Why This House Tax Scheme Is For IDIOTS [View all]
The House tax bill is an all-out attack on the future prosperity of America, not that any of the major news organizations are telling you that in plain English. Lost in the dense bureaucratic language of modern news reports is the simple fact that the House bill takes from striving students so that the already rich and major corporations can have more.
This bill is a long-term disaster in terms of what economists call opportunity costs. That term refers to a benefit that a person could have received, but gave up, to take another course of action. This tax bill gives up the future wealth from investing in brainpower in favor of permanent tax cuts for the already rich and corporations.
This tax bill should be called the Intellectual Destruction Initiative Outrageous Tax Savings Act, a.k.a. the IDIOTS Tax Act of 2017.
Are we idiots?
What we need is more investment in education and, especially, education of the most serious and scholarly students. I have a name for what we need—the Intellectual Quality General Education National Investment University Scholarship Act or IQ GENIUS Act.
What will we tell our Congress, if anything, about this tax bill and the one being written in the Senate? Hopefully, it’s that we are not idiots and we want to develop more genius minds.
https://www.dcreport.org/2017/11/17/why-this-house-tax-scheme-is-for-idiots/
David Cay Johnston
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