With the Republican tax plan finalized in Congress, Trump is accomplishing his main goal — enriching his family, his wealthy friends and his donors. If this tax plan is so great, why is it being rushed through Congress literally in the dark of night? Cutting taxes on the wealthy will do nothing for the economy but guarantee the rich will get richer. Corporations making record profits do not need a tax cut that will be paid for by saddling average Americans with future debt.
Corporations go where labor is cheapest — that’s why so many American jobs have been outsourced over the past several decades. Cutting corporate taxes will not bring those jobs back and will not lead to higher wages for American workers. Few corporations pay their fair share in taxes now and many pay none at all.
Trump refuses to release his tax returns, so the American people have no way of knowing how much these tax cuts will benefit Trump and his businesses. Taxpayers deserve to know if our hard-earned money is going to the President’s personal gain.
This Republican tax plan increases the debt by a minimum of $1.4 trillion. Republicans have always used deficits as an excuse to cut public education, mental health programs, Medicare, Social Security and Medicaid. This tax plan, with its resulting increase in debt, emboldens their bigger plan to cut those programs. With economic inequality at an all-time high, this tax scam will only widen that divide.