Month: December 2017

What the GOP is Really Thinking

Posted on by Alex Welch

It’s become increasingly clear who GOP leaders are drafting legislation for as they hurriedly rush to re-write the tax code before the new year.

New York Rep Chris Collins said on Nov. 7, 2017, “My donors are basically saying, ‘Get it done or don’t ever call me again.'”

Donald Trump told members of the elite 21 Club in Manhattan on Nov. 15, 2016, “We’ll get your taxes down, don’t worry about it.”

And Gary Cohn, the White House economic advisor said on Nov. 9, 2017, “The most excited group out there are the big CEO’s about our tax plan.”

But even more damning are the comments made by senior lawmakers who showed their disdain for those the plan hurts the most. Senator Orrin Hatch, speaking about health care for children said,

“I have a rough time spending billions and billions and trillions of dollars to help people who won’t help themselves, won’t lift a finger and expect the federal government to do everything.”

Finally, Iowa Senator Chuck Grassley justified the bills clear preference for the wealthiest 1% by arguing that they are the ones actually investing, unlike those who, “are just spending every darn penny they have, whether it’s on booze or women or movies.”

Thankfully, the public isn’t buying what they’re selling. By a margin of two to one, Americans opposes the GOP tax plan. Now these lawmakers need to realize they are accountable to the voters, and not those writing the checks.

 

The wealthy don’t need more breaks.

Posted on by Alex Welch

A new report shows that the richest 1% now own 40% of this country’s wealth. That’s an astounding figure. The wealth gap has been widening for decades and it has now hit an all-time high.

In this Washington Post article, the author compares the wealth distribution that most Americans would choose, compared to the reality. The contrast is striking. When surveyed, Americans said they would be comfortable with the wealthiest 20% getting nearly one-third of the wealth. In reality, that group of wealthy Americans holds 90% of the wealth.

True tax reform would address this underlying problem, not make it worse. The GOP leaders rushing to pass the current tax bill are unfortunately doing the latter. This tax bill represents the greatest redistribution of wealth to the already wealthy in history. If passed, it will make the wealth gap much worse. And working families are the ones that will suffer.