To the editor:
Every time in the coming weeks we hear about the proposed Trump tax cuts we need to understand Trump wants to increase our taxes. How? Trump’s only significant first term legislation was his 2017 “tax cut.” Our government borrowed over 2 trillion dollars to pay for this 2017 “tax cut,” of which 83% of the tax savings went to the those in the top half of the 1%.
There was no tax cut to the average American taxpayer in 2017. There was a tax increase that will come due in the future. And now Trump wants to extend and increase this give-away to the extra- ordinarily wealthy and it is the same thing as mentioned before.
Trump wants to borrow money today; America will be re-paying the principle with interest on these tax cuts (our loans to the ultra rich) far into the future.
James P. Meyer Lake Leelanau
