Some thoughts on “successful” tax reform legislation!

Last night on the television news I saw a smiling Donald Trump and members of his government, massed ranks of Republicans, grinning like Cheshire cats because of the legislation they had just passed cutting taxes.

In today’s newspapers I read that TJ Helmstetter, communications director of Americans For Tax Fairness, said: “This is not tax reform, it’s a money grab by the ultra-wealthy, including the multimillionaires in Congress and Trump’s own cabinet, who will benefit. When all is said and done, over 80% of the tax cuts will wind up in the pockets of the top 1%. Meanwhile, all of this will be paid for by the middle class and families who are struggling to get by.”

I wonder if the Republican in the street, the ones who work in the factories and so on, feel equally happy about the reforms. Are they smiling as much as their leader?

The newspaper also said that President Trump himself stands to save between §12million and $15million as a result of these tax reforms.

His son-in-law, Jerard Kushner will be better off by about §12million.

Various high-ranking members of the government will save millions as well.

It’s very nice to have enough money to buy whatever you want, within reason. (I still think part of the pleasure of acquiring stuff lies in the anticipation of saving up and eventually being able to afford it all, but that is another matter altogether.) However, when I read about people making savings of tens of millions of dollars, I find myself wondering once more how much money any one person needs. Do they suffer from a deep-seated insecurity that makes it necessary for them to amass huge amounts of wealth that they will never spend?

I am reminded of Smaug the dragon in Tolkein’s “The Hobbit”, sitting on top of his hoard of gold, never actually doing anything with it, not admiring it for its intrinsic beauty but just wanting to keep it safe for himself. At least the dwarves who planned to steal his hoard used the treasure to embellish their caves and loved it for its beauty. What use is a fine piece of artwork if it remains stored in a vault as an investment?

Imagine how much good could be done in the world if all the rich folk who stand to save all those millions of dollars in tax cuts were to donate those savings to the needy. Or they could put it into medical research. Or they could use it to help solve the environmental problems of the world. Oops, no! Environmental problems are off the list of threats, according to POTUS; the important thing is to make the USA economically competitive!

There you go! Rant over!