In response to the guest column by Norman Pappous ("Both parties are to blame," The Daily News, Dec. 6): Yes, Mr. Pappous, I do have an ax to grind. The GOP description of their tax plan as a middle-class tax cut is misleading at best.

The assumption that the $1 trillion tax cut for corporations and the top 1 percent will probably result in a $4,000 a year wage increase for average middle class workers has no basis in fact.

Many of America's top CEOs have stated that they will use their increased income to do stock buy-backs, and increase investor dividends.They did not mention pay increases for workers.

GOP Speaker Paul Ryan stated that next year they will address the national debt and entitlements. That probably means using Medicare, Medicaid and Social Security cuts to pay for the $1 trillion tax cut to corporations and the top 1 percent.

To paraphrase Maya Angelou: "When people tell you who they are and what they are going to do, believe them."

Jerome Bourgeois

League City 

Locations

(27) comments

Doyle Beard

Can one see what's missing from this article? BASIS. The paraphrase of Maya Angelou proves she doesn't really know people.

Diane Turski

In my opinion this tax bill is the worst attempt to legislate that the Republicans have come up with yet! I'm amazed that anyone believes that what amounts to a tax cut for me of $10 compared to a tax cut for the ruling class (that the Citizens United Supreme Court ruling has created) of $10,000,000 will be of the greatest benefit to me! Trump brags that it is the biggest tax cut ever - this may be one of the few times he has told the truth because it is - for him!!

Gary Miller

Diane! The Kennedy tax cut was the biggest ever for the rich. Middle income workers got the jobs his tax cut created.

Gary Miller

Diane! Trump is rich but this reform won't have much if anything to do with his taxes. He pays 'capital gains taxes' not income taxes. As far as I can tell there are no changes to capital gains taxes. He won't even pay taxes on his Pres. income since he is donating it back to the treasury.

Diane Turski

Gary, Trump will gain from the "Pass Through" tax cut regarding his businesses.

Gary Miller

The measure of a tax cut is how much will be left in the economy, not who gets it. Any place that keeps more of their earnings, great or small, will benefit. The benefit will circulate as fast as money. Stock buy backs and dividends are valuable investments in the economy.

Ron Shelby

Not True. The measure of a tax cut is how its used. If its hoarded, its of no use to the rest of the economy in the same way that if taxes are increased and hoarded by the government, its of no use to the economy. Concentrating the tax cuts on the 1% through things like completely repealing the estate tax for estate above $5.4million in 2017 does nothing for the economy, and preserves that hoarded concentration for amounts above that level. The estate tax level was already structured to rise and protect up to $11million. Now its going out the window.

Carlos Ponce

"If its hoarded, its of no use to the rest of the economy..." Some think that the money is kept kept in a money bin like Scrooge McDuck. People do not become rich by hoarding. They invest. Even if kept in a bank it helps the economy. Think of what George Bailey (It's a Wonderful Life) said to those who demanded all their money: "I don't have your money here.. its in.. Bill's house..."
https://www.youtube.com/watch?v=_Er69b4HMl8
Money in the bank is made available to those who desire loans.
Think about the Parable of the Talents. The man who doubled what he was given was rewarded. 100% return on his investment.

Jim Forsythe

Has anything changed since 1946?
"Potter asks Bailey, “Are you running a business or a charity?”.

Is this our future?
"If Potter gets hold of this Building and Loan, there’ll never be another decent house built in this town … He wants to keep you living in his slums and paying the kind of rent he decides"

Business is business!
Potter challenges Bailey: "Why would you give Ernie Bishop, the taxi driver, a loan?"
Have you ever been a Ernie?

Carlos Ponce

"Has anything changed since 1946?" Yes, they have.

Carlos Ponce

Jim, what would happen to someone like the character Potter in today's world? Doubtful he'd be successful.

Carlos Ponce

Oh, wait! there is a successful millionaire who is out to destroy the American way of life. His name is George Soros.

Ron Shelby

Also, according to Michael Bloomberg's piece published three hours ago, the WSJ asked a roomful of CEOs that if the tax rate on corporations was cut allowing them to repatriate money, who would invest more back in the business. Very few raised their hands. Their response was that they don't need the money. They are already sitting on huge hoards of cash and unsure what to do with it.

Dwight Burns

If passed, this fraud of a tax bill, will have a negative impact on most of us in the near future. However, if you are rich you will benefit immensely.

Carlos Ponce

Show us where, Dwight.
https://www.congress.gov/bill/115th-congress/house-bill/1

Gary Miller

Dwight! Understand one thing. The prime purpose of this tax reform is to erase and repair what Obama did to employment. Jobs, Jobs and more jobs because Americans willing to work deserve jobs. Cutting the corporate is a jobs measure. Our manufacturs can't compete with countries with lower tax rates. Better able to compete they will hire more workers to make more to sell more. Most companies will be forced by competition from other American companies to cut domestic prices. The corporate tax is a consumer tax companies collect to cover the corporate tax. I know no liberal can understand companies raising prices to pay taxes. Cut the taxes so they can cut prices.

Gary Miller

Dwight! Like most liberals you may claim companies will not cut domestic prices when the corporate tax is reduced. Any company that competes with other companies will cut prices. If not they won't be able to compete with companies who do cut prices..

Kelly Naschke

You can’t explain economics to liberals. If the understood basic economic principles...they wouldn’t be liberals.

Carlos Ponce

The GCDN has performed a service for its readers. Liberal Economics is explained in the comic strip "Baby Blues". Baby Wren goes about the house taking things that don't belong to her and yelling "MINE!"[beam]

Gary Miller

Kelly. Liberals understand economics very well. Why else would they create recessions to grow their dependency base of voters. Pelosi knew she would create a recession when she added $19 billion to oil prices. The only thing that increased faster than energy prices was entitlement programs.

Ken Hufstetler

If I received a $10K tax reduction there would be no impact on the economy and I don't create jobs. I would rather receive zip and see the economy grow because I believe that benefits all of us, the working and the retired.

Doyle Beard

If one gets a $10,000.00 tax deduction I believe many would spend more therefore it would help create more jobs asy ou help create jobs by spending and putting money into the economy.


Your spending creates job whether one realizes it or not. So most getting tax deductions will spend more putting money into the economy. Pretty simple.

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Gary Miller

Doyle! The US economy is the sum of what labor earned and spends minus what government takes from it. $1 saved by one and $1,000,000 saved by another each has the same effect. The $1,000,000 saved from government grasp can create increased earnings for the $1 savers.

Doyle Beard

That was what I said in generally.

Keith Gray

If I get 10k more back... I can promise you, I am going to spend the crap out of it...

Doyle Beard

my first post was not very good due to a computer glitch.

Jarvis Buckley

Well said Kelly

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