For too long we’ve allowed tax abatements and other loopholes in exchange for the hollow promise that corporate profits will spill over into public coffers – and it does not work. Instead, corporations use their tax loopholes for executive compensation and stockholder profiteering – and little else.
Meanwhile, shared expenses like schools and roads get handed off to ever-more-thinly-stretched middle class and underprivileged households, and there is a powerful move afoot to privatize these public obligations.
This is outrageous. It is fiscal nonsense. And it’s ethically wrong.
The wealthiest among us are the ones who have benefited the most from the opportunities America provides, and it is good citizenship and a noble virtue to take care of others who live or visit here.
I completely oppose the new Republican tax scheme because it adds trillions of dollars to the federal debt – in violation of generations of Republican ideology – and creates an excuse for Congress to further slash funding for programs on which the elderly and the poor depend. It is nothing short of radical greed that ultimately imperils us all.