Economy

The Reality of the Shimkus Tax Plan

Our current over two-decade incumbent Representative John Shimkus is now sitting on the House-Senate conference committee responsible with hammering out the final tax reform bill to be sent to the White House to become the law of the land. (Source: The Hill)

If his rhetoric online and in public is any indication, this bill will be as bad or worse than what was passed in either the House or the Senate. He often talks about the median when discussing the tax bill and how it will benefit taxpayers in the 15th District.

The unfortunate reality for the 50% under the median is that they will be hurt by this tax bill. That’s what happens when you focus on one point along a continuum in order to obscure the massive tax cuts for the top 50% and permanent corporate tax cuts that we all know won’t be used to increase wages but be given to stockholders instead.

Also, these tax cuts he gloats about expire for low income earners. The cuts for corporations, the ones that will increase the debt by trillions, do not.

Those corporate welfare cuts are massive in scale compared to the shortchange being thrown at hardworking citizens in our district. 

What we really need in the form of tax reform are targeted tax cuts that will raise wages, not just a massive corporate give away and hope it magically happens. I know I’m extremely tired of hoping people do the right thing, especially our representatives in Congress.

What’s also missing from the Shimkus tax proposal are the massive cuts to Social Security and Medicare that many within the Republican Party have already mentioned as being the next steps in this plan to transform our country.

Our seniors are already hurting enough the way it is. They don’t need further cuts.

They need more money every month to pay their ever increasing bills.

It’s painful to have to choose between medication or food.

Also missing from this discussion is the assault on healthcare. As much as I and anyone else find faults with Obamacare, what the Shimkus plan does will further increase premiums and deductibles and decrease choices for citizens within our district.

We need real relief from the high cost of healthcare, not an all out assault to increase costs for people.

So, the net gains will actually be a net loss for most citizens within the 15th District.

Oh wait, we’re missing the worst part of the tax bill. In the State of Illinois, we have one of the highest property tax burdens in America. Rep. Shimkus is planning to take away the ability of small businesses and families to deduct those high property taxes.

So, there are ZERO gains from this bill for the citizens of the 15th District, only losses.

The winners are just for campaign contributors, and, ultimately, for the campaign reelection fund.

Enough is Enough.

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Categories: Economy, Healthcare

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