Trump’s destructive tax reform removes many of the most common deductions on your 2018 tax return. 2017 will be the last year that most Americans will be allowed to deduct their mortgage interest and taxes. However, large real estate developers including Donald Trump and Bob Corker, will continue to be allowed to deduct their costs.

Charitable deductions will no longer be allowed, but Trump and his cronies will receive additional tax breaks. While large corporations receive a huge tax decrease, your favorite charities will lose an estimated $20 billion each year. Most wealthy Americans donate to charities for a single reason; tax deductions. With no incentive, many institutions will experience far fewer donations.

This is another example of how this “tax reform” bill will harm low-income and impoverished Americans the most, and be a gift to the super wealthy.

This is a statement from the ‘Tax Policy Center.’

“Economists generally agree that the tax deduction increases charitable giving, although the magnitude of the effect is subject to debate. After assuming how much givers would change their behavior in response to those higher taxes, we estimate that individual giving would decline by between $12 and $20 billion in 2018, or between 4 and 6.5 percent. Longer run effects would be similar.”

If you doubted, even a little, that the GOP was the party of the wealthy, you don’t now. With this extremely destructive bill, they have been exposed to every American.

Desperation drove its passage. For eleven months of the Trump administration, and all eight years of President Obama’s two terms, Republicans had not passed a single piece of significant legislation. It is a sad thing that their one accomplishment in nearly nine years will harm most of our nation’s 320 million people.

When I call them ‘Republicans,’ that is an insult to the real members of the GOP who served America prior to the George W. Bush administration; it has only become worse under the failed leadership of Donald J. Trump.

Let’s all show these failed politicians what we think of their refusal to serve the majority of all Americans. ‘Save the date;’ November 6, 2018. This is the date when the second American Revolution begins. Please join me; it will be the most fun you have had since November 7, 2016; the day before America’s greatest disaster.

Please re-post; thank you.

Op-ed by James Turnage

SOURCE

Image courtesy of DonkeyHotey

My five novels are available on the free Amazon Kindle app; CLICK HERE