There are many reasons to be alarmed about Trump’s proposed budget and tax cuts, not the least of which is that it will leave many middle and lower income families more strapped than ever. Meanwhile, wealthy corporations, real estate partnerships, and hedge funds will have their taxes cut fat least 15 percent, which economists report will caust at least a $2 trillion loss. Added to the fact that there are no offsets to balance this loss, pundits estimate the deficit could be $6 to $8 trillion.
Supposedly, this tax reduction for the wealthy will stimulate the economy to new growth, but this tactic has been tried before during the Reagan and Bush terms, and it failed. The promised economic growth didn’t happen; the deficit grew.
In Trump’s proposed budget, cuts would affect the people who can least afford it: Veterans, children of poor parents, elderly on fixed incomes, single parents, disabled, college students, and those affected by cuts to the Environmental Protection Agency — everyone who needs to breathe unpolluted air, drink clean water, grow food without carcinogenic fertilizers and fish in non-polluted waters. At a time of mass famine in Africa and huge refugee populations living in extreme conditions, this budget proposes a 33 percent cut in foreign aid.
Trump does want to fund building a wall to keep out Mexicans, hiring an additional 10,000 to work in the Immigration Detention Force and adding billions to our military budget.
These are some of the things that would be cut: the Chemical Safety Board – which investigates the causes of hazardous material spills; Meals on Wheels for 2 million seniors and 500,000 veterans; National Endowment for the Arts; the U.S. Institute of Peace, which brings analysts, experts and survivors from around the world to innovate strategies for avoiding violent conflict; the Neighborhood Reinvestment Corporation, which helps families avoid foreclosure; the Legal Services Corporations, which helps underprivileged Americans; the Corporation for National and Community Service which funds AmeriCorps.
I urge you to call your Representative and Senators to let them know how you feel about these proposed budget cuts and tax plan.