New U.S. Tax Plan: I’ll Be Spending My Retirement Paying Down The Increased National Deficit

Yes, you heard right. Someone had asked the question “Hey, what are you going to do in your retirement?

Yes, now that American House and Senate passed the new “Tax Reform (Tax Plan)”, this unfortunately is going to be the fate of many, many Americans.

This is for the Electoral College and the people who voted for this current president, who is causing a ripple effect of greed, pigs feeding at that swamp trough (the so-called swamp draining that was to take place, yeah, that never took place – it expanded in a somewhat vicious and explosive manner). Folks, you sure picked a winner, one who is causing some real pain and angst to spread across the country, now and over the next decade… Lovely, isn’t it…

 

Here, let’s take a look at an example of another individual who believed a “wonderful new tax plan” would change the state. That individual is, the wonderful Kansas governor (just being facetious here), Brownback, as he tried to impress and win the hearts of all those wonderful Kansans. Brownback, back in 2012, started putting in place a massive tax cut scam, err, scheme to show the country that he could do that successfully and grow his state.

That did not happen. Many of the steep tax cuts put in place, ahhh, they were repealed already or are in the process of going the way of the DoDo bird (last seen sometime in the mid-17th century). After the tax cuts started hitting, you know (well, many of the logical and long-term thinkers knew) that school budgets were going to be cut. They were.

Also, city employee staffing (fire fighters, police and housing budgets) was also cut to help make up shortfalls. Here are a few more ‘fiscal policy’ victims that hit Kansas (http://www.chicagotribune.com/news/opinion/zorn/ct-kansas-brownback-trickle-down-tax-fail-zorn-perspec-0621-md-20170620-column.html):

Public schools were planning to close early for lack of operating revenue. Kansas was shorting pension funds, skimping on road improvements, cutting Medicaid and slashing outlays for state universities.

Here is another quote from the article that is simply brilliant:

“It absolutely should put an end to the theory that tax cuts for the rich end up helping everybody, but you can’t kill it. It’s a vampire idea. No matter how many times it’s proven wrong, it keeps coming back.”

 

So, what is the lesson with these so called “tax cut plans” that will grow the economy?  And if you wish, ask the successors to Reagan and then even Bush (41) how they might feel about tax cuts. If the former was alive and the latter was allowed to answer.

The lesson is, which I am quite sure you already know the answer. When you cut taxes, the state and the nation take in less revenue. Then, how does the country or state make up for that shortfall – well, of course, you cut services everywhere. Cutting services makes for an excellent model of spending less money. However, when services are cut, the average citizens start getting hurt, big time.

  • Needed services see reduced hours and/or reduced staff (which in turn puts an extreme workload on the remaining staff members).
  • Fire in your neighborhood, hmmm, let’s see how many trucks are available since they took a hit in staffing (and if you need EMS, well…. they may be understaffed as well)
  • Hospitals, doctors and nurses – well…. You might want to bring some aspirin with you because, as the tax cuts kick in, there is no mandate to have individuals have medical coverage – and when many of these who do not want medical coverage all of a sudden have an emergency, where do the go? Yes, they go to the emergency room. And what does that do, why, yes, the young man with the blue baseball cap, needed services get sucked into the emergency rooms along with the need for more funding and it has to come from somewhere. So be warned – do not get sick, there may not be enough regular medical coverage to handle the mundane, day to day medical issues (tax cut sucked up any extra cash lying around).
  • Nice, serviceable roads to drive on, forgeddaboutit, they fall into disrepair – causing you to suffer car / truck damage. Be sure to up your vehicle insurance as you’re likely to have more bent wheel axles from bad roads (and yes, failing bridges).
  • And do not forget about national and state parks and other areas – they may be closed or have reduced hours as immediate victims of revenue shortfalls due to this ‘grand tax plan’… You might have to re-think your vacation/week-end plans.

Then, what is the result of multiple services being cut, wait – why, yes, the older guy in the Hawaiian shirt – you hit it bang on, states start imposing cost hikes on many things in the state. And, oh yes, the young woman in the brilliant teal blouse, you are correct – the states start begging, dang, sorry, requesting the federal government for hand-outs, errr, more funding relief.

So, yes, again, so – what are you going to be doing over the next decade as this ‘grand’ tax cut plan starts biting while the national deficit continues to balloon with that purported $1.5 Trillion figure (which I am fairly certain it will swell far beyond that) is tacked on to the CURRENT national deficit.

It simply has not happened wherever and whenever tax cuts, to help corporations and the “middle/lower” class citizens, are put into law. Tax cuts end up being repealed with taxes going up again by another administration. Most corporations and wealthy individuals do what I (joe citizen) do, reinvest that money in myself (maybe in a savings or, gulp, a ‘401k’ account) for my own future. The majority of the companies who were “supposed” to be re-investing in its workforce to grow the company and those workers and by extension, the country – it just does not happen.

Do you think it is going to happen with this new, ‘grand’ tax plan? An expansion of growth across all American sectors…  Hmmm…. Think long and hard and most of all – do your own research (move away from the conspiracy theorists and hate mongers), then make that determination.

Your retirement may be in jeopardy because many states are going to be going hat in hand to the federal government for those hand-outs for the average citizens – us. And who will be looking out for you, guess who – it is going to be up to you to ensure you have enough salted away in your nest egg. That or continue working until you’re in your 70’s and 80’s…

 

What happened to strategic thinking in our government?  Where did it go? Where are all the forward thinkers? There are supposed to be adults in the American Congress, Senate and White House. Wait, I forgot, many of them were pushed out of many federal entities because they were smart and they used science-based as well as evidence-based data to drive new ideas and to disprove invalid/incorrect viewpoints. (Golly, I really hope I won’t get into any trouble for using words the HHS is attempting to ban from scientific and other professional use in HHS & CDC – Fetus, Transgender, Diversity, Vulnerable, Entitlement and the two I mentioned {that is, if this actually is a true situation***}.)

We, Americans, cannot even put in place a decent equitable number of women and other ethnic groups of people in these institutions. This is because so many people are only thinking “right now, right here and for me only” – instead of what is ahead, down the road, 5, 10 or 20 years to be who we can truly be.

Leaders of the free world, hmmm, not sure about that anymore, it appears the best and brightest gave up and left a lot of the slower thinking, short-term thinkers and less savvy individuals in charge, those who appear to only want to line their pockets.

Our future of growth looks bleak, very bleak and it will take quite some time to recover to where we, Americans, are great again. It’s the people, all the people, not just any one party over the other – it is not Conservatives or Liberals or Libertarians or Green Party or Religious groups or Atheists or gays or transgender or old or young or women or men – it is the people who come together for common good.

What we have right now is: “Me, me, me – gimme, gimme – I don’t want to share. I don’t want diversity. I want people to be like me and that’s it.”  That is what is scary, the lack of diversity – those not willing to embrace diversity in all of its wonderful possibilities.

*** A Seven-Word Mystery at the CDC https://www.bloomberg.com/view/articles/2017-12-19/a-seven-word-mystery-at-the-cdc

 

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