In response to the Maine Voices column by Robert Daigle (“Trump is following through on a well-founded economic plan,” Dec. 20), I have to disagree.
It may be a great plan, as it has turned out, for President Trump’s billionaire buddies and the corporations but hardly beneficial to the people in the real world, sometimes holding two jobs, struggling to pay rent and put food on the table.
The Institute on Taxation and Economic Policy just released a report that shows many corporations paid almost half, 11.3 percent in taxes, of the pared-down 21 percent they should be paying, because of deductions, tax breaks and other loopholes.
These tax reductions were supposed to enable companies to reinvest in America, but many just used the extra capital to do stock buybacks, which increase share prices without requiring new investment or hiring. Even worse were the companies that paid no federal taxes and got a rebate. Amazon received a $129 million rebate on $10.8 billion in profits because of this wonderful economic plan of Trump and the Republican Party.
This is an “illusory great economy,” with those at the top getting even richer while the underclass struggles to get by. If this is such a great economy, why are the food banks and pantries being overwhelmed with new clients, and why does the richest country in the world have people sleeping out in the streets in sub-zero weather?
This “well-founded” economy is, unfortunately, an economy of greed.
Jake Hawkins
Arundel
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