Letter: Tax laws benefit the wealthy
Editor of the Reformer:
Americans, awake! Trump said every decision on taxes will be made to "benefit American workers and American families." Read the following summary and judge for yourselves:
The Trump tax law, including the most significant changes since 1986, was passed in 2017 without a single public hearing or a single Democratic vote in favor.
Those individuals making $50,000 to $100,000 yearly saw an average tax decline of a paltry $143!
Those with incomes of $500,000 to $1,000,000 saw a decline of $17,800.
Loop holes and congressional favors allow many high-income Americans a huge break on reported income. For example, capital gains and stock dividends have been and are presently taxed at lower rates than paycheck earnings! Ask why.
Trump's tax law will require that at least $1.5 trillion be added to federal debt since it cannot pay for itself under any foreseeable circumstances. Negative effects will certainly fall on middle class and poor working citizens in the form of across-the-board reductions in vital government services ... healthcare - Medicare, Medicaid, education, VA, infrastructure (roads, bridges, etc.), public lands and parks, food/nutrition assistance for children ... the list is endless.
Overall share of American income from wages and salaries fell significantly from nearly 71 percent in 2016 to less than 68 percent in 2018.
The number of households making $1,000,000 or more but paying no income taxes, rose from 394 under Obama to 566 in 2018, accruing an average $3.5 million while contributing zero to the federal government.
In addition, Congress has cut IRS staffing so deeply that the pursuit of growing numbers of persons who have simply ceased filing returns (879,000) and owe an estimated $45.7 billion in taxes has come to a virtual halt. Personal favoritism is rampant. Pursuit of high-earning non-filers has almost ceased.
One of the Koch brothers, forceful enablers of Trump, a case in point, was under IRS criminal investigation until Trump assumed office, after which the case was abruptly dropped. Koch, a next-door neighbor to Mar-el-Lago, is said to collect more than $100,000,000 a year tax free!
Huge corporations evade federal income taxes by moving out of the US ... loss to US and us is enormous, and they are allowed enormous tax deductions for myriad expenses.
Did Amazon or Apple Pay a federal income tax? Did you?
Incidentally, check the income, benefits and perks package awarded to the Congress of the US, which they collect while reducing your food stamp allotment.
Halifax, Sept. 10
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