The proof is in the economy | Columns
Cut taxes for the rich and refuse to help the desperate, the hungry and the homeless. Give it to them and the economy will be boosted.
The proof is in the economy that the taxpayer funds paid to those at the top are not flowing. Those at the top have proven time and again that the bottom doesn’t matter to them. When President Obama bailed out the many companies, most of us remember the crazy spending and the parties they threw. Once the dust settled, they decided to increase the salaries of the best CEOs. Nothing has been learned from this, it seems.
We probably all remember the big tax cut for the rich in 2017. A member of Trump White House called a meeting and asked attendees to raise their hands if they wanted to make sure the tax breaks were delivered. shared with their employees. Out of hundreds of people, only two hands were raised. The trickle-down effect doesn’t work when it comes to the top 10% holding the bag of money.
The proof is present today. The economy surged in leaps and bounds after Congress passed the stimulus bill for the poor and lower middle classes. Without the coronavirus, more evidence would be visible. This stimulus money did exactly what it was supposed to do. It boosted the economy.
Some of the effects are obvious, others hidden, and many become clearer as we examine their personal financial forms. There was no shame. Trump told businessmen just before the bill was passed that he was going to do something big for them, and he did. He made sure that the 35% tax they had to pay was reduced to 21% or less.
Now we get a little closer to the crowd and hear the cry of the poor, the sick, the old, the children, the marginalized and the underserved calling for help with rent, food, medicine, health care and school supplies. And those same Republicans – who a few years earlier controlled the House Ways and Means Committee and the Senate Finance and Budget Committees – shouted, “No, we can’t give this group anything.” They should go out and work for what they need. (I remind you now that many of them have two jobs and still can’t make ends meet.)
A majority of Democrats have heard the cry and called on Republicans to join forces and lend a hand to these people. The answer was “No, the deficit is already too high. (Recall the big tax cut for the rich a few years ago.) The ‘no’ was followed by Senator Mitch McConnell’s famous question: “How are we going to pay for this?”
Democrats had to go it alone without any Republican feeling the pain and suffering of citizens crying for help. They received a single stimulus spread over a six-month period totaling $ 3,000 or less, depending on family size. Families had to use the money to stimulate the economy.
The 2017 tax cut was a lifelong gift to the rich. What has he done to stimulate the economy? This money is earning dividends and interest somewhere.
The 2017 tax cut did what it was designed to do. He widened the gap between the rich and the poor.
Willie Mae Samuel is playwright, founder and director of the African American Connection of the Performing Arts Inc. and winner of the Heart of the Community Award 2020. She can be contacted at firstname.lastname@example.org.