GOP Tax Plan: Just Another Scam

Trump tapped two former Wall Street executives, Steven Mnuchin and Gary Cohn, to secretly craft a tax plan and force a partisan vote without the American people knowing how much they’ll be harmed. This plan was written by Wall Street, for Wall Street.

  • Trump is blatantly lying about his tax plan that would overwhelmingly benefit the rich and corporations at the expense of working Americans
  • Trump and his aides are inventing misleading numbers to try to pass off their corporate tax giveaway as a middle-class tax cut
  • The reality is, working families would see little benefit from Trump’s budget-busting plan, and many could actually end up with a tax increase

Trump admitted the American people have a right to know how much he would personally benefit from his proposed tax cut, yet he still refuses to release his tax returns.

  • Based on the one year of returns we have seen, Trump and his family stand to save over $1.1 billion from his proposals to eliminate the estate and alternative minimum taxes, and to cut the tax rate for the wealthiest individuals and pass-through businesses

Senate Republicans are voting this week on a budget resolution that includes $1.5 trillion in cuts to Medicare and Medicaid in order to pay for tax cuts for millionaires and wealthy corporations.

  • We’ve seen this playbook before. Republicans tried to cut health care to give the top 1% a tax cut, and now they are trying to give the top 1% a tax cut in order to cut health care. Yet again, hard-working Americans are hurt, while the wealthiest Americans reap the benefits.
  • The Republican plan does not benefit most lower and middle-income Americans.  The White House can’t even promise that taxes won’t go up for middle-and-working-class families.

80% of the GOP plan’s tax cuts would go to the top 1% over the next decade.

  •  One in four middle-class families will pay higher taxes over the next decade under the GOP tax plan.

The GOP should get serious about actual tax reform and join Democrats in promising that not one penny in tax cuts should go to giant corporations or the 1%.  That’s not going to happen and that’s why we are working for #DemocratMajority2018!

 

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