One Tenth Of One Percent - Coronado Eagle & Journal | Coronado News | Coronado Island News: Opinion

One Tenth Of One Percent

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Posted: Monday, December 16, 2019 8:59 am

The Republicans led by Donald J. Trump, have loudly trumpeted (pun intended) the tax cuts they have provided to the citizens of America. So I checked my taxes for the years of 2017 as compared to 2018. 2017 was, as claimed by the Republicans, too early to realize the tax cuts. 2018 was the first year that the full impact of the tax cuts were to take place.

After adjustments, I too my “taxable income” for both years and calculated the taxes I paid by percentage. in 2017, I paid 18.8% in taxes. In 2018, taking almost identical deductions, I paid 18.7%.

The much-touted tax saving was 1/10 of 1%. It was not the great tax saving that I was promised.

Thinking that I might be an anomaly, I asked four of my associates to do the same type of calculation. Three reported no savings with 2018 compared to 2017 and one reported an increase.

It appears that the con man in the White House has misled us once again.

Now I have received my Social Security Administration estimate for what I will receive on a monthly basis in 2020. My monthly payment, for what I paid in to Social Security over 40+ years will be reduced by about $47.80. It is a 1% decrease. That is 10 times my “tax savings” under the Trump administration plan. The Social Security recipients need to wake up. We have been had.

Meanwhile we have been told that the President paid taxes on only two of the 10 years that were revealed by the New York Times. I paid taxes on 10 of those 10 years. Believe me, I am not, as President Trump claims to be, a “billionaire.” I need every dollar to live on. That self-proclaimed billionaire got all the benefits of we who paid our taxes, while paying nothing.

Donald Trump and I shared the same benefits of an American citizen: protections by the armed forces, the police the firefighters. We drove on the roads that my taxes paid for. We both were recipients of the judicial and legal systems of our government that my taxes paid for. Donald J. Trump was living off of my taxes, and he claims to be a billionaire. He is not only my President, he is a freeloader.

We can do better. We must do better.

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