The New Tax Plan Just Did This To The Middle Class #Tax

The new 2018 American Tax plan did these 3 things (in essence, one small good thing, and not-so-good for 99% of us, and another good all around for that whopping one percenters ie the rich 1% owners) in America:

1. It helps the 99% middle class slightly in the short run (next 1-5 years)

2. It hurts the 99% middle class largely in the long run (next 5-10 years and beyond)

3. It helps the rich and super rich 1% from now through the foreseeable future in HUGE ways

How?  Well, I was being very polite here.  The new tax plan is said by Forbes Magazine to "Scrooge" the middle class in the long run.  If you're basically a One-Percenter aka multi-millionaire it only makes you richer.  Congratulations.

If you're in the 99 percentile of earners, which most of us are, in the long run the new tax plan favors the 1% and will hurt the 99% more than it will help, if you're willing to do the math.

Unfortunately, most only focus on the short term rather than the long term.  Also, people should know that there is a law of equal and opposite action and reaction at play here when it comes to budgets.

This law says that for one group to make something, the other group has to finance it and give up something - that's just science people, accounting, and math - the act of balancing the equation and the balance sheet!

Adding to the debt is a huge mistake - which the plan does, only to kick that can down the road some more (as if it can be!)  At some point, the economy will have a serious cash flow problem, and everyone (99%) will be asked to give up a ton, in order to save everything.

We all hope that day will never come.  But who says it can't?  Who says things are "too big to fail" as if that were an actual thing.  The Ship The Titanic was once said to be too big to sink.  And we all know what happened there.

The 2018 Tax Plan that creates another 1.5 Trillion in debt. Unbelievable!  We cannot be creating anymore debt!  Will that be the straw that breaks the camel's back?  I sure hope not!

We can't even pass a balanced budget for any given amount of time.  Why do you think that is?  A cash-flow problem perhaps, to get the time needed to finance our debt, in order to let one debt pay for another, so that perhaps so things keep moving and makes everyone believe everything is ok and will work out?  Maybe that's what happened during the big sequestration way back when?

Not to bring more bad news, but this article from USA Today paints a bleak picture for the future of Social Security, on which most seniors depend.  It states 4 main things to be aware of:

1. 34% of elderly Americans receiving benefits rely on Social Security for 90% or more of their monthly income

2. By 2022 Social Security will be paying out more than it is collecting in revenue

3. By 2034, the $3 trillion in asset reserves for Social Security will be completely depleted

4. To continue payments through 2091,an across-the-board cut to benefits of up to 23% may be needed

And what became of the retirement plans as a result of the 2018 Tax Plan?  Did it change?  I hope you are following this carefully like I am, because it's dealing with our future and viability for the next 20-40 years!  Who isn't concerned?

What a shame, a tax plan that creates more debt.  That is unacceptable.  Please remember this in the future when it's time to vote again.