Using official Trump administration data, the report linked below shows how horribly unfair the Trump / Republican 2017 tax scam was.
The first data showing how all Americans are faring under Trump reveal the poor and working classes sinking slightly, the middle class treading water, the upper-middle class growing and the richest, well, luxuriating in rising rivers of greenbacks.
In another self serving transaction for Trump and his re-election campaign comes a tax cut for military service members who will receive bigger paychecks for the last few months of the year. The catch? They have to pay ALL the money back in 2021.
As the old refrain goes, “Nothing can be said to be certain except death and taxes.” However, for the corporations and the wealthy, there is no certainty about paying taxes at all. In fact, in the United States, evading taxes has become as simple as creating a shell company in Bermuda.
THIS IS THE SWAMP. The Treasury is using obscure regulations to FURTHER cut taxes for some of the biggest corporations on the planet.
The biggest change to the tax code in three decades, the law slashed taxes for big companies... Corporate executives, major investors and the wealthiest Americans hailed the tax cuts as a once-in-a-generation boon not only to their own fortunes but also to the United States economy.
After two years, it’s clearer than ever that the GOP Tax Scam was a massive handout to the wealthiest few and largest corporations.
Trump and Republicans only "expanded" the child tax credit for wealthy families. They left out 26 million children whose parents work hard but whose companies don’t pay them enough.
The 2017 tax bill, Trump’s main domestic achievement, doubled the maximum credit in the two-decade-old program and extended it to families earning as much as $400,000 a year (up from $110,000). The credit now costs the federal government $127 billion a year — far more than better-known programs like the earned-income tax credit ($65 billion) and food stamps ($60 billion).
Republicans are liars and unfortunately they're good at it. That and millions of people are stupid enough to buy their BS.
Not too many policy moves less popular than this one!
Treasury Department officials are considering rolling back a tax rule aimed at preventing American companies from moving money offshore to avoid U.S. taxes.
The Treasury is looking at regulations intended to prevent American firms from lowering their U.S. tax bills by shifting income to their offshore branches.... The department is also contemplating repealing them entirely to replace them with something more business-friendly.
The gap between the richest and the poorest U.S. households is now the largest it's been in the past 50 years.
This is caused by policies put into place by Republican legislatures at the state and federal levels. They pass tax policies that favor businesses and higher-income families.
Truth is stranger than fiction. It's hard to believe this is real.