Politics & Government
Ahead of the State of Union-is 2% enough trickle-down to help US
Massive tax breaks to the wealthy & corporations have clearly filled their pockets more nd widened the wealth gap, but has it trickled down?
Trump speech tonight will surely try to echo his campaign claims that despite being super rich and rarely giving anything to charity, that he alone could help the working and middle class. He promised a massive tax cut for the middle class but instead created temporary cuts for some (at the expense of losing deductions) while giving corporations and wealthy massive permanent tax cuts while keeping (and yes actually expanding their deductions). There was no requirement to increase wages, jobs, benefits, or invest in US.
Trump will proudly boast about the few that have decided tog ive a small portion of their massive tax breaks to people in form of bonuses. Well, how does that claim add up, lets look at the numbers:
- over 3500 corporations reap 40% tax cuts
- tens of thousands of pass thrus reap 40% tax cuts
- BUT only 70 announced bonuses, raises or investments
Whats the math on that return? To be as fair as possible lets just include the public companies, so that comes out to 2%, are giving some back. https://www.bloomberg.com/news...
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I dont know how Trump will change or argue these numbers, but numbers dont lie, 2% is abismal. Elections ahve consequences, and this one appears to ahve resuolted in a widening of the wealth, gap with unsuccessful trickle down propaganda.
So far, america has lost $1.4 TRILLION to the rich and corporations, and we still have not done anything to address:
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- expanding debt
- road, rails & bridge infrastructure affecting safety, travel and businesses
- drinking water is still not available to hundreds of thousands of americans
- puerto rico is still without water or electric
- Parks are $14 Billion behind in scheduled maintenance
And these are just a few highlights, all of which, should be addressed before spending on a wall, that will be inneffective, steal americans property rights, ruin several environments, and cost $25 BILLION, all at a time when such immigration is near all-time lows.