Trump tax cut didn’t quite trickle down to you, did it?October 23, 2018
To the editor:
How is that big raise from your employer working out? You know, the one that The Donald Party promised you in their tax scam. Maybe you received a one-time bonus that equals four hours a week extra pay for a year. What? You didn’t get the $4,000 a year every year that Paul Ryan promised?
Here’s why. Employers spent 101 times more tax savings on stock buybacks than on worker bonuses and pay raises — $712 billion to buy back stock and $7.1 billion on workers pay. You see, when a company buys back shares, the share price goes up. When the share price goes up, guess who gets a big fat bonus of millions? The CEO. And a few hundred thousand in crumbs to his lieutenants. This sounds like it should be illegal, doesn’t it? It used to be until Republicans, with help from big business allied Democrats, made it legal during the Reagan years. The Donald and Paul Ryan told you that wealth trickles down. Reagan knew that it trickles up, and you got trickled on by The Donald. Buybacks enrich shareholders.
Here they go again. This time you are not the target, only cuts to your Social Security and your Medicare and grandma’s Medicaid which pays for her nursing home. Now that the tax scam has increased the federal budget deficit by $222 thousand million (billion), The Donald Party is proposing a new tax cut, Tax Scam 2.0, that would add another $2 thousand billion (trillion) to your federal deficit over the next 10 years.
It is increased worker pay and increased corporate shareholder investment in job generation that Republicans, now The Donald Party, have repeatedly promised would be the trickle down. They have always known it was a scam because wealth concentrates upward. Corporations are legally bound — and wealthy people invest — in order to make profit, not in order to create jobs and increase middle class and underclass pay. This is the secret that wealth possessors know and non-wealthy people are not told. As easy as stealing a fiver from a blind busker’s guitar case.
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