Middle class needs to speak up now
Dec. 7, 2017 at 4:06 p.m.
Editor, the Advocate:
The middle class is roughly defined as the 60 percent between the bottom 20 percent and the top 20 percent of the population. The middle class took the brunt of the 2008 financial crisis. They lost their savings, homes, retirements and jobs. The U.S. government (that's us) incurred trillions in debt to avoid a major depression in our economy.
People contributing to the 2008 financial crisis were never held accountable. These same people are now Trump appointees. Voters of the 2016 presidential election did not drain the swamp. They loaded the swamp. Most of Trump's appointments are well-to-do businessmen who have an agenda to create legislation for their benefit. No lobbyist needed.
The tax cut being voted on this week is another example of the middle class being scammed. The top 20 percent of the population will get a tax rate cut from 35 percent to 20 percent without giving up any tax deductions or loopholes. The middle class is not so lucky. They will get a doubling of the standard deduction ($6,300). But the middle class will have to give up deductions: personal exemption ($4,050), medical expense and student loan interest. They will be limited on the property tax deduction. All for a tax cut that can't pay your monthly electric bill and will add $1.4 trillion in debt. Based on a population of 300 million U.S. citizens, each citizen would incur debt of $4,667.
They are scamming us again. The debt will have to be paid. Next year, they will tell us programs for education, Medicare, Social Security, infrastructure, etc., will have to be cut. Medicare and Social Security are not a gift from the government. These are programs every working citizen paid into their entire working life. They are programs the government raided and left an IOU.
The middle class needs to get involved now. Call your senator and representative. Tell them "no" to tax reform. If you do nothing, the top 20 percent of the population will take the middle class for trillions again. Their tax cut can be invested anywhere in the world with lower labor cost than the U.S., buy back their company stock, invest in the stock market, or increase their CEO's pay. They are not going to raise your wages out of the goodness of their hearts.
Trickle Down economics doesn't work.
Janice Ullman, Victoria