PEGGY RADDATZ: Don’t be fooled by Republican tax overhaul


Republicans, who used to fret over the national debt, just borrowed an additional $1.5 trillion that you and I will have to repay. This loan might be justified if it was used to fix our crumbling infrastructure. Instead of investing in America, we took on this huge monetary obligation to pay for tax cuts that overwhelmingly benefit the elite and large multi-national corporations.

Republicans are touting their recent legislation as a tax cut for everyone. Like all scams, this sounds good until you take a closer look. The relatively small tax cut that ordinary Americans receive is a gimmick. It will eventually expire. Meanwhile, much larger corporate tax cuts will be permanent. According to the Tax Policy Center, in 2018, nearly two-thirds of the benefit will go to the richest one-fifth of Americans. By 2027, over half of Americans will see a tax increase, and by that same year, nearly 83 percent of the benefit will go to the top 1 percent.

For obvious reasons, the vast majority of Americans strongly oppose this legislation. Anger over this reprehensible bill could (and should) get Republicans voted out of office in the November election.

This unconscionable tax overhaul demonstrates the tight grip that Big Money has on the majority Republican Party. The super-affluent, who just snatched more of the nation’s wealth, will spare no expense to perpetuate their political power. Brace yourself for a billionaire-funded media blitz designed to confuse facts and mislead voters in order to get Republicans re-elected. Paid pollsters, focus group experts, and unscrupulous ad-makers will be refining slick talking points that sugarcoat the damaging reality of this bill.

This reckless bill, in fact, unfairly redistributes wealth from everyday Americans to the top 1 percent. In the long run it will devastate low and middle income earners and hurt our economy. Republicans are cheating Americans who work for a living in order to enrich those in the Mara-a Lago tax bracket. Your vote in the next election will determine whether or not they get away with it.

Peggy Raddatz


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