Here and below we have a couple of short ( 3 minute and 4 minute) videos with Robert Reich explaining just how the proposed tax cuts will only do just what we would expect Republican tax proposals to do – make the rich richer, the poor still poor and bankrupt the country. Or in short – they will rob us blind.
When deficits spiral out of control even worse that they are now – and a Democrat is president – Republicans will once more find their deficit hawkishness and will once again offer their “stop the deficit” prescriptions. Those prescriptions are to steal from the pots of money we have saved up for our old age called Medicare and Social Security. Along with that they will claim we can’t afford Medicaid. Also they will claim we need to cut any safety net programs including veterans programs.
Iowa State Senator Rob Hogg sent this appeal to contact your senators and representatives this week:
With Republican control of government at both the national and state level, there is a grave danger of so-called “tax reform” that cuts taxes for the wealthiest individuals and corporations, blows an even bigger hole in the national debt, and deprives Iowans of even more vital services.
At the national level, we have just a few weeks to stop the proposed Republican tax cuts. With the national debt already more than $20 trillion – that’s $20,000,000,000,000, or more than $60,000 per American – we simply cannot afford to give up the revenue that would be lost if Republicans cut taxes for wealthy individuals and corporations.
If Congress drives up the national debt, it would result in less economic growth, less money for disaster relief and disaster preparedness, and even less assistance for Iowans for education, health care, and other vital services.
Many Republicans in the U.S. House and U.S. Senate have prided themselves on being “fiscal conservatives.” Now is the time for them to stand up and show they mean it by voting “no” on the reckless tax cut proposal.
Ask our members of Congress to “oppose any tax cut that would add to the national debt.” Here are the numbers to call:
- Washington, D.C., offices:
- U.S. Representative Rod Blum, 202-225-2911
- U.S. Representative Dave Loebsack, 202-225-6576
- U.S. Representative David Young, 202-225-5476
- U.S. Representative Steve King, 202-225-4426
- U.S. Senator Joni Ernst, 202-224-3254
- U.S. Senator Chuck Grassley, 202-224-3744
- Iowa offices:
- Blum, Cedar Rapids, 319-364-2288
- Loebsack, Iowa City, 319-351-0789
- Young, Des Moines, 515-282-1909
- King, Sioux City, 712-224-4692
- Ernst, Cedar Rapids, 319-365-4504
- Grassley, Cedar Rapids, 319-363-6832
If you are looking for more detail about the proposed tax cuts, here is an article from the Center on Budget and Policy Priorities: www.cbpp.org/research/federal-tax/republican-leaders-tax-plan-would-deliver-large-tax-cuts-to-the-wealthiest.
As the article discusses, the four key proposed tax cuts that would disproportionately benefit the wealthiest individuals and corporations are:
- A new “special” 25 percent tax rate on “pass-through” income.
- Eliminating the estate tax on estates over $5.5 million (individual), $11 million (couple).
- Reducing the top corporate tax rate from 35 percent to 20 percent.
- Reducing the top individual tax rate from 39.6 percent to 35 percent.
In addition to stopping the proposed tax cuts, I also believe Congress should be looking for efficiency improvements and spending cuts, especially in less-essential areas of government, to further reduce the deficit. If you have suggestions, send me an e-mail, and I will prepare a list of ideas to share.
Please call Congress today for fiscal responsibility and to oppose tax cuts that add to the national debt.
Hogg also added:
Dangers of “Tax Reform” in Iowa
Advocacy is urgently needed at the national level, but we also need it at the state level. On Saturday night, after the Iowa-Minnesota football game, I heard a radio advertisement by the Koch Brothers-funded organization known as “Americans for Prosperity” urging state tax “reform” right here in Iowa.
Under the Reynolds Administration, the Iowa budget is already a mess, with large cuts to public safety, education, health care, and natural resources. Earlier this month, expected revenue for Fiscal Year 2018 was reduced by another $133 million.
We simply cannot afford more tax giveaways to wealthy individuals and corporations. Please speak up with legislators of both parties to make sure that any tax “reform” is fair and does not deprive the state of much-needed revenue.
Finally let’s hear from a billionaire who calls this current scheme just what it is: BS! (3 minutes)