It has long been the strategy of right-wing extremists to use the power of government to carry out their corporate agenda. The wealthiest 1% who seek only to enrich themselves view government programs like public schools, Medicaid, and Social Security as barriers to maximizing their profits.
This administration’s tax plan is the latest attempt to carry out that agenda with $3.7 trillion in proposed cuts over the next 10 years. Two-thirds or $2.5 trillion will be cut directly from programs that serve low- and moderate-income families. The result will be more uninsured families, less food assistance for those in need, and less access to job training and education programs that currently help lift people out of poverty.
In an attempt to broaden support of the plan, there are modest provisions that may provide some short-term benefits to working people, but these are designed to decrease over time whereas benefits to the wealthiest Americans will continue to grow over the next 10 years. In Alabama, 48% of cuts will go to the top 1%. These cuts will amount to an additional $40,000 annually for the top 1%, growing to $58,000 over the next 10 years. The middle 20% would receive an average tax break of only $650 which decreases to $300 over the same period.
This all comes at a cost of inadequate state budgets and cuts (now and in the future) to basic services that are of particular importance to small town and rural residents. Our communities need more jobs not fewer. We need programs that increase services to counter the growing opioid epidemic and provide education and training opportunities that will lead to more innovation.
Corporations and the richest 1% don’t need more tax cuts. To pay for their corporate agenda, everyday working will people will have to pay more ($500 billion more!) for fewer services and a lower quality of life. At Hometown Action we are committed to fighting corporate power in all its forms to build a world that puts people over profits and provides opportunities for everyone to thrive. Sign up now to join the fight.