One More Way the Republican Tax Plan Is Harming low-income Americans, and It’s Serious

Poverty

Nearly 50 percent of all Americans are classified as low-income or impoverished. If you have not heard about this serious problem, you likely receive all of your information from television news; and if it’s Fox, they deny it completely.

 Naturally the greatest problem for these Americans is their biggest expense; housing. In every city across America low-income housing is disappearing as luxury apartment buildings take their place in the downtown areas. For those structures which remain, rents have been increased to levels which surpass the abilities of many to pay the new rate.

The Republicans recently passed a new tax law. It has already proven harmful to tens of millions of Americans.

America is a great nation, but only if you are one of 585 billionaires or 10.7 million millionaires. If you are one of the millions who depend on housing with reduced rents, you may soon become homeless.

Here are the facts. The biggest tax breaks under the new law are for corporations. In every state, money from a program created by the last tax reform in 1986 is given to investment companies to build affordable housing. To offset their costs, these companies rely on large corporations to accept state credits in exchange for their investment in low-income housing. Many of these corporations are large banks. Not only did they receive tax credits, it also satisfied their requirement to fulfill the Community Reinvestment Act.

The new Republican plan eliminates most of the funds designed by the 1986 act. Now that large corporations receive enormous tax breaks, they no longer have incentive to participate in the construction of affordable housing.

Today more than one-and-one-half million Americans are homeless; that number is growing. When Trump took office, 49.1 million Americans were living below the poverty line; that number is growing. 146.4 million Americans are considered low-income. 44 percent of all children in America survive in low-income families. The problem is growing. More low-income men, women, and children are slipping into the poverty level. Many low-middle-class Americans are falling into the low-income level.

There is no doubt that if Trump is allowed to remain in power, and his hypocritical party supports his destructive agenda, our nation will soon become a plutocracy; rule by the wealthy. Here’s the frightening part; a plutocracy cannot exist under a democracy. Trump is working to replace democracy with fascism.

Trump’s tax plan will harm every American within the next two years with the exception of millionaires and billionaires. The middle class will experience a tax increase to pay for tax cuts for the wealthy and large corporations. 13 million Americans will lose their healthcare. Programs needed by tens of millions of Americans such as Medicaid, food stamps, meals on wheels, and housing assistance will experience drastic cuts. Small businesses will cease to exist as disposable income for millions of Americans virtually disappears.

After our nation experiences a greater depression than the one of 1929, most Americans will become slaves to the wealthy and given just enough income to survive.

I have predicted much of what is happening in America today. I am not pleased about the accuracy of my predictions.

We can keep all of this from happening. The next election is on November 6, 2018. All 435 members of Congress and 34 Senators are up for reelection; only eight are Republicans. We can eliminate Trump’s power. If Republicans no longer control both houses of congress, Trump will have even more fits of rage when he can’t have his way; and because he is obese, he will eventually stroke out or have a major heart attack. Our vote is our weapon; we can win the war. We are 320 million strong. Republicans have one illegitimate president, 51 Senators, and 240 in the House. Our enemies number only 292. We outnumber them, and our weapons are far more powerful.

Make the November election a historical event. Historically, midterms experience a low turnout. Let’s strive for 100 percent of all eligible Democrats and Independents to flood the polls across America. Your future and the future of those you love depends on it.

I beg you to spread the truth; this will be the most important election in American history.

Op-ed by James Turnage

SOURCE

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