Tax cut for Lamalfa/ the Shaft for the rest of us.
Mr. LaMalfa has made it clear he supports Trumps tax cut for the WEALTHY while continuing to give the shaft to the rest of his constituents as he has been doing since Trump got into office. The tax cut will go as follows:
Top 1% receive a 25% tax cut
Top 4 % receive a 25% tax cut
Remaining 96% will receive a TEMPORARY (until 2026) doubling of the household deduction. BUT:
You can’t claim any children
You can’t claim your house interest
You can’t claim school expenses
You can’t claim the state and federal taxes you paid.
This tax cut to the WEALTHY will raise the deficit over 1 trillion a year and is PERMANENT FOR THE WEALTHY.
Tax brackets will change:
Lower tax bracket will go from 10% to 12 %
Middle tax bracket will go from 15% to 25%
Upper tax bracket will go from 39% to 25%
In 2026 and 2027 if tax revenues hit a certain level, corporations will receive another 120 Billion in tax breaks which is when the middle classes supposed (but not really a tax break) will end so the middle class will be paying for another tax break for the rich at this time.
Also, if the so-called representatives of the people find out that the huge deficit of 1 trillion a year is not a big as they projected it would be, then they will get another tax cut to make sure the deficit actually reaches 1 trillion and they can pocket even more.
To help offset a little of these deficits they plan on cutting Medicare and Social Security benefits even more than they have.
These people, who say they represent the people, claim that the United States pays some of the highest taxes in the World. This is just an outright LIE!!! We are the FORTH LOWEST TAXED NATION IN THE WORLD!!!!!!!!
This is Mr. LaMalfa’s Christmas Gift to his constituents. Are We Happy Yet!!!
Mona Uruburu, Janesville, CA 96114