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The Trickle Down Tax Scam

December 11, 2017

After months of secrecy and an all-out-effort by Republican Congressional Representatives and Senators to ram through what they have been billing as “tax reform,” we now know what it really is—a “tax scam,” with particularly harsh consequences for those with health problems. I apologize for my strong political views here—and that is exactly what they are: just mine—but I feel compelled to stand up for past and present clients in connection with this phony “tax reform” and direct attack on the working men and women of America.

The very wealthiest in our country will overwhelmingly benefit the most from this GOP, big-donor tax plan. This chart says it all—more than 83% to 98% of the richest people will see their taxes decrease. The rest of Americans? Not so much.

Graph of "Who Gets a Tax Cut and Who Doesn't" in Senate Bill.  Less than 12% of the bottom 5th of earners get a tax break; 98.1% of the top 0.1% of earners get a tax break.

The architects of the tax bill say that the reduced taxes will spur economic growth to make up for the lost tax revenue—this is the so-called “trickle-down theory.” Don’t you believe it. Of 42 leading economists surveyed by the University of Chicago’s Booth School of Business, only one believes the GOP tax bill will boost the economy in the manner the GOP touts. And indeed, the independent Joint Center on Taxation has been clear that the GOP tax plan will explode the deficit by 1-1.5 trillion dollars.. Look: Unpaid-for tax cuts yield deficits going up, then GOP demanding coveted SSDI/SSI and Medicare/Medicaid spending cuts … to address the very deficits they create today to help the wealthy–make no mistake about it, this bill and its results are driven by GOP wealthy donors. This harsh result relates to you no matter whether you live in the congressional districts of the GOP’s Peter Roskam, Adam Kinzinger, Randy Hultgren, or elsewhere in the Chicago metro area.

Social media commentator Lance Ulanoff nailed it in a tweet with this bold representation of what trickle-down economics really trickles down to:

My opinion: middle-class Americans, particularly those with past or present health problems, are the ones being tricked.

Organize, get involved now, and most importantly, VOTE IN 2018!