George H.W. Bush called trickle-down economics “voodoo economics,” and cutting taxes to large corporations and the very wealthy has never worked. Never.
Have you read about the recent Kansas tax experiment? It failed. The state is hemorrhaging revenue and lawmakers in Kansas are now rolling back the tax law, a law just like the current GOP tax proposal.
As you may know, in the current tax proposal, the rate at which the top 0.1 percent of Americans are taxed is going to be cut by more than 27 times the rate at which the bottom 80 percent of Americans are taxed is going to be cut. No doubt, friends of Congress are the beneficiaries.
Oh yes, I see the GOP plan wants to repeal the Alternative Minimum Tax that acts as a backstop to prevent the wealthy with creative accountants to avoid paying their taxes.
Hmm, I see. It all begs the question: What are our Colorado representatives going to do to protect the lower and middle classes?
Dan Miller
Mancos
