If anyone still thought Donald Trump was looking out for the little guy, they should really take a look at these two pieces of news from today.
President Donald Trump says he plans to freeze automatic pay raises for civilian federal employees in 2019, citing the need for government belt-tightening.
In a letter to Speaker of the House Paul Ryan, Trump said he is zeroing out both across-the-board pay increases as well as locality pay raises that are based on where federal employees live. The scheduled pay raises were set to go into effect in January 2019.
“We must maintain efforts to put our nation on a fiscally sustainable course, and federal agency budgets cannot sustain such increases,” Trump said in the letter.
President Donald Trump said he’s considering a capital gains tax break by issuing a regulation that would index gains to inflation.
“There are a lot of people that love it and some people that don’t,” Trump said Thursday in an Oval Office interview with Bloomberg News. “But I’m thinking about it very strongly.”
More than 63 percent of the benefit would go to the top 0.1 percent of taxpayers — and the tab would be $102 billion over the next decade, according to estimates by the Penn Wharton Budget Model.
By the way, Trump is calling it a pay raise that is being cut for federal employees. It is not. It is a cost of living pay increase. So cutting that cost of living pay increase is essentially a pay cut.
In addition, Donald Trump and the GOP have already passed a corporate tax cut that has put a trillion dollar hole in the federal budget. They had no worries about the federal budget then. But when it comes to cost of living adjustments for federal employees, all of a sudden the budget becomes a concern.
And, if that wasn’t bad enough, on the exact same day as he voices concerns about the federal budget when it comes to cost of living increases for federal employees, he voices support for an additional tax cut that would hurt the same budget he just said he was concerned about.
Oh, and 63% of the new tax cut Trump is considering would go to the top 0.1%. Not the top 2%. Not even the top 1%. the top 0.1%.
I mean, wow.
And that’s without mentioning the $25 billion Trump wants to spend on a wall, or the $8 billion he wants for his “Space Force”, or the $12 billion on a bailout for farmers because of a problem he caused, or the $74 billion increase to the defense budget which already was larger than the combined total of the next 12 highest defense budgets from other countries. None of those expenditures apparently create any concern for Trump when it comes to the federal budget. No, he only becomes concerned about the budget when it comes to workers being paid enough to even keep up with inflation.
Happy Labor Day from Donald Trump!