To the editor:
We tell children to look both ways when crossing the street. Adults should look both ways when it comes to tax cuts. We were told the Tax Cuts and Jobs Actwouldpayforitself —itdid not. While American families on average pay $500 less in taxes, that amounts to $65 billion/ year – a mere 5% of the total cost. The remaining additional cost of the tax cuts go to high-income families and corporations. Looking the other way, that $500 isn’t free. It increased the federal debt by $1.3 trillion. With a 3% interest payment, the $1.3 trillion means $300 in federal taxes your family now pays goes to banks and shareholders. Less tax revenue plus the interest cost on the added debt we all pay means less tax dollars for infrastructure like roads, bridges, schools, internet connectivity, and support for Medicare and Social Security. Whenitcomestotax cuts, be sure to look both ways.
Milton Eder Maple City
