GOP Thanks Billionaires for Passage of #GOPTaxScam
The Koch brothers certainly benefit quite a bit from the GOP tax scam. Large corporations are focusing on buybacks and benefiting themselves, not on long term gains to create jobs and boost wages for American workers.
- According to a Reuters poll released today, ONLY 2 percent of U.S. adults said they had gotten a raise, bonus or other additional benefits from the GOP tax scam.
- Moody's Investors Service (former employer of Trump Economic Advisor Gary Cohn) said, ‘We do not expect a meaningful boost to business investment because U.S. nonfinancial companies will likely prioritize share buybacks, M&A and paying down existing debt … Much of the tax cut for individuals will go to high earners, who are less likely to spend it on current consumption.'
- Corporations are even laying off thousands of workers as they pocket massive tax breaks for themselves, including Wal-Mart, Pfizer and AT&T.
So the GOP is spending millions trying to convince the American people that the GOP tax scam isn't a disaster.
Washington Post: Republicans passed their tax bill. Now they're spending $10 million to promote it.
The American Action Network, a nonprofit group with close ties to Republican congressional leaders, is launching a $2 million round of TV ads promoting the tax bill.
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So far, the public is not sold. Several public polls released last month show that pluralities of Americans oppose the GOP tax bill, citing its benefits for corporations and the wealthy. Many Americans, the polls show, believe they will see a tax hike under the bill — not a tax cut.
True to form, Republicans delivered a tax scam that raises taxes on the middle class and mortgages the future of America's children, workers and seniors to hand massive tax breaks to corporations and the wealthiest 1 percent.
Democrats want real, bipartisan tax reform that puts the middle class first with A Better Deal: Better Jobs, Better Wages, Better Future.