Robin Cole: Don’t expect any savings from tax reform, just a tiny trickle

Think you’re going to be singing “Money, Money, Money” if the tax reform bill passes? I don’t think so. Congress is saying that giving large corporations a gigantic tax cut, lowering their rate from 35 percent to 21 percent, will allow those corporations to raise your salary and bring jobs back to America. This theory is called “trickle down economics.”

Some of us remember that occurred in the 1980s. CEO salaries and corporate profits increased like crazy and the salaries of everyday Americans remained flat, jobs were eliminated and many operations were moved out of the U.S.

“Trickle” is defined in two ways 1) Verb: flow in a small stream, 2) Noun: a small flow of liquid. The common word here is small – and that’s what we, the American worker, will get – a small, tiny, little trickle; maybe just a drip.

Don’t be fooled as your Congressperson sings the praises of this bill. Most of them are financially beholden to large corporations. Those corporations will get a flood of savings, we might get a “trickle”.

Call your congressperson and tell them how you feel they should vote. Maybe sing them different song – “Bye, Bye, Bye”.

This story was originally published December 14, 2017 at 4:49 PM with the headline "Robin Cole: Don’t expect any savings from tax reform, just a tiny trickle."