Trump's Tax-Cut Scam Will Only Deepen Racism and Inequality

[Judi Lynn]

By Katrina vanden Heuvel
Columnist
June 26 at 8:13 AM

The six-month anniversary of the Tax Cut and Jobs Act passed last week with little fanfare. Despite Republicans’ dishonest spin, most Americans recognize that President Trump’s crowning legislative achievement was a plutocratic heist that will do nothing to help working people. Greedy corporations have used their windfalls to reward chief executives and stockholders, while workers’ wages have actually declined. Barely a third of Americans now support the law.

Yet the racial implications of Trump’s tax scam have been radically underreported and remain poorly understood. While fair tax reform could reduce the impact of structural racism in the economy, the law that Republicans passed in December will make it much worse.

That’s the conclusion of an important new report from economists Darrick Hamilton and Michael Linden of the Roosevelt Institute (where I serve on the board). As the institute has documented, the U.S. economy is shaped by informal rules that create disparities that harm people of color in virtually every part of society. Many of these “hidden rules of race” can be found in the federal tax code.


“Far from addressing, fixing, or improving the hidden rules of the tax code that disadvantage people of color, the new law strengthened some of these rules and even added new ones,” they write. “The sum total effect of the Trump tax law is likely to further increase the economic disparities, particularly with regards to wealth, between white Americans and communities of color.”

More:
https://www.washingtonpost.com/opinions/trumps-tax-cut-scam-will-only-deepen-racism-and-inequality/2018/06/26/d0725616-7889-11e8-93cc-6d3beccdd7a3_story.html

[Wellstone ruled]

1. Oh my,you are so right.

We have seen this before,we are at the same point we were in 1929. And we have a President who is mirroring the same actions.