Congressional Republicans have rammed through big tax cuts for the mega rich (including the Trump family) and mega corporations. Since the Reagan era, they've claimed these will crank up the economy and create jobs, and that the tax cuts will pay for themselves. Since the Reagan era, and most recently in Kansas, it hasn't happened.
But they say you'll be seeing a nice pay increase any time now, or an offer for a good-paying job with benefits. In addition you'll see a nice increase in your paycheck from lower tax withholding, come February.
Since Congressional Democrats were totally shut out of the process, Republicans should get the credit for your pay raise or awesome new job. Of course if those don't happen for you, Republicans also should get the credit.
Republicans tout the doubling of the standard deduction. They don't mention that (by my understanding) about two-thirds of that benefit will be nullified by eliminating the personal deduction. We won't see the reality of their changes until we are doing our 2018 taxes in 2019. But I'll bet tax attorneys and CPAs will be getting lots of business.
Republicans touted this as tax "reform" and simplification. It's neither. It was major legislation that needed a very deliberate process (bipartisan would be nice too), at least if the goal was to serve the good of the country. It wasn't. It's payback to Republican mega rich and corporate campaign donors. They know which masters they serve.
Angst about running up federal debt disappears when Republicans are cutting taxes for the rich. But their concern was back as soon as their friends were taken care of. This year we'll see calls for "entitlement and welfare reform." That's code for gutting funding for Medicare, Medicaid, Social Security, CHP for low income children, WIC nutrition for low income women and their young children, along with things like food stamps, low income heating assistance, low income housing vouchers and the like.
PAY ATTENTION HERE: We see an effort to change the image of social safety net programs to welfare - implying handouts to undeserving deadbeats versus support for our hard-working neighbors who do essential but low-paying jobs.
From the information I've seen, a majority of non-rich Americans opposed the tax cuts, for good reason. But with single party democracy, Trumpublicans can be open with their priorities and give the middle finger to low- and middle-income Americans, including a lot of their own voters.
Carole McWilliams
Bayfield
