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maura quint @behindyourback
, 13 tweets, 4 min read Read on Twitter
Why, I would be happy to explain how the GOP tax bill did not, in fact, "benefit everyone," and did take from the American people! Thank you so much for asking! To the thread-mobile!
To start, the tax bill DISPROPORTIONATELY, OVERWHELMINGLY benefitted the super-wealthiest--83% of the tax cuts went to the 1%. The top .1% (POINT 1%) received an average cut of $148,260. This is a bill that was sold as predominately helping the middle class, what did you get?
In fact, more than half of all Americans will not only NOT see ANY tax cut, they will ultimately see their taxes increase! [via Tax Policy Center, btw: taxpolicycenter.org/model-estimate…]
These cuts disproportionately hurt communities of color, by the way, check out ITEP and Progress Now's well titled "Race, Wealth and Taxes: How the Tax Cuts and Jobs Act Supercharges the Racial Wealth Divide" prosperitynow.org/resources/race…
Ok but let's switch to how these cuts are taking from the American people. Lots of ways! To start, the tax bill included the repeal of the ACA's individual mandate which means healthcare premiums are going up....
So with the tax bill driving higher premiums, even the middle and working-class Americans who saw a small tax cut are now often having to spend that "saved" money directly into higher healthcare costs!
Oh, and giving millionaires and corporations huge cuts added 1.9 trillion to the deficit. Of course, the line the GOP then hits is "oh no, we need to balance the budget! Guess we'll have to make cuts to 'entitlements'" ("entitlements" mean medicare, medicaid & social security)
Yeah, that's right, the GOP tax bill gave corrupt wealthy politicians like Rep. Vern Buchanan so much money, he went right out and bought a new yacht on the same day he voted for the bill! And now to pay for it they want to cut the services middle & working-class Americans need.
The tax bill was also sold to us as a bill that would generate pay increases! It did! For CEOs at least. For you and I and most of the country? Not so much [see Center for American Progress graphic below]
This thread is already long, and this is Twitter so who has the time, but anyone who's looking for more information should follow @taxmarch for reports and fact, my favorite tax wonk @MichaelSLinden, and @iteptweets, @amprog and many more I haven't had enough coffee to recall yet
Oh, and by the way, the GOP didn't just pass one tax bill to rig the economy in favor of the wealthy, a few weeks ago, Congress voted to do it again! Tax 2.0 passed the House and now, among other things, we're fighting to keep it from going to the Senate.
There is no reason we should keep allowing the wealthiest to hijack our country and exponentially rigging the system in their favor. There are a lot more of us than there are of them. We can still change this. We all need to fight, call, demand and VOTE
*people who followed me because they saw me making a lot of silly jokes and puns on days like today*
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