• 32°

U.S. tax cuts are bad news for world’s other economies

Dear Editor,

For those who wonder why Democrats are against Trump’s corporate tax reform, it has nothing to do with Mr. Average, except he gets to keep more of his own money. The EU and China are having palpitations because of the impact American tax reform will have on their economies. Bringing American capital home means it will be lost to governments that have, for far too long, financed their social welfare and expansionist agendas on the back of the American economy.

Foreign countries are going to lose investment money in their countries because our companies can now make a profit in America, and all that wealth can come home. And their companies might invest in America rather than at home. By leveling the playing field, we now see how decrepit and dependent these foreign economies are.  

The E.U. especially is in big trouble. What happens when it no longer can provide socialism for millions of migrants looking for hand-outs? Revolution.

Naturally, an America First policy angers the Left because it destroys the system whereby America underwrites globalism at the cost of American economic well-being. For far too long, the American taxpayer has propped up foreign governments who gleefully bash America along with the Washington elites enriched by lobbyists who bribe them to maintain the status quo.

If Trump does nothing else his entire term, tax reform alone has made him the first pro-American President we’ve had since Eisenhower. God bless him for liberating the American taxpayer from E.U. and Chinese servitude!

Jenean McBrearty

Danville