Why Do The Ultra Wealthy Need Another Tax Break?

I’m befuddled. Why do we need an additional seismic tax break for the ultra wealthy?  Didn’t we do that for these needy folks back in Trump’s first reign?  And didn’t said monumental tax break contribute mightily to increasing our nation’s world-ending national debt?   I mean outside of being fiscally responsible, which isn’t a bad thing, isn’t the whole reason for the DOGE chainsaw cuts, to reduce our national debt and make it the shiny plum it used to be?  We want to be great again, right?  And we were told by many that the gothic pillar supporting this effort to be great again was that we needed to eliminate or immensely decrease the national debt. And all kidding aside, yes, decreasing the national debt is an important thing to do.  But if we feed another gigantic tax break to the voraciously ultra wealthy, aren’t we repeating history, increasing the debt and in doing so, not making us great again?  To be fair, I am not a mathematician.  But isn’t this simple arithmetic?  If the national debt is 3T and we cut people, needed services, inefficiencies and fraud in the amount of 2T, but we give the hungry, ultra wealthy a tax break of 2T as well, aren’t we still left with a soul crushing national debt of 3T?  We didn’t fix anything!  Then what happens in year two?  Do we start by recreating The Miracle of the Fishes and Loaves?

In 2025, the United States will have 750 billionaires (I got this from google, they’d never lie). And 30,000 folks with wealth that exceeds $100 million dollars, at least there was a short while ago.  We’ll have an overall population of 345 million…give or take a few billionaires.  Can someone please explain why a person or family with a bank account that shows at least $100M needs another tax break, remember, they just got a whopping one about 7 years ago.  It could be that I’m just out of touch with the needs of the wealthy.  I’m thinking of Ralph Kramden, the bus driver character from the TV show, the Honeymooners.  He’s found a million dollars on his bus and now just has to have a boat with three propellers.  I mean, how many private islands can you use at one time?  Will these well to do folks with their new tax refund be eating out more at our local establishments adding to the local economy?  I don’t think so.  And why, because most of these ultra wealthy, in New Jersey at least, are Farmers.  They take advantage of the loophole in the Farmers Act of 1964 and pay 2% of their property’s real estate tax bill.  So no, we the large middle class pay their taxes and we support the local economy.  And not for nothing, would it be too much for these Farmers to come by our houses, knock on the door and personally thank us for paying their taxes?  And if the spirit moves them, they can mow our lawns.  For the fanatically wealthy, like Woody Johnson who owns the Jets, I think it would be appropriate for him to have us all over to the stadium for a classy tailgate party and an afternoon in the box to watch a game.  For Donald Trump, I think it would be passable for him to have us over for a round of golf and a good old fashion barbecue at the clubhouse.  But I digress.  

A better question, why is it acceptable to indiscriminately take people’s jobs, when an intelligent analysis was not done?  And why is it okay to take away needed services from folks truly experiencing desperate times?  Starting in 2011, 10,000 people a day started turning 65 in the U.S.  (Go Baby Boomers!) DOGE cutbacks to Social Security are closing offices, eliminating jobs and cutting back phone support.  In February the Social Security phone call busy rate was 1.5% (frustrating dropped calls).  In March it shot up to an agonizing 28.4%.  Image being on the phone waiting for two hours to let Social Security know you’ve changed bank accounts - then the call is dropped and you have to start all over again, and again.  Social Security keeps 16 million people out of poverty and provides at least 50% of income for more than half of the 65+ households.  It’s not enough to say we won’t steal from the Social Security Fund to give a tax break to the ultra wealthy. (Oh, and by the way, it’s our money, we had it taken out of our paychecks for decades, we earned it – It’s not an entitlement or gift!) If people can’t get at their funds because the government has made it too difficult to reach them, then we’ve gone too far and committed a grievous disservice to our senior citizens.  Imagine being in your 80s or 90s, wanting to support yourself, fighting for your dignity, but you have too many complex roadblocks thrown in your face. It’s dehumanizing.  All for what, to provide a tax cut to those who overwhelmingly do NOT need it?  Why is that okay to do, why do we let that happen?