The wealthiest Americans are about to get a lot more wealthy. The Trump administration is trying to reduce capital gains taxes. Capital gains is what you make on stocks. Capital gains is only paid by our nation’s uber wealthy, NPR.The fact that Steve Mnuchin and Donald Trump are actually devoting their time to saving themselves and their buddies money as opposed to crafting legislation that would improve the lives of the majority of Americans, should disgust everyone reading this. For that reason alone, congress would not approve such a measure.
However, Steve Mnuchin, Trump’s Secretary of Treasury, is looking into ways that he could change some of the provisions in the US tax code, without getting the approval of any other branches of government. Who needs checks and balances when it comes to saving money? Here is more proof that Trump is just in it for the wealthiest Americans. Everyone else could eat cake.
More than three-quarters of capital gains tax were paid by people with incomes over a million dollars,” Leonard Burman said, co-founder of the nonpartisan Tax Policy Center. “And virtually all of it is paid by people with incomes of over $100,000.” NPR
Every dollar of tax revenue is one less dollar to your kid’s school and your mother’s hospital. Republicans are always trying to paint government as evil and make it seem that our government is just trying to steal that dollar bill out of your pocket. Koch brother’s Tea Party, is the best example. The Tea Party was created by the wealthiest to encourage Americans to fight for lower taxes. The Tea Party is a beautiful patriotic comparison. Our founding fathers fought England to lower taxes. Charles Koch will always try to remind you that we gained our independence while fighting to lower our taxes!
Big government doesn’t help the middle class, it buries it. – Marco Rubio
There’s a reason we take a day off to celebrate the 4th of July and not the 15th of April, because in America we value our independence from the government, not our dependence on it.” – Scott Walker
Big-government economics breeds crony capitalism. It’s corrupt, anything but neutral, and a barrier to broad participation in prosperity. – Speaker of the House Paul Ryan
On a side note, Paul Ryan is the greatest example of republican hypocrisy on taxes. No republican is a bigger opponent of government safeguard programs like Welfare and Social Security. Paul Ryan tries to take away money from single mothers and orphaned babies and people who need them to eat and live, and instead, hand it over to people like Jared Kushner and Donald Trump. That is all republicans care about. However, read this article I wrote a while ago and you’ll see how especially disgusting Paul Ryan is.
The only way republicans can pull the wool over their constituents, is by making everyone hate the government. As a result, the swarms of uneducated republicans consider it a victory, when their elected politicians cut their taxes by two dollars. Don’t worry about the police funds and fireman funds that won’t get paid, as long as less of your money is going to the corrupt government. Meanwhile, government programs like Social Security and Medicare, are the most dependent programs in the nation.
The real irony here, is that Trump has ballooned our deficit. Corporate taxes have shrunk to record low levels, which means the deficit has ballooned. Trump’s biggest “victory” was undoubtedly his tax cuts, which lowered the corporate rate from 35 to 21! As a result, we can’t pay our bills, so Trump is just flipping them down the road to our kids and grandkids. The deficit is nearing an epic $1 trillion!
You see the contrast here, right? Republicans are always fighting big government. But under Trump, government has risen to epic proportions. The real kicker though, is if you think about how ginormous our deficit is, but at the same time we are paying record low taxes. That fact should petrify any American that cares for their country.