Remember when Mitt Romney asked us to believe that “corporations are people too?”
Well, under the Republican House tax proposal, which our congressman, Lee Zeldin, has largely embraced, the G.O.P. has done Mitt Romney one better. Corporations are treated much better than us normal folks; indeed, we are now second-class citizens compared to the treatment being lavished on corporations.
Teachers who purchase school supplies (pens, construction paper, and the like) for their students used to be able to deduct these expenses. Under the House Republican proposal the deductibility of this expense would be eliminated.
Workers used to be able to deduct state and local taxes. This deduction is largely eliminated under the House plan. Corporations? No problem, state and local taxes remain fully deductible.
Have to move because your employer is asking you to take a better job elsewhere? These moving expenses used to be deductible. Not anymore. Corporations? Move to another country and outsource their jobs there instead of the United States? The expenses are fully deductible.
Mr. Zeldin says he is fighting for us. But other than fighting the elimination of SALT (State And Local Tax) deductions, a pocketbook issue he knows would spell doom in 2018, he is in lockstep with the Republican notion of treating corporations better — much better — than us. What Mr. Zeldin has forgotten is that corporations can’t vote, but the people he is screwing can.