When you or I give one hundred dollars to a candidate it is a contribution. When the wealthiest among us donate one hundred thousand, it is an investment. For them, tax reform will pay off big.
Even in an era of unbridled greed, a tax cut for the wealthiest will not cross the finish line. Instead Republicans couched the bill as a job creation initiative that will boost employment and wages. Leave aside that this is a drastic course correction, when we are on a path of low unemployment and finally, wage escalation.
More troubling, past tax cuts have been a gusher for shareholders, but barely a drop in the bucket for workers. With a business man president, and a business friendly Congress, we should demand business like accountability. We should treat the job growth and wage increase promises as stretch goals, and the tax deductions as incentive awards for achieving the goals. So grant the tax deductions but with a claw back provision if the goals are not reached.
If the snake oil does not work, the treasury gets the money back which can be used for real middle class tax cuts.
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