Americans generally have a limited understanding of how the economy works, and the knowledge base of Trump’s core voters is probably thinner than most. When Republicans promise that their proposed tax plan will leave more money in the pockets of ordinary Americans, those Republicans driving this legislation omit the other half of the sentence. That unspoken piece is this: “So that you can provide for your own health care and retirement.”
The biggest entitlement programs, Social Security and Medicare, primarily benefit the middle class. The math simply doesn’t add up to leave those programs untouched, fund a big military ramp-up, and dramatically cut taxes. Anyone who believes that cutting taxes will fuel so much economic growth that the cuts will pay for themselves should take a hard look at Kansas.
Unfortunately, it will take time for the train wreck to unfold. By then, the damage to the economy and to middle class lives will be done.