Republican Tax Plan a Con Game Against Working People

AFL-CIO ^ | September 28, 2017 | AFL-CIO President Richard Trumka

[mdittmar]

Yesterday, President Donald Trump and Republican leaders in Congress released their new tax plan. AFL-CIO President Richard Trumka responded to the proposal:

The tax plan Republicans put out [yesterday] is nothing but a con game, and working people are the ones they’re trying to con. Here we go again. First comes the promise that tax giveaways for the wealthy and big corporations will trickle down to the rest of us. Then comes the promise that tax cuts will pay for themselves. Then comes the promise that they want to stop offshoring. And finally, we find out none of these things is true, and the people responsible for wasting trillions of dollars on tax giveaways to the rich tell us we have no choice but to cut Medicaid, Medicare, Social Security, education and infrastructure. There always seems to be plenty of money for millionaires and big corporations but never enough money to do anything for working people.

Here are some of the terrible proposals included in yesterday’s plan:

• Allowing multinational corporations to pay little to nothing on their offshore profits, which would be a giant tax break for sending jobs overseas and a giant loophole for corporations to avoid paying taxes.
• Eliminating the estate tax, which would benefit only the wealthiest 0.2% of estates, those worth more than $5.5 million.
• Eliminating the alternative minimum tax, which helps keep the wealthy from exploiting loopholes to avoid paying taxes.
• Reducing the top individual tax rate from 39.6% to 35%, which would mainly benefit the rich.
• Reducing the top individual tax rate for business owners from 39.6% to 25%, which would mainly benefit Wall Street hedge fund managers, real estate developers and law firms.
• Reducing the corporate tax rate from 35% to 20%, which would overwhelmingly benefit the rich.
• Increasing the bottom tax bracket from 10% to 12%.
• Eliminating the tax deduction for state and local taxes, which would punish states that make the kind of investments that boost economic growth for the whole country.

We already know that Trump and Republican leaders in Congress want working people to pay the price for these tax giveaways to big corporations and the wealthy. We know this because the budgets they have proposed for the coming year include trillions of dollars in cuts to Medicaid, Medicare, Social Security, education, infrastructure and other programs benefiting working people.

This is what a tax plan that actually works for working people looks like. It has three overarching principles. First, Wall Street, big corporations and the wealthy must pay their fair share of taxes. Second, tax reform must raise enough additional revenue now and in the future to create good jobs and make the public investment we need in infrastructure, education, and meeting the needs of children, families, seniors and our communities. Third, tax reform must eliminate all tax incentives for corporations to shift jobs and profits offshore.

Unfortunately, the tax plan unveiled yesterday goes in the exact opposite direction. It does not even qualify as "tax reform." It’s just tax cuts for rich people.

[mdittmar]

Well,seems Dick doesn't like it.

Here's an old song I like;)

Smokey Robinson - Cruisin (1979)

[MeganC]

If the American Federation of Liberal and Communist Insurgency Organizations hates it then it must be great!!

[DoughtyOne]

We already know that Trump and Republican leaders in Congress want working people to pay the price for these tax giveaways to big corporations and the wealthy.

We know this because the budgets they have proposed for the coming year include trillions of dollars in cuts to Medicaid, Medicare, Social Security, education, infrastructure and other programs benefiting working people.

Nobody lies easier than a union leader.

[Darteaus94025]

Since when does the AFL-CIO know anything about the needs of working people?

[rrrod]

Proof it’s a great plan!

[cgbg]

I have no problem giving businesses tax breaks and lower taxes _if they actually produce something_.

FIRE (financial, insurance, real estate) profits are not productive for the economy and in my view should be taxed higher than manufacturing businesses, imho.

[HANG THE EXPENSE]

Its got to be the best if little dickie doesnt like it.

[DoughtyOne]

Bingo.

Most of us are aware of some problems with what has been proposed. Those problems aren’t addressed by Trumka.

Trump’s motto, MAGA

Trumka’s motto, MASA

SUCK like it did under Obama

[FlingWingFlyer]

Little Dick, the guy who “rammed” Obamacare down our throats speaks! With forked tongue of course. Lying little union b*tch.

[vpintheak]

Trumpka is a tool who has gotten wealthy off the union dues of too many workers.

[Fiddlstix]

AFL-CIO Runs The Con Game Against Working Americans!

[gibsonguy]

If this bastard is against it I am for it.

[2ndDivisionVet]

AFSCME* if I care.

.

.

*Name of the union I used to belong to.

[DAC21]

The red diapered doper baby speaks.

[mdittmar]

AFSCME Pres. Lee Saunders on the Trump Tax Plan

[Uncle Miltie]

The Con Game is that no tax plan will pass.

All Kabuki theater.

[Arthur McGowan]

Trumka makes Stalin look like a Coolidge Republican.

If he’s against it, that’s all I need to know.

(I still think 25% should be the absolute limit on any tax.)

[mdittmar]

You may be correct.

Just bought a 1979 El Camino with 97,000 original miles;)

I'm gonna go crusin.

[Grampa Dave]

Tricky Dicky doesn’t like it.

That means, it is probably good for us!

[TexasGator]

Unless you are a middle class homeowner that presently itemized...