06 Nov Stop GOP Giveaways to the Rich
Our thoughts and prayers are with the people of Sutherland Springs, Texas, this morning as yet another American community is reeling from the horror of gun violence. We salute the first responders who heroically attended to the victims of this latest mass shooting and call on our nation to unite around solutions to stop the carnage.
Message of the Day – Stop GOP Giveaways to the Rich
The new GOP tax bill would explode the federal budget deficit by more than $1.5 trillion by slashing taxes for the rich and powerful, wealthy corporations and foreign investors—leaving working families to pay the tab.
Working families would end up paying more taxes as the GOP seeks to end deductions for housing, state and local taxes, medical expenses and educational costs.
Meanwhile, about one-third of the benefits of this tax plan—approximately $70 billion a year—would go directly to foreign investors who own shares in American companies, says an analysis by Steven Rosenthal at the Urban-Brookings Tax Policy Center.
The AFL-CIO demands a tax code that works for working families while providing the resources necessary for America’s workers and businesses to compete and succeed on the world stage.
Kitchen Table Economics
None at all: That’s the benefit to our economy, job growth or wage benefits from cutting taxes on powerful corporations and the rich.
Source: The Labor Wire, AFL-CIO