Euphemistically, trickle down economics don’t work. Plainly, giving tax breaks to richest Americans does not improve the economy. Uncharitably, the super rich having to hide less in off shore accounts because they can legally hoard it does not improve the domestic trade. Your endorsing of Donald Trump’s tax plan is disappointing even considering the Republican stance of willful ignorance for campaign finance. That connects a few more dots than necessary but it is true. You are paid to constantly fail America. Republicans fail their way up the political ladder. The measure of success is measured according to adherence to an abstract set of theories that have failed for the last forty years.
A published failure by Forbes and The Library of Congress in Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945 by Thomas L. Hungerford September 14, 2012. The short of that report is that the max tax rate has no correlation or positive link to GDP. What a lower tax rate does result in is a higher deficit growth rate and more unmoving concentrated wealth with the wealthiest Americans. In the words of the great American experimenter FDR “It is common sense to take a method and try it. If it fails, admit it frankly and try another.” The Republican party has been trying one method for over thirty years. The failure of trickle down economics is older than I am; yet, it persists.
This call for a lower tax rate on the highest tax brackets persists because of lying, obscured definitions and willful ignorance. The American economy is shrinking but we can misdirect because the overall growth isn’t zero the wall street numbers are at a record high. The conclusion that is drug out is redistributing wealth to the top is the end goal and hurts the rest of the country.
A small aside, when there is a democratic president, a big deal is made about managing our deficit but we talk about why. A bigger deficit means more money the government has to borrow by selling bonds to banks. When countries can no longer pay their debts, the people pay in austerity, which historically, never successfully is paid off. Dropping the government’s taxes on the rich will only shift that deficit burden to the people and wrongly redistribute more money to the top.
If we go along with the narrative that trickle down works, when does it work? It hasn’t worked for decades. Wages have stood still since the seventies. Businesses that were profiting still lowered their minimum wage when the state Republicans banned county wage increases. The middle class is shrinking. Life expectancy for middle and lower class people is dropping. Most of the largest companies already pay next to nothing in corporate taxes. How much less until it works? What is the exact number? The states with the lowest taxes that adhere to the strictest Republican ideas are doing the worst. Wisconsin’s budget is such a mess that they are about to say that teachers not working for volunteer wages is bankrupting the state and there is not a metric where Mississippi isn’t last.
This letter won’t change your mind because you know what you are doing, hurting Iowans. You now know that I know, and you can start a tally of people that aren’t buying it. (I have never received a response from you. So, at least that will spare me from canned response ignoring all reason. I can imagine your response. *Blum) (Your past responses to my letters have all been canned garbage. *King) I expect you to come back with the weak excuses like the economy isn’t completely broken, big donors like it, the party is agreed, or even try to cast doubt on the bipartisan report because it uses mottos people can understand (like Bush tax cuts) despite how that does not effect what the literal graphed data says. We can make a compromise. We can make the richest of America improve life for everyone but that would take more laws and government control. Taxing it would be easier.
*To be made more and less accusitory when made into personalised letters for Steve King, Rod Blum, Chuck Grassley, and Joni Earnst