You know those drug ads that begin with the drug’s benefits — and then list possibly terrible reactions. Congress should be equally honest in promoting its new tax program.
They’re glib when exaggerating benefits. The integrity of legislation, however, and our nation’s well being, requires a “Big Pharma” kind of careful analysis of dangers in the GOP plan. An ad promoting the GOP’s tax relief “medicine” might say.
The GOP’s “back room designers” have created a marvelous new medicine to solve tax payer ills. no matter if it’s high taxes, complex returns, or regulations, our relief is especially for middle income people.
The “FDA” (Full Disclosure Act) requires warnings of possible adverse reactions. Persons with certain conditions need to take this medicine with a grain of salt.
Caution is needed if you’re allergic to budget deficits. this medicine will add over a trillion to our national debt.
Facing high medical bills? Better get well quickly. Medical deductions may be eliminated.
If home mortgage deductions have helped you own your home, loss of that deduction may require you to sell your home.
You’ll suffer a tax insult living in a high tax state — when those tax deductions go away.
Struggling to repay student loans? Expect those tax benefits to disappear.
Workers needing child care deduction face a personal budget deficit if such deductions are limited.
Counting on “middle class tax cuts?” Expect disappointment from loss of other benefits.
If you’re a student on scholarship or using a work grant, those benefits may be taxable, making those modest benefits smaller.
If your moral sensitivity is aggravated by the disgraceful growing disparity between wealthy and the rest of us, beware the tax “medicine” aggravates that obscenity.
Needing child care deductions? Be ready for a bigger hole in your budget when such deductions are cut.
If you want sizable tax cuts, you must be in the upper brackets — the only place where significant tax cuts are assured.
If any of your conditions worsen, contact your elected officials to take corrective action before this medicine sickens our whole nation.
By all means, be informed about the proposed tax medicine — by reading the “fine print.”
William A. McCartney,