Republican Tax Plan Will Have Devastating Impact Across Society: Trickle-Down Economics Redux

Diane Ravitch's blog

The Republican Tax Plan will have devastating impact in many sectors of society, including education and healthcare. It will dramatically increase income inequality, by reducing taxes on the wealthiest and on corporations. The Republicans blithely assume that cutting corporate tax rates will lead to more job creation and economic growth, but past experience suggests that the bonuses for corporations will fatten profits for investors and have minimal impact on jobs.

“The tax plan has been marketed by President Trump and Republican leaders as a straightforward if enormous rebate for the masses, a $1.5 trillion package of cuts to spur hiring and economic growth. But as the bill has been rushed through Congress with scant debate, its far broader ramifications have come into focus, revealing a catchall legislative creation that could reshape major areas of American life, from education to health care.

“Some of this re-engineering is straight out of the…

View original post 608 more words

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s