KRUGMAN: "Taxpayers, You've Been Scammed" [View all]

[kpete]

Trump and his allies pretended to give you a gift, but they gave themselves and their wealthy patrons much bigger gifts

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So you go out for dinner with a wealthy acquaintance. “I’ll take care of everything,” he says, and orders you a hamburger. Then he orders himself an expensive steak and a bottle of wine, which he doesn’t share. And when the waiter comes with the check, he points at you and says, “Charge it to his credit card.”

Now you understand the essence of the Trump tax cut, signed into law a little over two months ago.

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How’s that $75-a-year saving going to look when the teacher finds out that, partly because of that tax cut, her mother’s Medicare plan has been converted into an inadequate voucher system and Medicaid won’t pay for her father’s nursing home care?

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So far, we’ve seen about $6 billion in bonuses versus more than $170 billion in stock buybacks, that is, handing money to wealthy stockholders. And money spent on buybacks is money that isn’t being invested in plants and equipment, the supposed point of the tax cut.

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Donald Trump and his allies pretended to give you a gift, but they gave themselves and their wealthy patrons much bigger gifts — and they’re going to stick you with the bill. You’ve been scammed.


https://mobile.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republicans.html?action=click&module=Opinion&pgtype=Homepage