Republicans Concealed a Repulsive Scam In Their Tax Plan To Rip Off The Middle Class
House Republicans unveiled their plan to overhaul the tax code on Thursday in what could be the biggest rewriting of the system in decades, and also the biggest scam ever perpetrated on the American people.
For President Donald Trump, who has repeatedly pledged to slash taxes, passing the Tax Cuts would give him his first major legislative win of his administration.
But the tax plan that he and his Republican allies in Congress are trying to sell as great for the middle-class is a fraud.
While the tax cuts for the very wealthy and largest corporations are permanent, the middle-class tax cuts expire after five years.
Under the plan, President Trump and his family get a permanent tax cut that extends to even beyond death due to the repeal of the Estate Tax, but middle-class family gets a sham tax cut that actually raises their taxes after five years, and their money gets transferred to the super-rich individuals and large corporations.
For years, Republicans are selling the idea that once the wealthy and corporations have all the wealth in the country, the money would trickle down to everyone else. Of course, that concept has been proven wrong many times.
The people and corporations at the top don’t use the money to expand the economy. They put the cash in their back pockets and move on.
Typically, a 60 vote supermajority is needed to end debate and move a bill to a vote. However, last week, the House narrowly approved a Senate version of the 2018 federal budget, clearing the path for the Republican-controlled Senate to pass its tax cuts plan using a reconciliation process, with a simple majority.
Here is how the Republican plan would impact a middle-class family:
I recommend reading your tax plan. Those tax cuts expire after 5 years, raising taxes on that same family. pic.twitter.com/Zybfxfnsw8
— Jeremy Slevin (@jeremyslevin) November 3, 2017
In short, the Republican tax cut plan appears to be a scam designed to redistribute resources from the middle and bottom up to the very top.