Trump’s Tax Plan is a Win for the Elite and a Threat to Everyone Else – Rezazade
The First Vice President of the Iranian Opposition in Washington, international expert Ali Reza Rezazade, commented on the massive tax bill passed by the US House of Representatives, which is a key element of Donald Trump’s economic program.
According to Rezazade, despite the administration’s promises to help the middle class, the proposed changes are largely aimed at enriching the wealthiest segments of society.
“This bill is not so much an economic strategy as a political maneuver that creates the illusion of helping ordinary Americans while weakening the social system,” Ali Reza Rezazade emphasized.
The bill provides for the continuation of reduced tax rates for households, an increase in the standard deduction, and an expansion of tax credits for parents and retirees. However, at the same time, it is proposed to reduce spending on Medicaid by $715 billion and increase requirements for beneficiaries. According to the Congressional Budget Office, this will lead to the loss of health insurance for almost 9 million people.
“The Trump administration is financing tax cuts at the expense of the most vulnerable - the elderly, the sick and the needy. This is destroying the foundation of the social contract in the country,” Rezazade said.
The bill also provides for the elimination of tax breaks for electric vehicles, reductions in student loan forgiveness programs, as well as reduced funding for food programs for the poor.
“Instead of systematically fighting high prices and economic inequality, the government is once again betting on tax breaks for the wealthy,” the expert noted.
According to Ali Reza Rezazade, this document has every chance of becoming the subject of a serious political fight in the Senate. It is predicted that the bill will increase the national debt by more than $2.4 trillion over the next decade.
"This is a short-sighted step that could lead not only to deepening social stratification, but also to serious economic risks for the United States," Rezazade concluded.
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