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Sept. 13, 2024 Editor, the News-Gazette: Outside of billionaires like Donald Trump and his buddy Elon Musk, there are few who believe billionaires and large corporations deserve a tax break. The rationale for such a policy is the long disproved theory of “trickle down economics.” Supposedly, corporations will invest their savings in job creation and wages, rather than simply adding it to their already enormous wealth. In reality, this has never happened. In fact, research, such as a long-range study by the London School of Economics, shows that, under such policies, the rich get even richer, while nobody else benefits.
Trump is now saying the corporate tax rate of 21% should be lowered to 15%. Kamala Harris wants to raise it to 28% and invest the additional $1.3 trillion in revenues for small business creation, down payments for home buyers, lowering prescription drug costs and child tax credits - things that directly improve our lives.
Our congressman, Ben Cline, follows the party line and will continue to cater to the ultra rich. Cline’s opponent, Ken Mitchell, knows better. His website clearly states that “trickle down economics has failed America.” Mitchell and Harris understand that to lift up ordinary Americans we need to invest in their future. ANNETTE GREEN Rockbridge County
