Hultgren article wrong about tax plan

Posted1/1/2018 1:00 AM

c There's a reason for that. Republicans who vote for the bill are either drinking the Kool-Aid of the Koch brothers or are being disingenuous.

Randy Hultgren's recent article in "The Hill" falls flat. In "Tax cuts for Scrooge McDuck? Dispelling the myths of reform," Hultgren states that 50 percent of "pass-through" filers are small business owners, by which he means $10 million of revenue, and therefore the windfall they receive via the Republican tax plan is somehow helpful for everyone. He doesn't mention the other 50 percent or so of "pass-through" businesses, huge businesses that potentially save billions.

Further, if someone takes the $150,000 gain and hires workers, it would pay for only two or three, if he wants to pay a decent wage and provide benefits.

Our economy is far from stagnant. Obama correctly stimulated the economy when confronting the "Great Recession." Our economy has been improving ever since.

No reputable economist believes the Republican tax bill will benefit the economy. The $1.5 trillion added to the deficit will need to be dealt with, and Paul Ryan admitted that the intention next term is to balance that deficit with "entitlement reform," which is Republican-code for reducing Medicare and Medicaid benefits, possibly cutting back on Social Security, and certainly abandoning the ACA. (By eliminating the public mandate, Congress will ensure that insurance coverage will cost more, and many will lose their insurance.)

The "myth" of this tax reform deal is that it is not a huge giveaway to the top 1 percent, most of whom are huge Republican donors. The wealth gap in this country has exploded since George W's tax cuts, and this bill will push that gap even wider.

Stephen Foust


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