In a March 2023 article, the Center for American Progress states, “Tax cuts are primarily responsible for the increasing debt … . House Republican leaders have used the size of the debt to call for spending cuts, but it does not address the true cause of the rising debt … .Tax cuts enacted over in the past 25 years slashed taxes disproportionally for the wealthy and profitable corporations, severely reducing federal revenues … .Without these tax cuts, debt as a percentage of the economy would be declining permanently.”
We do not have a spending problem; we have a revenue problem. A revenue problem caused by the wealthy and profitable corporations not paying their fair share of taxes. The Republicans not only fail to acknowledge that, due to the tax cuts, we have a revenue problem and not a spending problem, they are doubling down on tax cuts for the wealthy (“GOP election sweep eases president-elect’s tax plans,” Nov. 16). I predict they will starve the Treasury and explode the debt by trillions, then they can use the debt to accomplish their true goal of reducing government programs that help the middle class.
Contact your representative — 202-224-3121 — and tell them no more tax cuts for the extremely wealthy. Change the tax system so everyone pays their fair share of taxes with no cheating or scheming possible.
Julia Bojalad
North Huntingdon