From the Economic Policy Institute (http://www.epi.org/):
In December, when Republicans passed the Tax Cuts and Jobs Act (TCJA) they chose to make tax cuts for corporations permanent, while making the individual provisions temporary to satisfy the requirements of budget reconciliation. Republicans sold these corporate tax cuts as being beneficial to everyday working people, despite the fact that previous experience gives us no reason to believe that corporate rate cuts will trickle down to anyone.
It’s been nine months since the tax bill was signed into law, and the rapid surge in investment promised by proponents of the TCJA has still yet to materialize.
In short, that $4,000 raise promised by Donald Trump and Paul Ryan hasn’t materialized. The administration has been reduced to claiming that workers don’t know their own pay and would see benefits from the tax cut if they just knew how to calculate their salary correctly, but EPI researchers have explained why this is wrong.[1][2]
The reality is that instead of investing in the U.S. economy through wage hikes and new good-paying jobs, corporations are instead rewarding CEOs and wealthy shareholders with their windfall tax breaks.
But instead of prioritizing policies that actually raise the wages of working people, the House of Representatives plans on voting this week on a second round of tax breaks that mostly benefit those at the top.
Stand with the EPI Policy Center and write to your representative right now. Go to http://www.epipolicycenter.org/taxscam2/ to tell them to vote NO on a second round of tax cuts for the rich and corporations.
Paul Ryan and Donald Trump’s tax plans amount to nothing more than the tried-and-failed trickle down policies of the past that enrich those at the top on the backs of working families.
Thank you for taking action and demanding an economy that works for everyone, not just the wealthy few.
[1] http://jaredbernsteinblog.com/thumb-on-the-scale-correcting-the-ceas-corrections-re-real-wage-growth/
[2] https://www.epi.org/blog/what-to-watch-on-jobs-day-keeping-a-cautiously-optimistic-eye-on-wages/
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