Letter: Enjoy that extra $20 on your paycheck while you can
Steve Strege's letter published Dec. 27 could have been written from the Fox News playbook. He says, "Where was the Democrats' concern during the Obama administration where $10 trillion was added to our debt?" First of all, it was under $8 trillion, but it included the economic stimulus package. Did you forget that the Republicans controlled the legislative branch for six of the eight years Obama was in the White House? And did you forget that much of it was to bail out the rich banks that scammed America for years?
The $1.5 trillion being added with this tax cut is being introduced when the country has historically low unemployment rates and high consumer confidence, so this is not a stimulus package.
The problem isn't that Democrats don't like more money in their pockets, it's that the vast majority of the cut is going to the most wealthy Americans. The funniest part is that Republicans pulled it off by convincing people like Steve that this is a middle America tax cut.
And Steve says that our 401(k)s will benefit from the tax plan. Did you know that 35 percent of our stock is owned by foreign stockholders? When the market goes up, a huge chunk of it benefits other countries. Call it an inconvenient truth.
Yes, the wealthiest Americans pay the most tax, but who will suffer with this added debt? Middle America will.
Enjoy the sugar-high now from seeing an extra $20 to $40 a pay period being added to you checks because when the cuts start happening to Social Security and Medicare and other programs, middle America will be the ones who will suffer.
This tax cut was to pay back the donor class. Period. And Fox News and the Republicans have spent 24 hours a day lately brainwashing people. Sad.
Hanson lives in Fargo.