Republicans have finalized their tax reform legislation, and it is bad news for the average American. Although it gives a token tax reduction to most of us, the benefit is small and will gradually decrease over time.
On the other hand, this bill gives gigantic, permanent tax reductions to the wealthiest 1 percent and the largest corporations. These reductions will in time bankrupt our nation’s ability to provide services to average Americans. The reported $1.5 trillion added to the deficit will not be offset by increased financial activity in our already booming economy.
As a result, it will become necessary to cut social programs that benefit all of us. Social Security, Medicare, Medicaid and Obamacare are all at great risk.
Both Marco Rubio and Vern Buchanan have voted for this monstrosity. Come next November, it will be our turn to vote. Let’s not forget what they have done.