Donald Trump, desperate for some kind of win after nearly a year in office, is celebrating his disastrously unpopular tax reform bill despite every reputable analysis showing that the bill will harm many Americans, and especially those most vulnerable: children and senior citizens. After a failure to “repeal Obamacare on day one,” Trump really needed to get something passed, no matter how bad and ill-advised it may be.
Trump loves to shift blame on the media and the Democrats, who he sees as endlessly teaming up against him and his agenda. He fails to ever mention that the reason his “enemies” are decrying this tax bill is because of analyses that show how dangerous and harmful it is to average Americans and its catering to the GOP’s wealthy donors.
The Congressional Budget Office (CBO), who are generally relied upon to assess and provide guidance on the economic impact of legislation, determined that the rich will benefit and the poor will suffer under Trump’s Tax Cuts and Jobs Act.
‘By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill…By 2021, Americans earning $40,000 or less would be net losers, and by 2027, most people earning less than $75,000 a year would be worse off. On the flip side, millionaires and those earning $100,000 to $500,000 would be big beneficiaries, according to the CBO’s calculations.’
The bill’s popularity among American voters reflect that assessment.
The Joint Committee on Taxation pointed out the misleading claims about the tax reform plan touted by Republicans as good for the economy in the long-term, promising that it would not add anything to the national deficit, which was a major concern to the “fiscally conservative” GOP every time President Obama proposed reforms to help American citizens.
‘Senate Republicans’ $1.5 trillion tax cut would not pay for itself, according to a report released on Thursday by the nonpartisan Joint Committee on Taxation. The report is a significant setback for Republicans, who have asserted that the tax cuts would grow the economy enough to cover the cost of the plan.’
Republicans can ignore those analyses and insist that these groups may be partisan (they aren’t) and biased against Donald Trump’s agenda (which is absurd). They cannot, however, argue the same about the AARP, whose president came out in full disagreement with the GOP’s plan due to its impact on vulnerable seniors.
‘Medicare is being targeted by key congressional leaders for a sweeping set of changes that would dramatically increase healthcare costs for seniors and ultimately leave them paying more for their healthcare while getting less.’
Republicans like Speaker Paul Ryan, who has dreamed of cutting healthcare programs relied upon by seniors and children since his college kegger days, can continue to spout dreams of how this bill will boost the economy and “put more money in the pockets of the average American,” but that simply is not true. Any actual cut to the average American’s taxes will be offset due to the potential cuts to Medicaid and Medicare and cuts to the Affordable Care Act, which will effectively killed by repealing the individual mandate, and which has helped 13 million Americans have access to medical insurance. Meanwhile, the GOP has still not worked on funding CHIP, a program that provides medical insurance coverage to children.
While the GOP can continue to blame Democrats, and insist that the “results will truly speak for themselves,” the truth is that the results have already been projected and they are only good for the wealthiest Americans.
Senate Republicans just passed their tax reform bill. What an utter disgrace. pic.twitter.com/GCnWnPW93H
— Bernie Sanders (@SenSanders) December 20, 2017
Twitter users weighed in with their thoughts, most of which were intelligent enough to consider the actual analyses instead of trusting Republicans who have caused significant harm to the economy before.
You can say all you want that your tax scam is a good thing but it’s not. Whether you want to admit it or President Obama is the main reason for our economy right now!!! Now that’s the Truth and not fake news! #TrumpRussia #PutinsPuppet pic.twitter.com/JZiNLzRpip
— Good Girls Revolt Too (@ElleBarrington) December 20, 2017
— BlueTexan??? (@lkjtexas) December 20, 2017
Featured image via Getty/Mark Wilson