Meidas Touch - The GOP Tax Scam -- And How We Fight Back
This week, the Senate is trying to pass Republicans’ Billionaire Tax Scam – a bill that would gut health care and food assistance for millions of Americans in order to fund massive tax breaks for the rich.
I’ve worked extensively in economic policy, including at the White House Office of Management and Budget and at the Senate Budget Committee. I’ve seen a lot of budget proposals in my time, but never have I seen one as fundamentally and inarguably unfair as this one.
Here’s what you need to know: Republicans’ Billionaire Tax Scam would kick 16 million people off their health insurance, take food assistance away from millions of Americans – including up to 18 million poor children – and raise costs for nearly 80 million low- and middle-income households in the form of higher prices on everything from health care to energy bills to college tuition. At the same time, the Scam would deliver another round of massive tax breaks to the richest households in the country. Very simply, the Tax Scam takes from the poor and the middle and gives to the rich.
But you don’t need to take it from me. The non-partisan Congressional Budget Office has confirmed how skewed this bill is to the wealthy. Over 80 percent of the benefits in this bill go to the richest 5 percent. Costs for the bottom 10 percent of Americans will go up by $1,600, while the richest 10 percent get a $12,000 handout. All of that adds up to trillions of dollars being taken from programs that help everyday families to give more money to the ultra-wealthy and large corporations.
https://www.meidasplus.com/p/the-gop-tax-scam-and-how-we-fight ail