Tag: tax cuts for the 1%

How tax cuts for the wealthy became Republican orthodoxy

The following article by Vanessa Williamson was posted on the Washington Post website December 21, 2017:

Congressional Republicans on Dec. 20 passed a massive tax overhaul, sending the bill to President Trump for him to sign it into law. (Jenny Starrs, Bastien Inzaurralde/The Washington Post)

The Republican Congress has passed a tax plan in which more than four-fifths of the long-term tax cuts are steered to the extremely wealthy, and are offset by future tax increases for a significant fraction of the party’s own voting base. Republicans plan substantial cuts to government services that those voters use and like.

This kind of “reverse Robin Hood” upward distribution has become the unifying goal of the Republican Party. The current GOP’s tax plan is the latest iteration of a decades-long rightward trajectory. Continue reading “How tax cuts for the wealthy became Republican orthodoxy”

Mnuchin dodges on if Trump would benefit from his tax proposal

The following article by Rebecca Savroansky was posted on the Hill website October 1, 2017:

© Keren Carrion

Treasury Secretary Steven Mnuchin on Sunday dodged a question about whether President Trump would get a tax cut under his tax plan.

During an interview on ABC’s “This Week,” Mnuchin was asked whether Trump would benefit from his new tax proposal. Trump has faced the question numerous times since he began to push for the tax code reform, which he claims is not helpful for his own finances. Continue reading “Mnuchin dodges on if Trump would benefit from his tax proposal”