Tag Archives: Republican Budgets

27. Trump Can’t Be Bought?

28 Sep

Republican presidential candidate Donald Trump assures us that no rich donor can influence him by financial support. Hmmm. But why would that matter, since he is already one of the very rich ones. He already has their values, perhaps to an extreme.

In case this isn’t clear, just look at his proposed tax plan. True, a few more people at the lower end will pay zero tax, but the rich folk at the top will get a big tax reduction: from almost 40% to 25%. He says he will close some tax loopholes for rich people, but is very vague about the details except for hedgefund managers (not a very substantial part of the total tax income). He also substantially reduces tax rates for businesses.  He says he will make up for tax losses by making government more efficient.  Note that managing employes is not the same as managing congressmen, who make most of the important decisions.  Why should he better than any other politicians who have made such promises.  Where are the details?  He is not the first super-rich politician.

Trump would like to separate himself from other Republican candidates, but really just has the same party line: support rich people and throw a few insignificant bones to the rest of us. As for the “simplification” of tax code it only benefits rich people. Fewer tax categories is only a very minor simplification, but does not attack the major complications of defining “income” and “deductions”. Trump’s categories favor very-rich people since they are included in a category of generally more affluent people.

Trickle-down economics, the Republican way, has never helped the non-rich — even the Pope has said that.  The Congressional Budget Office provides supporting data.  This plan is very good at the first part, making the rich richer, but somehow fails in the “trickle down” part; maybe because those who implement the plan are the rich folks. I hope voters can see through the phony platitudes about winning and being the best.  We need a very competent and intelligent leader that will make the best decisions for all of our citizens, not just for our “royalty.”