| Dear Katy, "Tax cut savings flow to company stockholders, trickle to hourly workers," USA Today recently reported.1 Another recent headline, in Newsweek, blares: "Trump tax plan: 80 percent of economic gains will end up going to foreigners, CBO says."2 The ugly truth about the immoral Trump Tax Scam is becoming well-known, just in time for today, April 17, 2018, this year's Tax Day. Our job now is to make it clear just how toxic Trump and his Tax Scam truly are – and demand that every Democratic official and candidate commits to repealing the Trump Tax Scam. Tell Democrats: Fight to repeal the Trump Tax Scam. Click here to sign the petition. The Tax Scam is not just a heartless giveaway to the rich and powerful. Americans have discovered that the Trump Tax Scam is riddled with errors. It gives unintended tax breaks to hedge fund managers, contradicts itself in places and contains the so-called "grain glitch" that could hurt agricultural companies by exempting competitors from taxes.3,4 In this environment, it's more important than ever that Democrats hold the line. Corporate Democrats will be tempted to preserve parts of the bill to appease donors, others will try to help bail out Republicans with fixes, and before long, no one will be able to tell the difference between the party of Trump tax handouts for billionaires and the muddled opposition. There is no good reason for Democrats to preserve any part of this Tax Scam. It is: - Heartless health care robbery. According to the nonpartisan Congressional Budget Office, the Trump Tax Scam could wipe away health care coverage for 13 million people with its sabotage of the Affordable Care Act protections keeping healthy people in insurance markets.5
- Horrifyingly unjust. The Trump Tax Scam will pour gasoline on the already-raging fire of inequality in America. International corporations get a massive tax handout despite sitting on billions in offshore profits while Americans lose health care coverage. Poor and middle-income Americans will get pocket change while the super-rich pocket big money.6
- An excuse for more cruel cuts. Even before handing trillions to the ultra-wealthy, Trump and the Trump Republicans in Congress began to insist that we must cut the earned benefits that tens of millions of people rely upon. Their phony deficit hysteria is a deliberate ploy to make Americans more dependent on Wall Street and corporate employers by destroying our earned benefits.7
- Deeply unpopular. Only 33 percent of Americans support the Trump Tax Scam even with a major Republican publicity push. If progressives lead the charge to point out the way the bill benefits international corporations at the expense of our communities, those numbers will only get worse.8
Democrats will fail if they become the party of tweaking the Trump Tax Scam. They must draw a clear dividing line by promising to repeal the Trump Tax Scam in its entirety in the next Congress. Tell Democrats: Fight to repeal the Trump Tax Scam. Click here to sign the petition. The main beneficiaries of the Trump Tax Scam are Donald Trump himself and the super-wealthy donors who fund Republican political campaigns. The bad news for Republicans is that the American people know a scam when they see one. Americans will not forget this cruel robbery of the poor and middle class to give massive tax breaks to big corporations and Republican donors. But it's up to us to make sure Democrats seize the opportunity. CREDO members waged a major campaign, making tens of thousands of phone calls in an effort to stop the Trump Tax Scam. Now, we need the same energy pushing Democrats to commit to fight to repeal it as soon as possible. Tell Democrats: Fight to repeal the Trump Tax Scam. Click below to sign the petition: https://act.credoaction.com/sign/taxday_taxscam?t=8&akid=28164%2E12967895%2ElWtTmc Thank you for speaking out, Josh Nelson, Co-Director
CREDO Action from Working Assets Add your name: References: - Adam Shell, "Tax cut savings flow to company stockholders, trickle to hourly workers," USA Today, April 13, 2018.
- Nicole Goodkind, "Trump tax plan: 80 percent of economic gains will end up going to foreigners, CBO says," Newsweek, April 12, 2018.
- Erica Werner, "Democrats balk as Republicans try to use must-pass spending bill to fix tax law," The Washington Post, March 16, 2018.
- David Dayen, "The Botched Tax Bill and Democrats' Good-Government Dilemma," The New Republic, Feb. 27, 2018.
- David Lazarus, "GOP tax bill also manages to needlessly screw up the healthcare system," Los Angeles Times, Dec. 19, 2017.
- David Choi, "'Irresponsible, reckless, unjust, and just plain cruel': Democrats blast GOP tax bill after it passes," Business Insider, Dec. 20, 2017.
- Tara Golshan, "Top Republicans are already talking about cutting Medicare and Social Security next," Vox, Dec. 18, 2017.
- Kenneth Walsh, "Bad Tidings for Trump," U.S. News & World Report, Dec. 29, 2017.
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