Trump’s tax cuts mostly benefit the very wealthy

According to the Bloomberg Billionaire Index report for 2017 through Nov. 30:

• The aggregate wealth of 159 American billionaires grew by $315 billion to a collective wealth of $2 trillion;

• Jeff Bezos added $34.2 billion to his total wealth of $99.6; and

• Mark Zuckerberg added $22.6 billion to his total wealth of $72.6 billion.

It should concern all middle-class taxpayers that the Trump tax reforms give Trump and 158 other American billionaires a 6.6 percent cut in their income tax rates, and a 40 percent cut in their corporations’ tax rates.

Why?

Because these specific tax rates will create a $1 trillion hole in the national debt, which Speaker of the House Paul Ryan plans to fill with “adjustments” in Medicare, Medicaid, Social Security and other welfare programs. Additionally, by eliminating the Affordable Care Act individual mandate, which is another part of the Trump tax reform plan, insurance executives tell us that health insurance premiums will increase by 10 percent in 2018.

So, if you buy health insurance you probably will not see an increase in spendable income from your tax cut. That was my experience.

Jerome Bourgeois

League City

Bill Sargent stands up

for recreational anglers

I read with interest the letter to the editor by J.T. Edwards where he praises Randy Weber and slams Bill Sargent (“Congressman Weber is the real deal,” The Daily News, Jan. 28). The problem is he cannot separate fact from fiction.

Did Weber take over $30,000 from the commercial fishermen and then speak and vote against the recreational guys on the House floor? Yes, he did — and Edwards failed to mention this.

Did Weber introduce the Go Fish Act when he realized he was in trouble with the recreational fishermen? Yes; but Edwards fails to tell you this piece of legislation never had a hearing, no action was taken, and it died in committee. It’s like Weber did it so he could say he did something.

On the other hand, Sargent, as one of the Three Musketeers, spent several months talking with commercial, charter boat, and recreational fishermen and then wrote a well reasoned and well thought out five-part series for The Daily News on the red snapper issues and posed possible solutions.

So fishermen consider this: Sargent is an honest broker. Sargent will listen to you and work with you. Sargent is about solutions, not introducing bills that sound good but go nowhere! Sargent is our guy.

Cliff Mountain

Tiki Island

Trump can always

use a few extra votes

In response to the guest column by David Michael Smith (“Mentally unstable Trump must be stopped,” The Daily News, Jan. 27): Thanks for people like him. The liberal Democrats still haven’t figured out why they lost the election.

Keep up the good work Mr. Smith.

Trump can always use a few extra votes.

Charlie Everts

Tiki Island

(1) comment

Gary Miller

Jerome Bourgeois! Numbers don't lie? It's true the biggest percentage rate cut was for corporations. Corporations are people. Since passage over 300 corporations have started sharing their tax cuts with employees. Many others are waiting on their Board of Directors to approve sharing with their workers. Since the tax bill was signed into law over a million small business have used the tax cuts to offer their employees better health care plans, or pay increases, or better vacations or all of the above. Most small businesses don't have the cash balances to give bonuses like big corporations. By the time all is done workers will see wage and benefits improve because of the tax cut far beyond the their tax cut. Unemployed Americans didn't get any tax cut but will get something worth more. JOBS.

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