For the people…or not?
Senate passes Tax Reform Bill
December 13, 2017
On Dec. 2, the Senate passed the tax reform bill which seemingly marked the end of the middle and lower classes as we know them.
We almost made it to Christmas, a time for spending way too much money on presents, before this wrecking ball smacked us into the snow.
Alas, America is brave. America is beautiful. America does not care about the working class, and Santa is an orange fake blond who comes bearing gifts of taxes.
I may be a little dramatic here, but there is some serious opposition to this bill. There is a reason this new bill is infamously being dubbed the #TaxScamBill. As we all know, when something is put on Twitter, it is important, factual and appropriate.
Let me break this down for you. While understanding the effects of this bill should be simple and effortless, this is most definitely not the case.
In all seriousness, some of the ideas behind this bill are important and should have been established long ago to constitute significant changes to the tax system. Tax breaks are long awaited by American citizens.
The tax reform bill intends to create a number of tax breaks for the middle and lower classes, benefiting these families for the first several years the bill is in place.
Lower taxes sounds beneficial, but come 20 years, the bill will result in the redistribution of wealth from lower and middle class families to corporations and businesses, according to The New York Times. Additionally, the bill could ultimately increase taxes for the very people that it intends aid by increasing the tax deficit.
These individual tax cuts are set to expire in 2025, and the question of who will eventually pay for the $1.5 trillion of debt accumulated to allow for corporate tax cuts bewilders me.
$330 billion would be lifted from this debt instantaneously with the repeal affordable healthcare, according to Vox, but of course, the lives placed in peril are just an afterthought.
It is hard to tell what will happen in the future, but it’s safe to assume that the middle and lower classes will not be victorious in the end. Why we can’t create a tax reform bill that actually reforms the tax system beats me.
It feels like all Santa can deliver this year is a giant red bag of lies. The bill is meant to decrease taxes, but in reality, it’s just covering up the Republican agenda.
Concretely, this bill will provide a number of tax breaks for middle and lower class people for a finite time, repeal affordable healthcare like Obamacare and give the people’s money to corporations.
With the victory of Doug Jones over Roy Moore in Alabama for a seat in the Senate yesterday, many people opposed to the bill have the smallest shred of hope. Jones can change the previous vote of 51-49 to 50-50, but this could be challenged by Vice President Pence’s vote. Additionally, the Senate is pressing to get this bill signed by the president prior to Jones taking his seat in January.
This minuscule shred of hope is not promising in reversing the effects of the Trump administration.
With the threat of net neutrality’s extinction, the repeal of Obamacare and a less than reassuring tax reform bill, families across the country will soon be scraping the bottom of the money bucket for any spare change.
Contact the writer, Isis Amusa, at firstname.lastname@example.org
All photos courtesy of Creative Commons.