Taxes

Workers Get Wise to GOP Tax Scam

The Republican tax scam doesn’t fool Bryan Barkalow, a lumberyard worker in Dayton, Ohio. President Trump is “pulling out jazz hands [razzle-dazzle] and shiny stuff up front and will screw us on the back end,” he warns. Dan Marker, a worker at a machining and welding shop, says, “Probably my biggest concern here is that, if Washington cuts taxes, fine, what services are they going to do without?”

Tax Scam Support Stalls. Barkalow and Marker are among two dozen workers in the Dayton area who expressed growing doubts about the GOP tax plan.

  • Recent national polls show support for the law stagnating, in spite of multi-million-dollar advertising campaigns promoting it, including a blitz bankrolled by the billionaire Koch brothers.
  • The latest Quinnipiac University survey shows 50 percent opposed and only 36 percent in favor.
  • Only 24 percent of working Americans say their paychecks have increased because of the tax plan.

Social Security, Medicare, & Education on the Chopping Block. Working Americans understand they’re being stuck with the bill for $1 trillion in tax cuts for large corporations and the super-rich. The Trump administration’s budget cuts Medicare, Medicaid, Social Security, public education, and college aid from working families.

Benefits Go to Shareholders, Not Workers. More than 70 percent of the corporate tax cuts are enriching shareholders without raising wages or creating jobs.

  • Companies are on track to buy back a record $800 billion of their own shares, artificially boosting stock prices.
  • The other perks for Wall Street—increased dividends and costly corporate mergers—aren’t promoting economic growth, new jobs, or pay raises.

 

Categories: Taxes, Trump