The Reality of the Trump Tax Reform

By Lawrence Lease on January 11, 2018

The reality of taxes is that they are pretty much theft. It’s the government stealing your money. They work like the Mafia with protection and extortion money but instead of their thugs just beating you up, they send their thugs to put you in jail.

With the new tax reform, the U.S. government just changed the way they actually steal your money and ultimately taxes suck. What really matters at the end of the day is the good and bad and how it affects you in addition to Trump’s campaign promises related to the issue.

In reality, the truth is somewhere in the middle and that is that we’re all screwed economically anyway. Some people are going to be screwed faster than others. On Wednesday, Congress approved and President Donald Trump signed his biggest piece of legislation. As usual, there’s a lot of confusion and chaos around the new tax rules.

via Pixabay.com

Donald Trump is saying that this is the biggest tax plan cut ever in U.S. history, and that is not true. The biggest winner of this new tax plan is corporate America. The group largely made up of globalists. According to many people’s opinions, the loser here is the individual taxpayer. Especially in the long run since tax cuts for individuals will slowly decrease over time and end altogether in 2025.

There’s no denying the benefit to multinational corporations with this new tax plan, like Apple which is set to make $47 billion in extra profits and revenue from this new tax legislation. The bankers also get a handout with their cut that will help them compete better with lower taxed and international arrivals.

I believe the biggest meat-and-potatoes aspect of this entire tax reform is that ultimately it benefits the 1% that gets 83% of the gains from this tax bill, while it will actually increase taxes on 53% of America by 2027 with most of the benefits in the long term going to the top 1%. The plebeians and the pleads do get a short tax break in the short term and there are some temporary single digits tax rates decreases. They also get a few tax credits, home mortgage interest deductions. However, most of the cuts go to the wealthy. The latest tax bracket charts show that it’s not looking good for the average Americans.

This is actually a great departure from what President Trump actually ran on and the promises he made when he was campaigning to be President of the United States. Promises that even his White House chief strategist Steve Bannon made when he was calling for unraised taxes on the rich. Steve Bannon wanted to impose a 44% tax bracket, which of course was echoed by Donald Trump on the campaign trail, where he railed against the globalists and bankers. He was able to motivate middle America to actually vote for him because of these promises and he changed his mind.

Of course, this never happened and now we have the complete opposite of that, but once again 83% of these tax benefits are going to the 1%. Which is why people like Bernie Sanders are saying that this new tax bill is a victory for billionaires like Donald Trump and a disaster for the American people.

Some people are calling it an absolute nightmare. I could see why people are sympathetic to that point. In the United States, the gap between the poor and the rich is widening while the middle class is being eviscerated and destroyed mainly because of government regulation grants and incentives that help out the people who already have enough power and money.

They’re mainly doing it for multinational corporations, that send money and funnel it in through government that allows these practices to continue and get worse. We’re on a pathway where America’s rich get richer and the poor are soon going to be replaced by robots. The richest 1% in the United States already own more wealth than the bottom 90%. Now with this new tax bill, the government will be receiving less money which I think overall is a good thing.

But now the money that was potentially going to be there will now be mainly distributed among the very few and powerful, especially in the long run. I don’t see that as a good thing overall. Hell if you’re going to give a hand up to the few and powerful multinational corporations, give the same handout and get more money away from government.

Republicans and right-wingers are celebrating this new tax bill mainly because they say that this will lead to trickle-down economics, that this will help corporate America be more competitive in the international world and of course that these big corporations will pay it forward and help out the average American. We’re now seeing great PR around this. AT&T just announced that they’re giving $1,000 bonuses to all 200,000 of their employees and increasing its capital expenditures budget by $1 billion in the United States.

Now, of course, they announced this as a response to the tax reform bill actually passing. However, interestingly enough their decision to spend $1 billion dollars in investment in the United States was actually announced six weeks ago. They reiterated it right now to make a bigger PR move. Of course, AT&T needs to suck up to the government right now since they are seeking a favorable decision by the U.S. Justice Department on their proposed $85 billion merger with Time Warner.

Do you see the back scratching that’s happening here? One person scratches your back, another multinational corporation just buys you off with good PR and there we have crony capitalism. Now there are also other important aspects that you should know about when it comes to this new tax reform bill.

One of them is the Arctic National Wildlife Refuge will be open to oil and gas exploration that will begin Wednesday morning. The tax reform bill also repeals Obamacare individual mandate, which means now the government won’t be able to fine you for not paying insurance. So now you are no longer extorted by the government to buy medical insurance.

Now overall, I think that’s a great thing, especially with how corrupt and asinine our entire medical system is anyway. The Senate’s official scorekeeper has said that this new tax plan will add one trillion dollars to the deficit. Hell, what’s one trillion when the United States is already in $20 trillion dollars of debt? The government already borrows money up the wazoo to finance the military-industrial complex.

There are already secret black budgets, no auditing of drug trafficking happening the name of the government. The United States is already in the huge financial mess that is impossible to fix and is only being made worse by the government. In the United States already almost 50% of American households don’t pay any taxes at all. Most of them even receive a check from the government. Of course with the purchasing power of the US dollar going dramatically down, it is only a matter of time?—?all the cards fall down.

In a just beautiful and amazing world, we wouldn’t have any taxes to an institution that just puts us into more debt. Be smart with the purchasing power of the U.S. dollar going down. Don’t forget to invest in gold, silver, Bitcoin and altcoins. foreign currencies. Diversify as much as you can and of course don’t be a dumbass, always invest in things that you can afford to lose.

Born and raised in Wasilla, Alaska. I am citizen journalist and looking to find a official paying journalism job somewhere in the country. I enjoy watching TV, reading books and traveling.

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