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

Locations

(10) comments

Carlos Ponce

"According to the Bloomberg Billionaire Index report for 2017 through Nov. 30..."
Jerome, the Tax cuts were not in effect on November 30, 2017.Other factors contributed to the increase in each wealth mentioned - but NOT the tax rates. Look at the calendar. And the "hole" will be filled with repatriated money and a boost in the economy. Pay attention to REAL news sources.
"So, if you buy health insurance you probably will not see an increase in spendable income from your tax cut. That was my experience." Try a different insurance, Jerome.
"My mama told me, you better shop around, oh, yeah, you better shop around.
You try to get yourself a bargain son.
Don't be sold on the very first one.
Insurance plans come a dime a dozen,
Try to find one who's gonna give you some savin'."

Don Bette

It's too bad the News can't pre-qualify writers like Jerome....Social Security is NOT a welfare program.

Emile Pope

Useless. Your comment is just a forecast about what will happen with absolutely no evidence that it will. And you talk about real news sources but only cite ultra right wing sources for your "proof"...

Carlos Ponce

Gee, Emile, you're no ray of sunshine. Your prediction of gloom and doom is baseless.
"...but only cite ultra right wing sources for your 'proof'..." ??????
Since when is Politifact "ultra right wing"?????????

Jarvis Buckley

Pope , life is good. Enjoy it. Time will pass us by so fast. Walk on the Seawall , eat some fresh seafood from Katie's . Enjoy a day on the strand. Have a cocktail at the Treemont. Enjoy the Saltwater Grill,
visit Moody gardens. Smile life is good here on the Island✌️.

Kelly Naschke

Amen Jarvis. Emile’s hate has to be bad for his health.

Gary Miller

Since it was signed? Over 300 corporations have announced bonuses, pay raises, benefit increases, family leave. More will as their Board of directors approve.
More than 1 million small businesses have provided employees with improved compensation, benefits or vacations. These less than wealthy Americans are sharing the tax reform but one non wealthy American group are getting the biggest benefit of all. The unemployed are getting full time tax paying jobs.

Emile Pope

Name the corporations...

Emile Pope

Name the 1 million small businesses you speak of. Or cite a source...

Carlos Ponce

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