Migajas de la Mesa

December 21, 2017 § Leave a comment

The Theft and the Lies

As the Trump enthralled Republicans bask in the glow of corporate greed we can only marvel at their unconscionable hypocrisy.   They have crafted a tax plan which amounts to a long term transfer of wealth from underclass and middle class Americans to multinational corporations and wealthy individuals unparalleled in our history.  And they have accomplished this by adding more than a trillion dollars to the national debt, an obligation payable by future generations of our children and grandchildren.

This immorality of this plan is enhanced by their dishonest claim that their tax plan favors its victims.  They repeat the time-worn  fairy tale:  “Don’t worry.  The millionaires and billionaires who receive this bounty will spend it on increased production of goods and services which will require increased employment of middle class workers at higher wages.”

This didn’t happen when Saint Ronnie originated it.  It didn’t happen when Baby Bush repeated it.  (Daddy Bush, while he was a loyal Republican, did not drink the Kool-Aid.)  And, of course, it won’t happen now because it makes no sense.  Employers decide to hire more workers when demand for their products or services increase; not when their taxes decrease.

Migajas de la Mesa

To pacify the working class, the GOP tax plan includes some small tax reductions for them.  For example, the Standard Deduction is increased.  Small decreases in the lower and middle class tax rates are included.  The benefits, however, are accompanied by other provisions designed to make middle class life more expensive.

The requirement that those who opt out of coverage by the Affordable Care Act pay a small penalty is removed.  This will significantly increase premiums for others who depend on medical coverage through that Act because the pool of participants will consist of those whose medical needs are greatest.  Like any insurance plan, the ACA keeps rates manageable by including low risk with high risk participants.  That principle has now been discarded.

There are other changes in the law designed to increase risk and cost for middle class and under class Americans.  Some of those issues may, or may not be resolved or changed during the next few days or weeks.  Here is an article listing some of those issues.  http://www.businessinsider.com/trump-tax-reform-plan-government-shutdown-chip-2017-11

Here is another article on this subject:

http://www.businessinsider.com/trump-top-tax-reform-bill-analysis-reviews-text-2017-11

Regardless of how some of these issues are resolved, I believe, based on what I have read and heard, the new tax law is what was easily predictable:  The GOP repaid their corporate benefactors with a tax law heavily weighted toward the wealthiest Americans  accompanied by a few small benefits for the rest of us.

This is what the Chicanos refer to as migajas de la mesa.  [Crumbs from the table].

 

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