To the Editor:
If the old saying, "Insanity is doing the same thing over and over again and expecting different results" is an accurate statement, it might be a good time to take a closer look at Republican tax philosophy. Simply stated, since Reagan, Republicans have argued and legislated that the lower the taxes on the richest Americans the more all Americans benefit. Let's see.
When Ronald Reagan took office, America was a creditor nation, the lives of working Americans had steadily improved since the end of World War II, the rich paid their fair share of taxes, and there were 13 billionaires in America.
Now, meet "Supply Side Economics," also known as "Trickle Down." Reagan drastically cut taxes on the wealthiest Americans. The move created millions of jobs on what turned out to be a credit card. So, when Reagan left office America was a debtor nation, and workers had entered what was to become a 30 plus year stretch of losses of purchasing power. But there was growth, we now had 99 billionaires. Strike 1!
George H. W. was Reagan lite, but his administration created the second fewest jobs of all presidents from Carter to Trump.
Clinton came in, raised taxes on the rich, reduced the billionaires to 42, created more jobs than Reagan, paid for them, eliminated the yearly deficit and handed George W. a surplus. George W. acted quickly to slash taxes on what he called his base. Over eight years he raised the number of billionaires to 469, led us into the worst recession since the great depression and handed the mess over to Obama. Strike 2!
Obama managed to cut the yearly deficit in half, save the auto industry, created more jobs than either Bush and raised the stock market from the 6,700 he inherited to almost 20,000, a momentum he gave to Trump who, of course, claims the credit.
With the economy recovering from the last Republican president, America decided it could risk another Republican president in the Oval Office. And, with our government virtually sold to the billionaire class, thanks to Citizens United, the buyers expected a return on their investment. Trump and the Republicans delivered to the Koch class and corporations the worst tax "con job" in American history, Robin Hood in reverse. Strike 3!
Next year we will see Paul (Ayn Rand) Ryan try to pay for the donor payback tax bill by attacking Medicare, Medicaid and Social Security, harming millions who vote Republican.
It's time for middle class and working poor Republicans to stop voting against themselves. They can begin in 2018. I'm not holding my breath.
Gary L. Allen