Economists and political analysts are still in shock after Trump’s bombshell tax plan. There is so much wrong with the plan that it’s hard to even write it all down. Accredited media outlets are frantically trying to communicate to the public just how terrible it is, from headlines about how Trump’s family will personally benefit, to just how impossible it will be to pay for. This is by far the most irresponsible and corrupt tax plan in American history and it should have every patriotic American up in arms and ready to impeach Trump immediately.
The plan promises to cut the top bracket of corporate tax from an already measly 35% down to an astonishingly low 20%! That means that corporations will be getting away scot-free and keeping 80% of their own profits! Let me say that again in case you didn’t get it. Corporations will get to keep 80% of their own money! This is an unprecedented wealth transfer from the poor to the rich, benefiting only the people in Trump’s income bracket, from CEO’s to hedge fund managers to overpaid corporate big shots. And guess who will be picking up the tab? You guessed it – low income proletariat workers, minority single mothers on welfare, underpaid government workers, undocumented Americans and anyone who is dependent on a strong social welfare system. Trump is taking money out of their desperate hands and putting in the hands of corporate giants who are already swimming in money. This tax plan is beyond unfair and regressive, it is a humanitarian crisis!
Small businesses and big shot contractors are now only required to pay a flat rate of 25%, so they’re getting away scot-free too. Contractors like to pretend to be businesses but in reality they are just individuals trying to game the system and pay less tax. They need to pay more just like permanent employees. Smart-ass programmers, accountants and lawyers who hide behind fake corporations while their colleagues pay much higher tax rates are weasels and need to be brought to justice.
Trump also vastly oversimplifies personal income tax, creating just three brackets of 12%, 25% and 35%, totally eliminating the intricate and sophisticated continuous tax brackets that catered for a wider range of incomes. Top earners will also be delighted to find out that they will be paying a whopping 4.6% less, while bottom earners will be paying 2% more, another huge transfer of wealth from the poor to the rich.
How is Trump going to pay for this gigantic overhaul of our tax system? What essential government services are going to have to be cut? I don’t know about you, but I’m outraged about this deeply irresponsible and regressive plan, and anyone with a sense of justice should be too!