With oil man George W. Bush, we saw the highest oil price ever his last summer in office. With community organizer Barack Obama, we passed out more food stamps than ever.
Since businessman Donald Trump took office stocks regularly set record highs, yet he’s asking for huge tax cuts for corporations. And he’s asking me, a middle-class school teacher, to pay for those cuts through lost property tax deductions.
It is mind-boggling that the same Wall Street corporations whose leaders make the largest multiple over average employee salary in history, need me to lose tax deductions to help their bottom line. Even more insulting is the thought that about 1/3 of U.S. corporate assets have non-U.S. owners, so my taxes are being raised to enrich foreigners.
Over the years, I’ve purchased rent houses to supplement my retirement income. My property tax bill is about $22,000 or about half my take-home salary. I never expected Republicans to force me to pay taxes on taxes so they could give large breaks to people so wealthy they still owe tax after having $10 million exempted.
Throw this “reward the wealthy” plan out and replace it with one that doesn’t raise the tax rates ordinary Americans pay.