Editor, Last week Walmart announced job cuts of 400-500 people. This is after having shut 60 Sam’s Club warehouses. This is the tip of the iceberg.
AT&T, Comcast, Carrier Industries, to name a few, have also announced job cuts or closings. The captains of industry, given a huge tax cut, were supposed to create jobs, not cut them, open new industries, not close them. Most CEOs have said profits will be distributed to shareholders, not workers. This is what has happened so far since the Republican tax scheme that Barbara Comstock voted for.
This is the same scheme that gives corporations 70 percent of the cuts and makes them permanent. The other 30 percent to taxpayers, who need the cut the most, will expire in a few years. Income inequality is off the charts and corporations have had record profits for years and did not need the money. Further, by removing the Affordable Care individual mandates, health care premiums will increase and an estimated 13 million people will lose their health care. By adding close to $2 trillion to the deficits,
Republicans like U.S. Rep. Barbara Comstock will shed crocodile tears about deficits. And then, she and her colleagues will try to gut the benefits of Medicare and Social Security that so many rely on. This Republican tax scheme should be seen for what it is. A bad deal for most of us and a bonanza for the rich and the corporations, many of whom have not paid their share of taxes for years.
Fariborz S. Fatemi, Mclean