The US House of Representatives has passed the 2018 budget and it is now off to the Senate. The budget is a full blown disaster for the country and a gift to the wealthy and corporations. Representative Walorski is touting the budget as a budget that is good for the country. She also voted 'aye' for the budget. But we all know that the budget will only be good for the wealthiest among us and will further stifle the lower 90% Lets look at a graph from Mother Jones with data to 2015. Note the trend of increased wealth for the wealthiest and stagnation for lower 90% This trend will get worse if this bill is passed in the Senate. When one considers the cost of living increases into the equation, it is clear the large majority of Americans are losing ground.
It is likely that some of the worst parts of the budget will pass the Senate as some of the budget via rules manipulation, will require only a simple majority to prevail rather than the usual 60% super majority.
WHAT IS IN THE BUDGET?
You want to know? Lots of good stuff for the wealthiest Americans and a much harder life for everyone else, in particular, the poor, elderly and disabled. The GOP who continuously talk about the deficit until they are in power have passed a budget that will increase the deficit by $1.5 Trillion over 10 years.
Tax cuts were reserved for the wealthy with the most agregious being a tax break for private jet owners. The tax cuts are being created by the House are created in part by changes in the tax brackets. We have 7 brackets now and they propose just 4 (12% 25% 35% and the top staying at 39.6%) The budget would also offer a large gift to corporations who already actively avoid paying their fair share of taxes. A reduction of corporate taxes from 35% to 20% was approved by the US House.
OTHER LARGE PROBLEMS WITH THE BUDGET
The budget clearly goes after lower wealth, the elderly and disabled. Here's how:
Standard deductions would increase but the budget eliminates deductions in place now for those over 65 years of age. The budget sharply reduces the amount of state and local taxes that can be deducted (one of the few deductions for which lower wealth individuals qualify).
The budget takes direct aim at the disabled by removing the medical expenses deduction which helps those with major medical problems. The current deduction applies if the amount is over 10% of income. This affects mostly older Americans with disabilities. The elimination of the deduction will cost the disabled millions of dollars. Those with disabilities are already some of the poorest people in the country. And yes this affects the elderly because the elderly are more likely to develop disabilities. The AARP Public Policy Institute indicated that over three quarters of the people who use this deduction are over 50 and around 70% have incomes below $75,000/year. The institute said that they estimate 1.2 million people over 65 would see taxes increase and in 10 years the number will jump to 4.9 million.
The US House budget also cuts Medicare significantly and eliminates the requirement that all Americans participate in a health care plan. This will add millions to the uninsured roles. Of course, in fairness the ACA has many flaws and the costs are becoming prohibitive to many Americans. However, I must add that this provision of requiring people to have an insurance plan was originally pushed by the GOP. It is also likely that with fewer people in the 'insurance market,' the prices will drastically go up. I should mention though the real solution to providing health care for all is universal, single payer coverage which neither major party supports.
THE LARGEST PART OF THE BUDGET --- THE MILITARY:
We cannot forget to add in this boondoggle which is authorized at just over $700 Billion. It is the largest part of our budget and one of our biggest problems. This budget would make our military spending 368% higher than the next highest funded military which is China. The military budget must be cut. My proposals are in the platform on this site. But the expanding costs for military continue to squeeze social programs. That is, of course, the plan.
END THE STATUS QUO
Those who support these incredibly regressive plans must go. They include members of both major parties. It is all in your hands. The American people need to pay attention and tell our government enough is enough. Vote independent and avoid the party system during elections. Your vote doesn't select the party candidate anyway. The wealth of congressional members is stunning and appalling. It was President Harry Truman who said "the only way to get rich as a politician is to be a crook." I'm with him. Get the crooks out of office.
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