Merrill-Lynch or any other significant private sector business operative like Exxon-Mobile. All of them will get the blessings and their days in the sunshine. As long as their Manchurian Candidate Trump are in office.
There aren’t anything that proves otherwise, his Executive Orders has been for easement of the businesses, not for the well-being of the population nor environment. The lacking care of the citizens and only caring for corporate citizens will clearly alter the pledges and promises. Certainly, the ones who voted for him should feel betrayed. The corporate greed in the United States is endless, as all the lobbyists, the paid senators, paid representatives and other legislators in Washington D.C. follows their donors more than the public. Just look at Ted Cruz record of praising the Mercer family and their values. Than you get a prime time example and all of the Republicans working for the Koch Brothers will.
The same is now happening from the oval office, with no restraint or any care of the consequence, if they fail or bitterly accept the truth. Doubt it, as they will double down and say it is for the common core, while the true tax cuts is for big-business and multi-national corporations who will have a surge of profits. The supposed trickling down theory will be put into play, while more of the monies will go into the pockets of the wealthy and the difference between the richest and poorest will grow even more. The lack of care from the state combined with the massive wealth, will really also destroy the society and make the ones left behind even feel more vulnerable, but that is not a concern the Trump Administration has. They only care for the billionaires and millionaires, not the ones living on food-stamps or on government subsidizes, as this government would easily have axed all of that.
I look forward to see the estimates from a real tax-plan from the Trump Administration, one with the implication and proposed reaction to the taxes and cuts. If the Trump Administration after these sort of cuts ever compare themselves to previous administrations and their cuts. They should be careful, as this will spike the deficit and the borrowing will grow enormously, into amounts that make the Democratic government look careful and fiscal sound. But it is only the Republican Presidents and Governments who is allowed to act as drunk dogs and then complain when the democrats doesn’t serve them at the last call. Certainly, this is the prospect of this sort of acts. This will not be for the American families, neither for the middle-class, this tax cuts are for the business owners and the wealthy who pockets dozens of millions on this without any consideration on fiscal funding of the budget, nor the expenses running the current government. But hey, Trump wants to downgrade the American economy and also weaken the dollar, so this might be one of the many ways he tries to do it. Kudos! Peace.
MinBane 