Tag: GOP tax cut for the rich

‘We’ve lost’: Republicans admit their tax scam tanked with Americans

An internal RNC poll shows voters know the GOP tax scam overwhelmingly benefits the rich — not middle-class families.

Mitch McConnell, R-KY., 2018. Credit: J. Scott Applewhite, AP

The Republican tax scam was always set up to favor wealthy corporations at the expense of middle-class families. And now Republicans are learning most voters see through their spin and understand the tax scam for exactly what it is.

Bloomberg obtained a private, internal poll from the Republican National Committee (RNC) showing “By a 2-to-1 margin — 61 percent to 30 percent — respondents said the law benefits ‘large corporations and rich Americans’ over ‘middle class families.’”

In response to the data, the pollsters wrote “we’ve lost the messaging battle on the issue.”

View the complete September 21 article by Dan Desai Martin on the ShareBlue.com website here.

Housley and the GOP Tax Law: A Casual Disregard for Doing the work for Minnesotans

Karin Housley has demonstrated a casual disregard for doing the work to learn about the issues that affect Minnesota families. Today, let’s look at Housley’s inability to explain what she would do on the Republican tax law.

When asked recently whether she thought changes should be made to the Republican tax law, which adds $1.5 trillion to the national debt and risks major cuts to Social Security and Medicare, Housley declared, “We still need to make some tweaks, it’s not perfect.”

But when pressed on what tweaks she would like to see to the law — which also provides 83% of its benefits to the richest 1% of people and gives a trillion-dollar tax cut to big corporations, including prescription drug companies, big oil and Wall Street — Housley was unable to name a single change she would make to the federal law. Her only response: “Well we have here in Minnesota, where we didn’t get the tax conformity bill.” Continue reading “Housley and the GOP Tax Law: A Casual Disregard for Doing the work for Minnesotans”

Voters Know Republicans Won’t Fight For Them On Health Care Or Tax Cuts

Voters know that Republicans don’t have their backs on health care or tax cuts. While Republicans only want to sabotage the Affordable Care Act, Democrats are fighting to increase access and affordability of care. The Trump tax law has not raisd workers’ wages as Republicans promised, but Democratic-led efforts to raise the minimum wage have increased wages for workers in states across the country.

Voters have switched parties for the midterm elections because they know that Democrats will fight for them on health care.

CNN: “The issue of health care has made Hansen a Democratic voter in the upcoming midterm elections. And in this ruby red area of Kentucky, it seems he is not the only one. Indeed, there are some signs of a blue wave in a corner of the Bluegrass State.” Continue reading “Voters Know Republicans Won’t Fight For Them On Health Care Or Tax Cuts”

Trump Tax 2.0: Republicans Double Down On More Tax Cuts For The Rich

The Trump tax law has not helped working Americans. Now, Republicans plan to double down on more tax cuts for the rich with a vote this week on the Trump tax 2.0. It’s clear where Republicans’ priorities lie, and voters will hold them accountable in November.

A majority of Americans have not seen their paychecks increase from the Trump tax law.

  • 6 in 10 voters say they aren’t seeing any additional money in their paychecks since the Trump tax law.

Now, Republicans want to double down on more tax cuts for the rich with the Trump tax 2.0.

Chicago Sun-Times Editorial: “Republicans in Washington want to double down on a bad bet with more deficit-ballooning, wealth gap-widening tax cuts. House GOP leaders want to vote by Oct. 1 on ‘Tax Reform 2.0,’ another scheme to make the richest Americans even richer while tossing crumbs to John and Jane Q. Public.” Continue reading “Trump Tax 2.0: Republicans Double Down On More Tax Cuts For The Rich”

Credit-Card Republicans Dig A $900 Billion Hole

Trump’s Deficit Chickens Now Coming Home To Roost

President Donald Trump is applauded by Speaker of the House Paul Ryan (R-WI) and Senate Majority Leader Mitch McConnell (R-KY) Credit:  Joshua Roberts, Reuters

The first of two official government reports that will be released this month showing that the federal budget deficit is soaring was issued on Monday when the Congressional Budget Office published it’s Monthly Budget Review for August.

According to CBO, the deficit through the first 11 months of fiscal 2018 was $895 billion, a $222 billion (32.8%) increase over the same period in 2017.

Some of the increase was the result of timing shifts, that is, spending that was made at the end of August because the first two days of September were on weekend. The deficit for the 11-month period would have been only $154 billion larger than 2017 had it not been for that.

View the complete September 13 post by Stan Collender on the DCReport.org website here.

The Tax Bill That Would Launch More Than 13,000 Yachts

Credit: Xeromatic via Lifeofpix.com

The current congressional majority has made its priorities painfully clear. In 2017, the legislative calendar was dominated by an attempt to strip health care from millions of people in order to provide significant tax cuts to the wealthy. When that failed, Congress turned to a tax bill known as the Tax Cuts and Jobs Act of 2017 (TCJA), which was essentially a corrupt giveaway that provided massive windfalls to wealthy donors, special interests, and members of Congress themselves. The law will provide more than $84.7 billion in tax cuts to the top 1 percent of Americans in 2019, while increasing health insurance premiums for millions of people and resulting in nearly 9 million fewer people with coverage.

