Who Will Pay for the GOP Tax Cut?

“You cannot get the national debt under control, you cannot get that deficit under control, if you don’t do both — grow the economy, cut spending. We’re going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit,” ~Paul Ryan

Paul Ryan says this, at the same time he pushes a tax cut for corporations and billionaires.

The House and Senate are working furiously, with hopes of having a final version of the GOP tax plan signed before Christmas.

The meatiest part of the bill include—

  • A tax cut to corporations, a decrease from 35% to 20%,
  • Tax cuts for the wealthiest 1%

The bill means an increase in taxes for 87 million middle class families by way of:

  • A cap on tax deductions for homeowners
  • An end to state and local tax deductions, especially devastating for homeowners in high tax states like California, New Jersey and New York
  • The bill ends an Affordable Care Act mandate requiring everyone purchase healthcare insurance. Given the choice, many young Americans may decide to save money by forgoing health insurance until they are older. Insurance will not work if the only people paying for it are those who use it most. The result will be a sharp increase in premiums.

That last item is Donald Trump’s latest attempt to undo more of President Obama’s legacy by undermining the ACA. It will result in 13 million more uninsured Americans, bringing the total number of uninsured Americans to 41 million. This tax bill will have the same affect on health insurance the “skinny repeal” bill, which was voted down, would have had.

And about that $1.47 trillion this plan adds to the deficit—

House Speaker Paul Ryan, R-Wis., has already begun his push to cut entitlements in order to pay for those tax cuts for the only people who matter to the GOP, the wealthy.

“I think the president is understanding that choice and competition works everywhere in health care, especially in Medicare, this has been my big thing for many, many years. I think it’s the biggest entitlement we’ve got to reform.” ~Paul Ryan

And there you have it from the horse’s mouth. This tax cut takes from the poor and sick and gives to corporations and billionaires. Paul Ryan-Hood intends to cut Medicare by $400 billion, remove 5 million recipients from Medicaid and Social Security cuts will follow. Remember this— Social Security is fully funded until 2034, and after that, it is about three-quarters financed. That funding came out of your paycheck, and mine. These are called entitlements for a reason.

Other nuggets hidden in the tax bill—

  • An increase in taxes on those in the lowest bracket
  • An abortion law reclassifying life at conception.
  • A clause to drill oil in Alaska’s arctic wildlife preserve.

6000 lobbyists contributed to this GOP tax bill, and so it is designed to help them, not you or me.

What we need instead of a tax bill is a new law restricting members of Congress from taking any gift, contribution or payment, or profiting in any way from lobbyists in the future. Members of Congress seem to have forgotten who they work for.

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<a href=”https://dailypost.wordpress.com/prompts/degree/”>Degree</a&gt;

9 thoughts on “Who Will Pay for the GOP Tax Cut?

    1. Not unless they READ they won’t, Fandango. Right now they are simply buying what the GOP is pushing at them thru the twitter-finger media – and the 231,556,622 eligible voters (YES! – that’s well over TWO HUNDRED MILLION — a large majority of which were registered Democrats) who were too effen lazy to bother to VOTE last November must shoulder much of the blame.

      MEANWHILE, we have ONLY until December 14th to save Net Neutrality – and I’m not seeing a lot of blog action on that issue. Generalized APATHY has royally screwed America my friend.

      And the sleeping uglies aren’t so likely to wake up when their attention is on their Christmas trees. So this is how America falls not so slowly into the hands of the Corporate Capitalists and their fascist agendas.
      xx,
      mgh
      (Madelyn Griffith-Haynie – ADDandSoMuchMORE dot com)
      ADD/EFD Coach Training Field founder; ADD Coaching co-founder
      “It takes a village to transform a world!

      Liked by 2 people

  1. Thank you so much for bringing this all together for us, Lydia. I hope you have a huge readership. If not, I hope you are submitting to some newspapers or internet new outlets as well as your blog. I’m reblogging.

    Liked by 2 people

  2. Well written, Lydia. I spent the morning planning what will for me, as a single middle class parent, be a 17% increase in my taxes next year from this GOP tax scam. I am clueless who could possible believe the lies Ryan, McConnell and trump spew each and every day.

    Liked by 1 person

    1. You know, against my better judgement I commented on a Paul Ryan tweet last night and ended up engaging in an incoherent argument about poor people forced to pay for insurance when they can’t afford the cost of premiums. I’m writing about Ryan right now, but his tweet was a list of lies about the tax plan. Either people are still holding onto the lies because they’re better than the truth, or there are a lot of Russians posing as stubborn ill informed Americans. We are all paying for ignorance and manipulation of a fraction of the country.

      Like

  3. members of congress – all politicians (and trump has ALWAYS been a politician) – work for THEMSELVES, that’s why they went into politics – it’s the only way you can ‘work’ for yourself, pass laws that only ‘others’ have to abide by and ‘legally’ steal every dollar you can get your hands on. It’s been this way for decades now and that’s why trumpetiers voted the way they did – it’s KAMIKAZE VOTING – just do as much damage as can be done and sit back and watch the show because life hasn’t been getting any better for middle or lower income america.

    Liked by 1 person

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