In Tuesday’s column, I wondered why so few Americans looked favorably on President Trump’s tax cuts. They are, after all, cuts in tax rates.
One study even says that 143 million taxpayers will get lower taxes next year compared to only 8.5 million who’ll pay more. And still the Trump tax cuts are unpopular.
I explained that I was against the tax changes because they are going to increase the federal debt by $1 trillion to $1.5 trillion over 10 years — although we all know how Washington always underestimates the bad news.
And the Republicans could only come up with that lowball debt estimate because they robbed from some groups of taxpayers to give cuts to other groups. My contention all along has been that there was a better way to boost the economy than pulling a tax-cut shell game.
For this column, my final one of 2017, I decided to shut up — mostly — and let readers tell us what they think about the Republicans’ tax changes. And I got an earful. Here are some of the emails that are printable in a family newspaper.
John: Let me start by saying I am a huge fan and agree with your thoughts on most everything regarding the economy and politics today.
Just finished reading column regarding the Trump tax cuts or so-called tax cuts. This bill is a disaster for the hard working people that live in blue (Democratic) states.
Simply put, losing the state and local tax (SALT) deductions and keeping the Federal alternative minimum at 28 percent will cost us way more.
We had holiday dinner with business associates and the entire meal conversation was consumed with this discussion. I should also point out the entire table of ten adults voted for Trump. Everybody unanimously regrets this, although we feel we had no choice with Hillary Clinton as the alternative.
This tax bill is nothing more than a gift to large corporations and mega wealthy, who are only ones that can actually afford to pay taxes. — William DeRosa
John: C’mon John. You always seemed pretty fair and reasonable.
This isn’t about a tax cut. It’s about fairness. The so-called “tax cut” for the middle class disappears in 10 years. And 83 percent of the benefits go to guys like the Koch Brothers.
And here we go again with trickle-down economics. It’s a scam. The maniac in the White House (you proud of him?) announced this weekend that he just made the rich richer. This was about paying back his ultra wealthy donors. — Ken
John: Why don’t people like the tax “cuts”? Mostly because people really aren’t as stupid as Mitchy, Donny, Ryan and the boys think we are. We don’t like people pissing on our legs and telling us that it’s raining. — Guy R. Blumberg
John: In my opinion it’s about the lies. Forget the fact that trickle-down [economics] has never worked. Just ask Ronald Reagan’s budget director. It’s the lying.
Trump touting the fact that he and his wealthy friends will not benefit from the tax bill. At one point, when one of the bills was going to eliminate the estate tax and the alternative minimum tax, this is what Trump was claiming.
Nobody was buying that BS. It’s insulting to hear and it impacted the credibility of anyone who supported the bill. — Timothy Ball
John: While you may wonder why most Americans are against the tax plan it’s because — regardless of the crumbs given to those who work for a living — the top 1 percent literally stole money from the middle and lower classes.
Maybe it won’t show in the paycheck but it will result in more money required to service the debt that will grow over the next 10 years. In addition, the swat at affordable health care will increase the costs of insurance for many and it is estimated that 13 million Americans will forgo insurance due to cost.
This will result in more uncovered individuals at the emergency rooms that the public pays for anyway.
There is a sunset clause in the tax plan, so the wealthy and privileged get their tax relief forever but for the working man the tax relief is a chimera and will end over time.
In addition the Republicans will now say that due to the shortfall in revenues they will want to cut Medicare and Social Security. Are you still wondering why the public is opposed to the Republicans and their donors getting their noses into the public trough? — Joel Walfish
John: Why are so many mad about tax cuts? Because they’re welfare-collecting Democrat parasites who know tax cuts will inevitably lead to cuts in their handouts, as they should. — Richard Limmer
John: Your column about why we hate the tax cuts proves you are either a complete hypocrite, or a fool.
There is no evidence that trickle-down [economics] works, and plenty of evidence to prove it doesn’t. With this tax bill, the deficit will grow so much larger the scumbags in Congress will pursue cuts to Social Security, Medicare, and Medicaid. And kids will become indentured servants if they want to go to college.
I sincerely hope people in your family lose their health care, and your kids and theirs end up in bankruptcy court. — Jeff Putterman
John: Why is a moderate Republican upset about the tax bill? Let me count the ways: carried interest unchanged; 529 benefit for private school parents occupying “the swamp” and a great deal for real estate investors.
Meanwhile, they are capping my property tax and mortgage interest deduction. The “savings” I will get have already been taken from my bank account by the higher health care insurance rates on the exchanges — the only source of insurance for millions of self-employed Main Streeters.
Moreover, it was a pure exercise in political power by a gerrymandering party that didn’t win the majority of Americans’ votes and cares only about the monied wing of the Party.
Not fair, not simple, not sensible, not what we voted for. Geez, why is it even a question?! — Jeff Wack
John: I appreciate your story “Why are so many Americans angry about a tax cut.”
However, there are some points that need to be reconsidered. For starters, you failed to mention the rhetoric campaign by the media and the left (they are indeed one and the same) to disparage anything that comes from the right, especially Trump’s initiatives.
Secondly, you referenced your opposing the tax cut because it will add $1.5 trillion to the debt over ten years?
Sir, isn’t that an assumption? Doesn’t that estimate fail to consider growth and repatriation of tax revenue as a consequence of reducing corporate rates? — David Silverstein
John: I can only speak for me but here’s why I’m not happy about the “tax cut”:
One, the sales pitch is a lie.
Reducing taxes on the wealthy and businesses won’t lead to more jobs and it isn’t going to help the economy grow materially faster. The code has been made more complicated.
Inordinate amounts of time, money and effort will be spent exploiting the difference between individual and pass-through rates. The cost of the “cut” in terms of revenue loss is probably understated.
Two, the workers who were expecting a revival of good-paying jobs that only require a high school diploma are going to be in for a surprise. Businesses will use the immediate expensing of capital equipment to replace low skilled workers with robots. Funds to train those displaced workers are being cut from Trump’s budget.
As far as the Trump haters go, Trump can solve that quite easily by buttoning his lip and easing off on Twitter.
I don’t know how much you get out but I travel a bit outside the US, and lemme tell you the rest of the world thinks we’ve lost our minds. — Jack Ellis
There you have it. The people have spoken. Even if you are unhappy, try to have a Happy New Year anyway.