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GOP Tax Plan X: Elite Favoritism

The economy is exactly what the elites want it to be. And post the GOP tax bill it will be even more of that. Elites will get an even larger slice of the pie, asset prices will further inflate as even more money chases existing real estate, stocks, and other investable assets. And the middle class – well things continue to get worse, as all the supports go underfunded and none of the abuses or upwards redistribution methods get addressed.

The imminent GOP tax cut is not a $1.5 trillion cut. It is a $4.5 trillion tax increase on the middle class to pay for a $6 trillion tax cut on the top 5% (with most of the gains going to the top 0.05%). All numbers represent 10-year totals.

At the end of 10 years, the top 5% will thus have quite a bit more of the national wealth than they otherwise would have if we had kept the current tax code. This is redistribution – upwards redistribution. Don’t let anyone tell you the GOP opposes redistribution. They are its greatest supporters – as long as redistribution is upwards.

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