This letter is in response to a letter written by Rep. Doug Collins and published in several North Georgia papers last week about the Republican tax bill. Rep. Collins makes several questionable and misleading statements.
First, Collins said that we are recovering from an eight-year period of “hollow leadership,” of course referring to President Barack Obama’s administration. He fails to mention or conveniently forgets that Obama was handed a country in extreme crisis in 2009. We had just entered the worst recession since the Great Depression caused by the lack of regulation and mismanagement of the economy by the Republican George W. Bush administration.
Bush left him with unemployment at 16 percent, the Dow at 7,000, 49 million Americans uninsured and monthly job losses in the millions each month. When Obama’s eight years were over, the Dow was at 21,000, 20 million more Americans had health insurance, unemployment was at 4.7 percent and over 17 million new jobs had been created.
Then Collins talked about how big this new tax bill would be for people in North Georgia. He gave an example of a family of four saving $2,082 in taxes each year. Anyone who knows anything about how to calculate taxes knows that the savings or increases depend on many factors in a family, ie., income, deductions, etc. So while there may be a few families that see that kind of tax break, many will see much less and others will actually see increases.
In fact by 2027, because of the way the bill is written, everyone except the very wealthy will see their taxes increase. Eighty three percent of the benefits from this tax bill will go to the top 1 percent. Lower income people they will see programs such as Medicaid, SNAP, children’s health care, Obamacare, Public Education, Social Security and Medicare slashed to cover the cuts. Additionally the cuts produce an increase of $1.5 trillion in the deficit.
He also mentions the one-time $500 bonus from a company based in Georgia. How big is the company? How many employees? What is their gross income? A one-time $500 bonus to two employees doesn’t mean a lot. In fact we need to hear that companies are going to raise beginning salaries to $15 an hour and provide insurance benefits.
But that is not likely to happen. Companies are more likely to sit on their dollars saved from the dramatic slash in corporate taxes, raise salaries for CEO’s and pass on big dividends to Shareholders. The $500 one-time bonus will not help struggling families in Georgia pay for health care, college, food, housing, etc.
He did say one truthful thing at the end of his column: The people of America who make up this a great country deserve the best. This bill delivers very little to the everyday American while lining the pockets of Trump and his rich friends who donate lots of money so people like Doug Collins can get elected.