Let's End the Republican Culture of Corruption. Vote Democratic and Throw the Old White Men OUT. Save Social Security, Medicare and The Environment.

http://prospect.org/article/how-tax-act-embodies-republican-culture-corruption

How the Tax Act Embodies the Republican Culture of Corruption.


The Tax Act is a Christmas tree of special-interest tax breaks. The only thing more corrupt than the substance was the way it was enacted. The Trump era has been defined by corruption: secret hush money payoffs, financial entanglements with foreign governments, constant grifting, and abuse of power to reward allies and punish enemies. And the most significant legislation that President Trump has signed into law—the 2017 Tax Act—is best understood as another product of Washington’s culture of corruption under Republican control.
The law showered massive new tax cuts on the wealthy and corporations at a time of rising inequality, record after-tax corporate profits, unmet domestic needs, and rising deficits. These tax cuts were deeply unpopular with the American people, but demanded by the Republican Party’s political donors. Given the basic mismatch between what the American people wanted on taxes and what Republicans were delivering, congressional leaders made two strategic decisions to force their bill through Congress: They fundamentally misrepresented its contents, and they sought to move it through Congress as fast as possible with minimal public scrutiny—creating a process accessible only to well-funded lobbies. The result was a massive windfall for corporate America and the wealthy, one that preserved some of the most egregious tax loopholes while carving out new ones, at the long-term expense of working Americans.


Popular Posts

Popular Posts