President Trump proposed a new tax plan last week, which by every analysis, will result in a huge money transfer from our nation’s coffers to the top 1 percent of Americans. Theoretically, Trump has said he intends his plan to be a tax cut for everyone, but the truth is that the very richest would benefit far more than anyone else.

“This looks like a tax cut of a magnitude of about $5 trillion,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a bipartisan advocacy organization for fiscal responsibility. “That is simply unimaginable given our fiscal situation and the size of the deficit…”

The plan is supposed to offset this tax cut by growing the economy. But there are no economists who agree that growth will compensate for this amount of spending.

“I’m the king of debt,” Mr. Trump said last year on CNN. This is a good thing?

The fact that the Republican President filed for bankruptcy six times should have us all quaking in our boots. What happens when the U.S. government is driven into bankruptcy? The poor and the middle class will suffer disproportionately, and the result will be far worse than the great recession. Fiscal conservatives, traditionally Republicans, as well as Democrats and progressives who believe wealth should be distributed more evenly, should all refuse to allow Trump to cynically and selfishly rob the government and blow up the deficit to further enrich himself and his already rich cronies.

Patricia McSwain

North Bend