Lower middle class taxes by collecting Trump's millions in fraudulent real estate money

Opinion letter published in The Daily Gazette by Anthony J. Santo

October 2nd, 2023

Donald Trump’s financial empire is built on fraud. He will appear in a Manhattan court to defend himself against a civil case of fraud brought by Attorney General Letitia James in NY.

New York State attorney general Letitia James

If  (God forbid!) Trump becomes president again ordinary Americans will be greatly disadvantaged. As in his personal finances, Trump’s solutions to the nation’s economic problems are based on illusions and fantasies. MAGA and other Republicans cling to their belief in supply-side economics, calling for ever greater tax cuts for the wealthy and corporations and paying for them with cuts in social programs, a policy that has never worked.

Trump's campaign bombards donors with numerous daily emails and texts (Axios). 

We need to implement progressive economic policies based on demand-side economics. We need to balance the federal budget and pay down the national debt. High interest rates are crushing low and middle income families, making home buying impossible for many and driving up rents. Drastic cuts in social programs would devastate millions of families.

An effective solution would reduce spending on the military by eliminating redundant and outmoded weapons systems. 

Our military spending was $877b. in 2022, 40% of worldwide military spending. Defense industry lobbyists use their financial clout to buy the votes necessary to continue the wasteful spending that enriches them. Defense dollars would be better spent aiding Ukraine in its fight against Russian aggression. Would be aggressors must be shown that NATO will not sit back and allow them to violate the sovereignty of other nations.

We need a truly progressive income tax, eliminating loopholes and deductions. A wealth tax on citizens with a net worth over $20m. should be assessed whenever necessary to balance the budget and help pay down the national debt.

A single payer national health care system would also result in savings and huge benefits to the general population by diverting funds from advertising by Big Pharma and health insurance and their unconscionable profits to actual medical research and services.

These reforms would help all American families.

The wealthy would benefit from a stable economy and the sound infrastructure necessary to conduct business. These reforms would make possible tax cuts for lower and middle class Americans providing ongoing stimulus to the economy.