$4.5 trillion tax cuts, mostly for the rich

Dear editor, During the next weeks, Congress will work out details on how to offset the $4.5 trillion tax cut which will benefit mostly the super-rich. Since the Reagan era, Republicans have strongly promoted a supply-side, “trickledown” economic model. The premise has been to cut taxes for the wealthy in hopes of attracting international investment and stimulating innovation and production. But this theory has serious flaws.

In reality, many wealthy individuals used their tax savings not to invest in the economy, but to buy back stocks—boosting their own wealth — while hiding money in offshore tax havens, far from the IRS’s reach. Meanwhile, the middle class has struggled, losing purchasing power and contributing less to the economy. That matters, because markets are primarily demand-driven. It’s the working and middle classes — who tend to spend more of their income — that actually fuel economic growth.

These tax cuts have also reduced government revenue, increasing our national debt, which now stands at $106,000 per American. Congress is now considering another $4.5 trillion tax cut. While the middle class will get a small piece—partially offsetting rising costs due to tariffs—the overwhelming majority will go to the ultra-wealthy, further widening the gap between the rich and poor.

I understand that it may be difficult for CongressmanDerrickVanOrdenandSenator Ron Johnson to vote against the interests of their wealthiest donors — but they were elected to represent all of us. It’s time to give us a break and tax the rich fairly.

Markus Fasel

Chippewa Falls