Tax folly

As I listened to the beautiful music performed by the Nome Beltz Jr./Sr.High School Band and the High School Choir, it dawned on me that those kids will be paying for a tax folly that just passed through Congress.
Sure, the last word has yet to be said, as the Conference Committee aligns the Senate and the House version of this ill-advised tax cut which will saddle the country with a $1.4 TRILLION debt.
But it will be our kids paying for the tab. Provided that the Tax Cut and Jobs Act will pass through both chambers, in ten years, this country will be up to its earlobes in debt. The independent Joint Committee on Taxation warned that “interest rates begin to rise as Federal debt increases due to the proposal.”
And what for?
For short term and moderate tax cuts to the middle class. For a permanent and fat tax bonus to the ultra-rich. And for a much-needed victory by the ruling Republican Party that has proven to be impotent to achieve much despite having the White House and majorities in both Congressional chambers.
In my book, the American people need a victory. But not the kind that rewards the rich, by taking resources from the middle and lower classes. Buried in the so called Tax Cut and Jobs Act is the provision to kill the mandatory health care insurance under the Affordable Care Act. This will shrink the insurance pool and increase the cost for buying insurance plans. You bet the rich will have the best health care coverage that money can buy. And we will be stuck with not being able to afford health care because we’ll be busy paying the bill on a national debt not of our making. —D.H.—

The Nome Nugget

PO Box 610
Nome, Alaska 99762

Phone: (907) 443-5235
Fax: (907) 443-5112

External Links