By the time this letter is published, the Trump impeachment trial may be over, Trump may have been acquitted and he may have delivered the third State of the Union. If acquitted, his lies and broken promises will continue.
Because of his current lie — his tax scam — billionaires are now paying a lower effective tax rate than average Americans for the first time in American history. Corporations have seen a tremendous increase in profits. The stock market has grown because the corporations have invested their profits back into their business. But most average Americans have not seen any benefit from that because 52% of Americans don’t own stock!
Trump also brags about increases in hourly wage and low unemployment. But the facts as laid out by the Brookings Institute say that 44% of Americans make less than $18,000 a year and average $10.22 an hour.
The Trump tax plan added another trillion to our 2019 debt for a total of $3 trillion since he took office. Because of the increasing debt, Trump said in an interview with CNBC on Jan. 23 that it is time to think about cutting Medicare, Medicaid and Social Security. He promised he would protect those programs — another lie. So, while the billionaires have lower taxes and corporations have higher profits, average Americans who depend on Social Security, Medicare and Medicaid will see increases in their taxes and cuts in their benefits. Luckily, we have a Democratic House, so these proposals will be dead on arrival. But Trump can still wreak havoc on these earned benefits by starving their administrative budgets and tinkering with administrative rules.
Trump promised the states they would see amazing revenue growth because of his tax plan. So, Kemp and his colleagues in the Republican-led Georgia legislature decided last year to cut income taxes. The growth didn’t happen, revenues are down, and so now Kemp has called for a 4% budget cut this year and 6% next year. Who will that hurt? Average Georgians. Where will the cuts be? K-12 education, early childhood education, post-secondary education, mental health and addictive disease services, infectious disease control, Infant and Child Essential Health Treatment Services, essential services for rural and low-income Georgia, criminal justice and public safety. You can go to www.gbpi.org for a complete list of cuts.
Happy new year from Trump and Kemp! Get ready to tighten your belts even more!