ie. Kochs, Mercers, and moreGOP Admit Their Tax Plan Is All About Rich Donors. Common Dreams:“‘All of us realize that if we fail on taxes, that’s the end of the Republican Party’s governing majority in 2018,’ South Carolina Republican Lindsey Graham told Fox News recently. In fact, ‘that’s probably the end of the Republican Party as we know it.’ If the tax giveaway doesn’t pass, adds Utah Republican Mike Lee, “We might as well pack up our tent and go home.’ The thing is, that doesn’t make any sense. Gallup polls have shown over and over that most Americans think rich people and corporations should pay more, not less. Even a majority of Republican voters worry about what this wealth grab will do to the deficit. If they were looking for a win, then, Republicans would be running against their own plan. So what gives? Well, New Jersey Republican Chris Collins recently offered a clue: ‘My donors are basically saying, ‘Get it done or don’t ever call me again.'”
House Republicans have unveiled their tax plan, and you shouldn’t believe the hype.
They’ll tell you that high-income households won’t receive tax breaks. And that their tax plan will result in higher wages for working people. Both are false.
Thanks to another loophole they’ve added for so-called “pass-through” income, top 1 percent households will receive a massive tax cut. They call this a tax cut for small businesses. That’s also false. According to a recent Treasury Department report, 70 percent of “pass-through” income is claimed by the top 1 percent.
They’ll also claim that lower corporate tax rates will trickle-down to working people. But, across U.S. states, reductions in corporate tax rates are not associated with faster median wage growth. They result in a higher share of income going to the top 1 percent.
Stand with the EPI Policy Center and our partners in rejecting Donald Trump and Republican leaders’ tax plan that benefits corporations and the top 1 percent at the expense of working families. Write to your members of Congress today!
House Republicans have unveiled their tax plan, and you shouldn’t believe the hype.
They’ll tell you that high-income households won’t receive tax breaks. And that their tax plan will result in higher wages for working people. Both are false.
Thanks to another loophole they’ve added for so-called “pass-through” income, top 1 percent households will receive a massive tax cut. They call this a tax cut for small businesses. That’s also false. According to a recent Treasury Department report, 70 percent of “pass-through” income is claimed by the top 1 percent.
They’ll also claim that lower corporate tax rates will trickle-down to working people. But, across U.S. states, reductions in corporate tax rates are not associated with faster median wage growth. They result in a higher share of income going to the top 1 percent.
Stand with the EPI Policy Center and our partners in rejecting Donald Trump and Republican leaders’ tax plan that benefits corporations and the top 1 percent at the expense of working families. Write to your members of Congress today!
