The Senate tax bill was passed last night.
I’m not an economist, nor was math my favorite subject when I was in a school.
But common sense tells me two things: first that handwritten edits going to senators just before they are about to vote without reading the draft is not the wisest choice. Elizabeth Warren posted the video below last night. The fact that the senators were expected to read and vote on a bill that has not yet been clearly defined and cleanly written by its architects just makes it that much more questionable.
Secondly, I have a sneaking suspicion that cutting taxes for corporation and the rich to create a modern version of trickle down economics is not going to go as planned. Ronald Reagan tried it in the 80’s. The results were not what he and his administration hoped they would be.
The fact is that this tax bill will not just affect this generation, but future generations. It is also dubious as to whom it will benefit, despite claims from Trump and the Republicans that middle class Americans will see a positive change in their taxes.
A tax bill, in my uneducated opinion, need to be logical, cleanly written and works for the benefit of the 99%, not the 1%. From what I can tell, the tax bill as it stands now cannot be defined by any of these factors.