Tax season always make me moody, but I appreciate the fact that my taxes—at least until Trump’s tax plan was passed—fund investments in our country like building roads, hiring teachers, and getting my mail delivered. But this tax season, I’m feeling extra grumpy because now my taxes aren’t going toward the collective good of our country. Instead, my tax money is financing Trump’s $1.5 trillion bailout for the rich.
With virtually no debate, Trump and his GOP buddies in Congress passed a sweeping overhaul to the tax code in December called the Tax Cuts and Jobs Act (TCJA). Even though Trump promised the tax cut would benefit middle-class Americans, the tax reform was actually written to line the pockets of the top one percent of Americans, corporations, and their stockholders.
And the rest of us will have to pay for it because the tax cut will increase the federal deficit and force cuts to future spending on social programs like education and Medicare.
Tax cut? More like a tax scam.
I did notice an insignificant increase to my earnings on my paycheck at the beginning of the year. It was literally enough to buy a couple more bottles of wine every week. Let’s face it, I’m gonna need ALL the wine to cope with the ever growing disaster of the Trump presidency.
It turns out I wasn’t alone in my non-astonishment over my “increased earnings.” Recent polling from Politico indicates that only one quarter of Americans have observed an increase in their pay. The increase for most middle class Americans is so negligible that they, like me, didn’t really notice.
Ernie Tedeschi, a former economist with the Treasury Department, tweeted that 75 percent of American families would get less than $50 every two weeks on their paychecks because of the tax scam. The families that barely make ends meet (earning less than $25,000 annually) will only get $40 from the tax cut for the year.
How the President and his cronies are looting our country
Trump alone stands to make $11 million from the TCJA because the reform drastically cut the corporate tax rate from 35 to 21 percent, saving the country’s 500 largest companies about $150 billion a year.
Republicans argue that cutting corporate tax will create job growth and boost wages, but so far only 39 of the 500 companies that benefited from the tax cut have used the extra money to hire workers and increase their pay, according to USA Today.
So, rich people need to make more money and poor people don’t need more money? Us poor folk could use some extra cash to help us get by. Most of my income goes toward paying my rent, my student loan, my car, my groceries and other bills. I don’t have much left over after that.
The tax cut is a direct attack on our nation’s health
Thirteen million people will lose health insurance because of the Trump tax scam.
Medicare and other social program are at risk because of Trump’s tax cut. My parents just turned 65 and Medicare has been a godsend. They’re not rich and the money they save by being on Medicare helps their fixed-income budget as retirees.
My parents worked incredibly hard their entire lives, paying taxes, and contributing to their community. Mom and Dad deserve Medicare. Also, I would really like it if Social Security and Medicare were still around when I retire. I’m pretty sure I’ll never get rich and I’ll need some sort of return on those tax dollars I shelled out my entire life.
The Trump Chicken is coming!
Hold our elected leaders accountable for the Trump Tax Scam on Tax Day
Most Americans oppose the tax scam and this is why we need to make our voices heard this Tax Day. Join Progress Virginia and other organizations across the Commonwealth as we hold politicians like Rep. Scott Taylor accountable for voting for Trump’s tax scam.
Sign up here to find out what you can do to make Taylor responsible for his actions.