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America currently spends nearly $2 trillion a year more than it takes in, adding to the already staggering national debt of $36 trillion. The interest alone on this debt is more than we spend on defense, and a lot of the payments go directly overseas.
So, what is the Trump administration’s response to this looming catastrophe? A tax cut that will add $3 trillion more to the debt. What with the economy faltering under President Donald Trump’s on-again, off-again tariffs; and, with the IRS facing huge staff cuts; and, with interest rates possibly rising, it’s hard to figure exactly what the deficit will be going forward.
The vast majority of these tax cuts will benefit the wealthiest taxpayers, adding perhaps a few millions to their billions. In order to partially pay for the cuts, the so-called “fiscal conservatives” have insisted on cutting food stamps, Meals on Wheels, health care, libraries and innumerable other essential services to the bottom half of the population.
To me, this is not just shameful; it’s dumb. To further immiserate those in need in order to give a little more to those who already have more than they can even spend is criminal. I believe anyone who votes for this abomination of a tax bill should be voted out of office at the earliest opportunity since they clearly do not have the best interests of the nation in mind. In fact, it’s hard to see what they do have in mind.
Peter Pfeiffer
Solon
