ABOVE: Chart by Citizens’ Media TV, based on data from the Tax Policy Center
A letter to the editor Heather Larson of Mount Holly, NJ
I am replying to Tom MacArthur’s letter in the January 26th edition of the Newark Star Ledger. He might be headed to your paper soon.
Tom MacArthur has asked us if we’d like to keep more of our hard earned money and then goes on to say that’s what this new tax bill does.
I’d like to remind people that most of us are getting a few unimpressive bucks. After taking away the personal deduction ($4,050 for each family member), taxable income will increase. High tax states like ours will have many homeowners not able to write off state and local taxes (SALT) over $10,000. So, most of us aren’t even sure that increase in net pay will actually exist. Not to mention, we have to scramble to figure out if enough is being taken out of our paychecks so we don’t owe an exorbitant amount next year. Maybe, just maybe I’ll see thirty bucks after all of that. Not exactly money to get excited over. I’ll save it if I get it, just in case I owe.
The other problem is, the extreme rich and corporations made out like bandits. There is a complete disparity in the amount of tax break given. People making 500k-1million get a 4% cut while those under 100k get 1.8% cut and below.
Data derived from the Tax Policy Center. Analysis by NPR.
And we all know about the massive corporate tax cut. MacArthur and the GOP tout this as a salary increase, bonus and job creating extravaganza. More like temporary incentives for workers in election season and golden parachute guarantees in the millions for the campaign donating upper echelon for when their companies go under.
With the added $2 trillion in debt, we will be in a world of hurt to pay back what this bill has done. The GOP is just drooling to use this debt as an excuse to get rid of programs like Medicaid, Medicare and Social Security. They want it all market based because that’s who pays for them and their seat in congress. They are the reason any problems with these benefits exist. Like Obamacare, they find ways to make any benefit from the government harder to get, despite all of our investment in it, despite it being one thing we can rely on.
Our vulnerable population will be left in the dust with their benefits being riddled with holes and targeted for destruction. What is it that people like MacArthur want—poor people living in the streets again like the 1800s? These programs slated to be shrunk or cut like Medicaid affect people’s life, literally.
You know the saying, “if it walks like a duck, quacks like a duck, it’s probably a duck”. Tom MacArthur sounds like a used car salesman (you know, the bad ones folks, don’t take offense if you’re honest). Now they’re spending millions to promote it.
Tom MacArthur and the GOP are more focused on selling a bill than creating legislation that will strongly benefit the working class and poor. Their gamble on big business will fail (as it normally does). Markets go up and down and there is always a recession we should prepare for. They just prepare for themselves, not the rest of us.
Editor’s note: The opinions in this letter are the author’s only.
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