Senate Republicans have approved a massive tax overhaul that provides more than $1 trillion in tax cuts over ten years.
Letter to the editor:
Congratulations to Republicans. They finally managed to pass a big bill — in the dark of a Friday night with so many amendments that not a single senator understands the full implications of what he voted for.
The GOP’s one legislative triumph transfers an enormous amount of wealth to the very rich, gives middle-class taxpayers a small and temporary tax break, increases the national deficit, and will boost the economy only slightly. So much for fiscal responsibility, integrity and, for that matter, caring about the average American. Everyone who voted for this bill and its House counterpart should be completely ashamed of themselves.
Ken Warner; Traverse City, Mich.
Comments are edited for clarity and grammar:
The top 20% pay 84% of all tax revenue so they, too, deserve a tax cut. The issue here is not revenue, it has always been spending!
Congress spends too much, and its members can’t agree on one penny of cuts. The government takes in the most revenue of any time in history, but it also spends more than a trillion more per year. It is past time to cut and feel the pain of spending. The national debt of $20 trillion is growing, and interest payments will become larger every year. There needs to be 5%-10% cuts in every government agency to reduce the size of government, and Congress must reform entitlements to reduce future debt. Will the two parties agree? No.
— C.W. Hensley
Letter to the editor:
One version of the Republican tax plan was passed by the Senate literally under the cover of darkness on Friday. The 479-page bill even had scribbles in the margins. But darkness can not hide the hypocrisy woven throughout the tax plan. A so-called huge middle-class tax reduction is really just a massive giveaway to the wealthy. The wealthy would greatly benefit from the doubling of the estate tax exemption and the reduction on the income tax rate on businesses that “pass through” their profits to their owners. Some in the middle class get a small tax cut, but give up the ability to deduct state and local taxes and…