For the last 40 years today’s Republican Party in Name only ignored the majority of Americans and found new and more deceptive ways to funnel your tax dollars to the one percent of our wealthiest citizens. The current pandemic and its effect on our economy will devastate our nation for years, but this hasn’t stopped the right-wing from continuing to protect the bloated profits of the super-rich.
1) Republicans used the massive coronavirus relief package passed in late March (the CARES Act) to slip, at the last minute, more than $100 billion over a decade to households earning more than $1 million per year.
2) Republicans used the CARES Act to attack the few measures from the 2017 Trump Rich Man’s Tax Cut that were designed to bring in at least some revenue from multimillionaires.
3) Senate Republicans would have needed 60 votes to pass Trump’s Rich Man’s Tax Cut—which they didn’t have—unless they inserted revenue-raising provisions that they knew they’d later find a way to repeal. They then took advantage of the pandemic to do so
If you vote for Republicans in November, don’t expect a thank you from the one percent. They expect special treatment from one entire political party. As the middle class disappears, the United States is becoming a third world country. Income inequality has become the number one problem facing our nation’s future. More than 50 percent of our nation’s 330 million people live below the poverty line or are considered low-income. Unbridled capitalism, aided by the GOP, has destroyed the American dream.
The destruction of democracy for most Americans began with the exit of manufacturing in America. As the garment, electronics, and automobile industries opened factories and plants in foreign nations to take advantage of cheap labor, the quality of life in our inner cities declined immediately. This fact created a need for more costly social programs.
In 1981 Ronald Reagan cut the corporate tax rate nearly in half. Although records prove that the average corporation paid 18 percent annually, Trump’s continuation of Republican’s policy of “trickle-down economics” reduced the maximum rate of 35 percent to just 21 percent in 2018. This failure to understand economics in America allowed large corporations including Amazon, and Walmart to pay zero taxes in 2019. This foolish decision added one-trillion dollars to the deficit, and this will continue through 2025. Another Republican president is bankrupting America.
Trump brags about the economy constantly, However, prior to the coronavirus crisis, our nation’s economy began to nosedive based on Trump’s gifts to the wealthy. The orange buffoon will lie and claim that this pandemic is the sole reason for the economic downturn. However, long before the virus invaded America, economic experts predicted another recession. Trump simply “doesn’t know what the hell he is doing.”
Op-ed by James Turnage
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