Where The Money Is: How Trump’s Tax Cut Plundered America

Famed bank robber Willie Sutton once explained that he busted into banks because “that’s where the money is.” What a small-timer! Corporate thieves — including the biggest banks — know that the big scores are in the tax code and federal budget. America’s superrich establishment decided to woo Trump and his fanatical constituency to back their agenda of plutocratic plunder.

It’s working. The big legislative accomplishment of the guy who claimed to be a working-class hero was his 2017 Christmastime signing of the Tax Cuts and Jobs Act. As most Americans now realize, the tax cut was not for them but instead was a disgraceful trillion-dollar-a-year giveaway to corporate giants and their wealthiest shareholders.

According to Americans for Tax Fairness, hundreds of Trump’s corporate backers are already making a killing. In just the first three quarters of 2018, big business quietly pocketed stunning tax savings they would have — and should have — paid to support America’s public needs:

• Apple: $4.5 billion
• AT&T: $2.2 billion
• Bank of America: $2.4 billion
• Verizon: $1.75 billion
• Walmart: $1.6 billion

View the complete May 4 article by Jim Hightower on the National Memo website here.