Maine Writer

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Location: Topsham, MAINE, United States

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Monday, January 01, 2018

Warning to Trumpland - from Tucson

It's amazingly easy to find plenty of people grumbling about the problems in the Republican "tax cuts for the rich" bill. 

Itemized deductions will be eaten up by the doubling of the individual tax credit, undercutting the advantages of itemized donations to charities and mortgage interest. 

But, even after all the justifiably grumblings, whereby the middle class will pay for tax cuts for the rich, the larger problem is the ballooning national deficit

An "echo" letter to the editor, published in the Tucson.com news blog:

Deficit scolds in Trumpland ~ by Graeme Williams, Southeast side, on Dec 29, 2017

After eight years of telling everyone that the Federal deficit would kill us all, the Republican controlled Congress passed their new tax bill. Anyone paying attention knows that scoring agencies say this new budget will add $1.5 trillion to the deficit in 10 years. What I don't hear being talked about is what to do with our current deficit.
The United States is running an annual deficit of over $400 billion a year. Nothing in the new tax bill changes that. Now the tax bill will add another $1.5 trillion in debt. That works out to $4 trillion extra debt from out current deficit, and another $1.5 trillion for tax cuts for rich people. That seems to be over $5 trillion extra debt over the next ten years.
Deficits only seem to matter to Washington when the Democrats are in power.

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