To the editor: The Republicans in control of the government knew full well the consequences of their tax bill. Exploding the debt will provide an excuse to finally dismantle Social Security and Medicare, along with any other programs they do not like.
However, the solution need not be a 15% slash to public spending or a major tax increase for all Americans.
Income inequality is destroying the middle class, and with it, our democracy. Create a few more tax brackets, such as ones kicking in at incomes above $1 million, $10 million and $100 million. Also, reinstate the full estate tax.
We could return to the days when President Clinton’s budget surplus put us on track to retiring the national debt entirely. We could invest in much-needed healthcare, climate change mitigation and other crucial issues.
Randall Gellens, San Diego
To the editor: As I read the article stating that the Trump tax cuts are “helping push the nation toward an unprecedented level of debt, heightening the risk of another financial crisis,” I am reminded of what I heard recently on a talk show.
But as long as the economy is thriving, so many Americans are closing their eyes and minds to the unbelievable things that are happening around us on a daily basis. We have lived through many recessions, and we can survive those. What we can’t survive is the demise of our democracy.
Lynn Lorenz, Newport Beach