Mike Lipskin: Americans favor fair taxation

January 23, 2019

Editor: Our debt has soared because U.S. Treasury revenue loss due to George W. Bush’s 2003 tax cut, Trump’s 2018 generous tax cuts for the rich, the huge recession beginning in 2006, plus the off-the-books $5 trillion-plus cost of the Iraq War with caring for hundreds of injured vets as a results. Then there is the military spending, more than that of the other nine advanced countries, combined.

Neither W’s nor Trump’s tax bill savings to large corporations results in research and development investment, and repatriation of offshore profits. Companies use federal government handouts to buy back shares of their own stock, and still keep most of their earnings outside the U.S.

Despite the Trump tax cut, our economy, as part of the worldwide one, is starting to slow, and during the holidays the stock market had its largest slide in decades. Real wages still lag behind cost of living. Surprise: Over 60 percent of Americans favor fair taxation to protect Social Security, public health insurance, to fix our infrastructure and outdated utility grids. And Clinton left us with a U.S. Treasury surplus.

Mike Lipskin, Kingman

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