Kendra Brown: Cites shortcomings of Republican tax plan

Published: 11/27/2017 9:53:04 PM
Cites shortcomings of Republican tax plan

The Republican tax plan will overwhelmingly benefit wealthy individuals and corporations. Benefits for the middle class are modest, and will end in just seven years.

Supporters of the plan claim, despite all evidence to the contrary, that cutting corporate tax rates will result in more hiring and higher wages. Nearly all of the CEOs in a meeting of The Wall Street Journal’s CEO Council indicated they would not hire more workers in response to corporate tax cuts, a clear sign that Republicans’ anticipation of an economic boost from this plan is ill-founded.

This plan would starve the government of revenue and accelerate increases in the deficit, leading to drastic reductions in public goods and services, as well as the jobs that go along with them.

For my family, my understanding is that the planned increase in the standard deduction would lower our yearly taxes by a couple of thousand dollars, at least while the provision is in place. A couple of thousand dollars a year is not enough to compensate for the losses in public goods and services that would follow passage of this plan.

Massive losses in government revenue will jeopardize dependable transportation infrastructure, relief for hurricane victims, good schools, financial aid for college students, research and innovation, systems that deliver clean water, and the list goes on.

These public goods give us dignity and freedom. A couple of thousand dollars a year is nowhere near enough to replace them.

Kendra Brown

Amherst




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