From the Economic Policy Institute (http://www.epi.org/):
The tax legislation signed late last year is not a serious job-creation policy, and it won’t increase wages.
Six months ago, the tax bill was signed into law. 83 percent of its benefits will go to the richest 1 percent when it fully phases in, and no workers outside of the executive suite should expect a raise.
Now, House leadership is planning a vote on taxes “round two” this summer. But we can stop this massive handout to the richest Americans.
Sign the petition at https://actionnetwork.org/petitions/take-action-stop-trumps-tax-scam-round-2-for-the-rich-and-powerful demanding Congress reject taxes “round two” and demand an economy that works for everyone, not just the wealthy few.
The original tax bill, passed in December:
- Weakened the estate tax, which only impacts the richest 0.2 percent of Americans;
- Lowered tax rates on so-called “pass-throughs,” including hedge funds, private equity firms, and real estate LLCs;
- And, rewarded corporations that have, for years, been dodging taxes―allowing them to repatriate offshore profits at lower rates, encouraging multinational corporations to continue shipping jobs and profits overseas.
Since then, Congressional Republicans have attempted to cut Social Security Disability, Medicare, Medicaid and more. And the administration’s own budget proposal would have cut $1.7 trillion from critical programs to pay for his $1.9 trillion tax scam. The Republican budget being debated this week in the House calls for similarly huge cuts to these programs.
Thank you for standing with us as we demand an economy that works for everyone, not just the wealthy few.
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