The GOP tax bill, written in haste and with no public input other than what special interests and wealthy donors can buy, is an awful piece of legislation.
It subverts if not destroys the Affordable Care Act and costs between $1 trillion and $1.5 trillion over 10 years PLUS it provides permanent tax breaks to our corporate overlords (from 35% to 21%). Most other dollars go to the rich with a sprinkling of loose change being thrown at the middle class. They’ve sunsetted the individual breaks, though, so those may return to normal in 2025.
This trickle down theory of economics didn’t work in the ‘80s (or more recently in Kansas) and it’s not going to work now. Given the cost, you can fully expect the GOP to go after Medicare, Medicaid, and Social Security next in order to fund this monstrosity.
At best, this is an embarrassing gift of money to the very people and corporations who’ve already benefitted the most from America (and, it hardly needs be added, who need it least). At worst, the GOP has taken away people’s healthcare and retirement and significantly damaged the economy and American society.
My level of disgust couldn’t be much higher.