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Donald Trump: Tax reform will "cost me a fortune, believe me"

Trump and the GOP have failed with tax reform. Trump claims it will cost him, but taxpayers are the ones who lose.

Yesterday I shared with my readers and listeners about how the tax reform plan bulldozing its way through the halls of Congress by Trump and the GOP fails to live up to the hype of providing “historic tax relief.” When tax reform leads to higher tax liabilities on the majority of taxpayers, that’s not historic relief; that’s business as usual at Kramerica.

One reason the plan being pushed by Trump and the GOP fails to deliver, and there are many others, is because they have adopted Socialist-Democrat talking points as the measuring stick for picking winners and losers in the tax debate. This is a bad idea because “middle class” in the Midwest is quite different from middle class in New York or California, and earning over $500,000 per year if you are a family of 4-6 is different than making that amount if you’re a DINK (Double Income-No Kids) family.

Class warfare is to be expected if you’re living in a Marxist country, but it should have no place in creating income tax policies for a liberty-loving Constitutional Republic.

Falling for the left’s ideology has put Trump and the GOP on the defensive over the perception that their plan favors the wealthy, a valid concern because, according to the Tax Policy Center, tax deductions and other changes to the law heavily favor big corporations while providing little to small businesses, not to mention favoring those taxpayers who earn the most money.

At an event held yesterday in St. Charles, MO, to promote the Tax Cut and Jobs Act, Trump tried to assure attendees that the plan will cost him “a fortune” and he defended his lack of evidence using his classic, “Believe me.”

While Trump's claim is debatable, it brings up another issue when it comes to taxes and Donald Trump—his never-to-be-released tax returns. Trump’s claim about how TCJA will personally affect him could easily be proven if he would do what every other modern president has done.

Trump also claims that his fellow millionaires and billionaires have called him to complain about the GOP's tax reform bill, which is a direct contradiction to his earlier claims that his friends begged him not to cut their taxes.

By the way, did you know that concern over the budget deficit is suddenly in vogue if you're a retiring Senator? In an effort to keep deficit spending in check, Senator Bob Corker wants a provision added to TCJA to automatically raise income tax rates if the reform bill fails to bring in enough income to cover the massive increases in spending that Trump and Congress are also planning.

They could just as easily add automatic spending cuts, but this is Washington we're talking about.

By adopting the Marxist ideology of the liberal left, Trump and the GOP have failed with tax reform. Meanwhile, Democrats win and American taxpayers lose.

Originally posted on The Strident Conservative.

David Leach is the owner of The Strident Conservative, your source for opinion that's politically-incorrect and always "right." His articles can also be found on RedState.com.

His daily radio commentary is nationally syndicated with Salem Radio Network and can be heard on stations across America.

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