Seventy years ago, the “strong America” that we remember and would like to have back was built during times when the wealthy paid their share.
During the Eisenhower presidency, a Republican president, the highest tax rate approached 90 percent. Then, we had the needed funds for education (like the veteran’s GI bill), research and technology, infrastructure, our military and more, essential for any developed nation.
While President Trump keeps defending the Republican tax plan by calling it a bitter pill for the rich and claiming its provisions will boost the middle class and make him a “big loser” should it be approved, this is an outright lie.
According to Forbes, the elimination of the estate tax alone would save Trump’s heirs as much as $1.2 billion, which is a big present for his kids.
As for taxes paid, more than 62 percent of all individual tax cuts will go to the wealthiest 1 percent. That is not a bitter pill, but a sugar candy that they do not need. While middle class earners will initially get a modest tax cut, in coming years their taxes will increase, benefiting corporations.
Worst of all, this tax bill will increase the national debt by $1.5 trillion.
Now that we have been lied to about the tax bill benefiting the middle class, will Medicare and Social Security be next?
Werner Heiber
Durango
