We all love a tax break, a few hundred more dollars to spend. So the new tax bill is gaining popularity.
I am less in love with it as I realize that in the future it will reduce my Social Security, Medicare and Medicaid, and that my children and grandchildren will have to pay for it with interest. All reputable economists, including the Congressional Budget Office, conclude that even counting the stimulus it might provide, it will add $1 trillion to $2 trillion to the deficit.
The Republican plan to deal with this deficit is to cut these programs in the future. I am even less in love with it because the richest 1 percent get 83 percent of the tax breaks. My children will be paying in the future for the billions that Trump and the rich get now from this bill. The tax bill is a Republican payback to wealthy donors and an excuse for them to cut our Social Security, Medicare and Medicaid.
David Hollenbach, Miramonte