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Congress describes their proposed tax cut as a wonderful Christmas present for all of us. This sounds delightful, but it is only half of the story. Although the middle class may enjoy minimal tax relief and the top earners will enjoy significant cuts, there has been little conversation about how we will pay for these drastic changes. The proposed cuts will result in $1.5 trillion in debt over the next decade. This will certainly mean cuts to Medicaid, Medicare, infrastructure, small business incentives, investments in renewable energy, investments in medical research, investments in affordable housing, National Park funding, and much more.
Are we really willing to strip down our federal government to a dysfunctional shell simply for a small tax break this Christmas? I’m not willing to sacrifice investing in our children’s future America for a few dollars in lower taxes this holiday.
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