Re: “Trump tax plan calls for major reductions,” (TNT, 4/27).
So President Trump will push for the “biggest tax cut” in U.S. history. Ronald Reagan and George W. Bush both cut taxes for the rich, and both ended their presidencies with huge budget deficits.
Job creators? Corporations are using much of their already huge profits to buy back shares of stock and to buy other companies, in order to raise their stock prices, thus artificially increasing their value.
Millions of Americans are just one paycheck or emergency room visit from financial crisis. Of the $400 billion in tax incentives that help taxpayers build assets, less than 3 percent benefit the bottom 40 percent of earners.
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The U.S. already gives unearned income (capital gains) a huge advantage over earned income (from labor). The richest 1 percent of Americans take in 75 percent of all capital gains.
U.S. Senators Patty Murray and Maria Cantwell, and Rep. Derek Kilmer need to hear from us.