Many of the staffers who were most involved in the TCJA’s passage have left the Hillfor lucrative jobs as lobbyists for the special interests to whom they provided special tax breaks. Rep. Pat Tiberi (R-OH), who helped draft the TCJA, left shortly after its passage to become the head of the Ohio Business Roundtable—many of whose members benefited substantially from the bill.

Perhaps the most ostentatious example of this corruption came from Florida Rep. Vern Buchanan (R). Rep. Buchanan sits on the House committee that was charged with drafting the TCJA—a bill that gave him millions of dollars in special tax breaks. On the same day that he voted to pass the bill, Rep. Buchanan purchased a brand new 73-foot yacht with a base price of nearly $3 million.

View more of the article by Sam Berger and Galen Hendrickson on the Center for American Progress website.

Voters Are Not Feeling Benefits From The Economy

Most voters are not feeling any benefits from the growing economy. That’s because Trump and Republicans’ policies are only benefiting those at the top. While wealthy CEOs and big corporations take in record profits, real wages for workers continue to decline. Now, Republicans want to make life even harder for working families by gutting vital safety net programs they rely on, in order to help pay for more tax cuts for the rich.

Most voters are not feeling any benefits from the growing economy. Trump’s economic policies only benefit those at the top.

CNBC: “‘The economy’ may be roaring, but for most voters their economy is not. The difference between those two things reflects the income inequality that has defined America’s modern economy. The positive news Wall Street savors — robust corporate profits, rising stock prices, surging output growth — deliver the greatest rewards to a relatively modest share of more affluent Americans. The rest don’t feel it all that much.” Continue reading “Voters Are Not Feeling Benefits From The Economy”

U.S. Steel potentially faces ‘largest work stoppage since 1986’

The following article by Joseph S. Pete was posted on the NWITimes.com website September 10, 2018:

United Steelworkers union members rally for a fair contract outside Gary Works earlier this month.

The United Steelworkers union is accusing U.S. Steel of “playing a dangerous game of chicken with the markets, steelworkers and America,” as the possibility of the largest strike in more than three decades looms over ongoing contract talks.

U.S. Steel employees across the country voted overwhelmingly to authorize a strike as the USW and U.S. Steel return to the bargaining table. The company has proposed a six-year contract it said would mean stability for families, a slight increase to 401(k) plans and a raise of 4 percent in the first year and 3 percent in each of the next two years.

The union objects to out-of-pocket health care costs that would in some cases reduce workers’ overall compensation, a switch from traditional pay raises to profit-sharing over the last three years in a six-year contract and a reduction in retiree benefits.

View the complete article here.

Want to Know More About: The Trump Tax Cut and the Federal Deficit

Mika Brzezinski: “According To New Analysis From The Nonpartisan Congressional Budget Office, The Deficit Rose By $222 Billion In The First 11 Months Of 2018. That Is A 3 2% Jump From The Same Time Period Last Year.” BRZEZINSKI: “The federal deficit on track to hit $1 trillion before the end of the fiscal year two years earlier than expected. According to new analysis from the nonpartisan congressional budget office, the deficit rose by $222 billion in the first 11 months of 2018. That is a 32% jump from the same time period last year. That brings the total figure to $895 billion.” [Morning Joe, MSNBC, 9/12/18; VIDEO]

Mika Brzezinski: “The CBO Says The Surge Is Due To The New Republican Tax Law And An Increase In Government Spending.” BRZEZINSKI: “According to new analysis from the nonpartisan congressional budget office, the deficit rose by $222 billion in the first 11 months of 2018. That is a 3 2% jump from the same time period last year. That brings the total figure to $895 billion. The CBO says the surge is due to the new Republican tax law and an increase in government spending. Officials say the figures were somewhat inflated due to a timing shift for some payments by the government.” [Morning Joe, MSNBC, 9/12/18; VIDEO]

Our taxes are up 23 percent, thanks to Erik Paulsen

To the Editor:

Remember the Republican tax cut bill that Rep. Paulsen worked so hard to pass? It’s the one that massively cut taxes for corporations and the top 1 percent.

For us, it will mean a 23-percent increase in our taxable income and a 35-percent increase in our federal tax bill. We are retired and pay estimated taxes throughout the year. Our CPA did the arithmetic with the new tax bill and our 2017 income to figure out what we should be paying in estimated taxes for 2018 and he shared all the numbers with us. The result has been a 23-percent increase in our estimated tax payments; the final results are above.

We know this tax bill cut taxes for corporations and the top 1 percent; they are undoubtedly grateful to Rep. Paulson (sic). Wonder what it did for your 2018 tax bill.

Gwen and Mason Myers, Minnetonka
Minnetonka Sun-Sailor, September 10, 2018