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Tax cuts for the rich

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Letter to the editor by Jerry Segovis

By Jerry Segovis

The federal government lost more than 1 trillion dollars of income over the last 10 years because of the tax cuts for the top 2 percent of taxpaying Americans. The Republicans are saying that these are the people that fuel the economy of our country by creating jobs for the rest of us.

Let’s think about this statement by the Republicans concerning taxpayers in the top 2 percent bracket and how they actually spend their money and create jobs. The multi-million dollar wage earners in the entertainment industry are living high on the hog with little or no thought on saving America with their incomes. Let’s move over to the self centered sports industry where the lowest wage earners are in the top 2 percent and who may spend most of their hard earned money on drugs and prostitutes. The starting pay for most of these sports figures is somewhere near a million dollars a year and the only industry they help employ is the bodyguard industry who try to protect these people from their adoring fans.

There is another group of millionaires who work on Wall Street trying to figure out a way to relieve their customers of millions of dollars to inflate their egos and bank accounts. One group that I really love and admire is the banking industry who knows how to relieve money from their customers the legal and easiest way possible by paying investors 1 percent or 2 percent on their money while collecting 10 percent or 20 percent in interest payments from those who must borrow this same money.

How many rich people really create jobs to help in the growth of America, not those mentioned above and not the super rich families who are living on the interest of their families’ investments. One group that I forgot to mention are the politicians who when elected to office with little money in the bank and leave office 20 years later as millionaires.

The rich who actually create jobs already get tax cuts through their businesses and writeoffs as a part of doing business in America. These may be the same people that are funding the Republican Party to be obstructionists in Congress.

We must stop this obscene practice of tax cuts for the rich and put this money into our economy where it will do the most good and stop creating this great divide between the rich and poor and help us all live together.

Jerry Segovis

Ocala