GOP rigged the economy in favor of the wealthy

President Donald Trump signed a tax cut law that will make his wealthy friends a lot richer, but that is just one in a series of betrayals of working people by the administration and Congress since Republicans took over the federal government two years ago, according to Democratic activist Lisa McCormick.

In addition to giving a massive tax cut to wealthy business owners, McCormick charged that Trump Republicans rolled back important worker protections, advanced nominees to key administration posts who have a history of exploiting working people, and taken other actions that further rig the system in favor of corporate interests and the wealthiest Americans.

Lisa McCormick

“Trump and Republicans in Congress enacted a permanent cut in the corporate income tax rate that will overwhelmingly benefit business owners and the richest one percent of the population along with temporary reductions that could potentially benefit some low- and moderate-income families, but the tax cuts also drive up the national debt by more than a trillion dollars,” said McCormick. “GOP mega-donor Charles Koch and his wife donated around $500,000 to Speaker Paul Ryan’s joint fundraising committee, 13 days after the GOP tax plan was passed.”

“The president emphasized repeatedly that the tax legislation is targeted as a tax break for the middle class, but Trump told guests at Mar-a-Lago, ‘You all just got a lot richer,’ on Dec 24, just hours after he signed the sweeping tax overhaul into law,” said McCormick.

“Trump and his Republican allies in Congress have undermined pay growth and eroded working conditions for the nation’s workers, keeping with w trend that has had a destructive impact on America since it was introduced in 1981 under then-President Ronald Reagan,” said McCormick, who says it is time to turn things around. “If you look at the facts, Reaganomics has failed the American people. It is time to abandon this failed experiment and return to the kind of economic policies that made the United States the greatest and strongest nation on the planet.”

McCormick compared economic, military, industrial and technological advances made from 1930 to 1980 with those during the period from 1981 until now, and she said the Democratic New Deal and Great Society plans made life better for more people, while Republican voodoo economics have devastated working families in America.

“The Interstate Highway System was built when top tax rates were over 90 percent but it enlarged markets by reducing shipping and production costs, in a prime example of getting a great return on our investment,” said McCormick. “By contrast, allowing roads and other infrastructure to deteriorate is more costly than the miserly savings preached but not really practiced by Republicans, who racked up a $23 trillion nationals debt without spending wisely on maintenance and upkeep.”

“The 1969 Apollo program landing on the Moon birthed the miniaturization of computing technology, demonstrating how the American space program brought forth a breathtaking display of applied science but not only have investments in pure science and exploration dwindled, but our dedication to free public education has eroded and it shows in the poor choices Americans have made regarding public policy,” said McCormick. “Funding by for-profit private industry of bio-medical research, physics and chemistry, has increased 102% from 1994 to 2003. Consequently health services research has languished in the shadows.”

“This incredibly short-sighted thinking has given rise to inequality that only makes it looks like the rich got richer because in fact, we are all poorer as a result of unwise public policy decisions,” said McCormick. “People who should live secure and free of fear face greater danger posed by others whose desperation is caused by our myopic thinking. We traded peace, progress and prosperity for ignorance, fear and isolation.”

McCormick is calling on Democratic Party leaders and activists to step up efforts to turn around America by showing that the kind of policies that got the nation out of the Great Depression and made the United States victorious in World War II, can be applied to today’s problems with far better results than the selfish and cowardly methods employed by Republicans over the past 40 years.


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