RED ALERT: The Trump tax bill being rammed through Congress right now is confusing so let me break down what it’ll mean for you. Spoiler: You’ll get stuck with the bill. Follow along for details. 1/
YOUR TAX BILL
47 million households will get a tax hike! Yes, you read that right. In a plan that cuts taxes for corporations and millionaires, millions of middle-class families—especially those with children—get a tax increase. 2/
47 million households will get a tax hike! Yes, you read that right. In a plan that cuts taxes for corporations and millionaires, millions of middle-class families—especially those with children—get a tax increase. 2/
YOUR HEALTHCARE
Health care costs will skyrocket. Families won’t be able to get a deduction for large out-of-pocket medical expenses. The GOP budget includes giant cuts to Medicaid & Medicare. AND they are considering repealing a key part of the ACA as part of the tax bill. 3/
Health care costs will skyrocket. Families won’t be able to get a deduction for large out-of-pocket medical expenses. The GOP budget includes giant cuts to Medicaid & Medicare. AND they are considering repealing a key part of the ACA as part of the tax bill. 3/
YOUR EDUCATION
Students lose help paying off their loans. Teachers can’t deduct the cost of buying classroom supplies. Grad students get taxed on their scholarships. GOP budget includes massive cuts to funding for Head Start, Pell Grants & everything in between. 4/
Students lose help paying off their loans. Teachers can’t deduct the cost of buying classroom supplies. Grad students get taxed on their scholarships. GOP budget includes massive cuts to funding for Head Start, Pell Grants & everything in between. 4/
YOUR SOCIAL SECURITY
They’re coming for it. It’s not a coincidence that George W. Bush waited until just after his tax cuts took effect & the deficit ballooned, to push for cuts to Social Security. Paul Ryan’s even admitted that “entitlement reform” is next. 5/
They’re coming for it. It’s not a coincidence that George W. Bush waited until just after his tax cuts took effect & the deficit ballooned, to push for cuts to Social Security. Paul Ryan’s even admitted that “entitlement reform” is next. 5/
YOUR JOB
Corporations would get a permanently LOWER tax rate on OVERSEAS operations & profits than on U.S. operations & profits, and new giant loopholes would encourage even more offshoring. 6/
Corporations would get a permanently LOWER tax rate on OVERSEAS operations & profits than on U.S. operations & profits, and new giant loopholes would encourage even more offshoring. 6/
YOUR WAGES
Cutting taxes on the super-rich and corporations yet again means they will have even more incentive to hoard as much of the profits as they can, spending less and less to hire new workers or raise worker wages. 7/
Cutting taxes on the super-rich and corporations yet again means they will have even more incentive to hoard as much of the profits as they can, spending less and less to hire new workers or raise worker wages. 7/
YOUR ENVIRONMENT
The plan keeps tax breaks for oil, gas, and coal companies but eliminates or reduces them for solar & wind. The GOP budget slashes funding for EPA. The plan even includes a Polar Payoff allowing drilling in the Arctic refuge. 8/
The plan keeps tax breaks for oil, gas, and coal companies but eliminates or reduces them for solar & wind. The GOP budget slashes funding for EPA. The plan even includes a Polar Payoff allowing drilling in the Arctic refuge. 8/
YOUR COMMUNITY
There will be cuts to firefighters, schools, roads and libraries in your town and state. That’s because the GOP plan eliminates the deduction for local taxes, making it harder to fund these vital services. 9/
There will be cuts to firefighters, schools, roads and libraries in your town and state. That’s because the GOP plan eliminates the deduction for local taxes, making it harder to fund these vital services. 9/
BOTTOM LINE
You will pay more, either through higher taxes or fewer public services (or both). Millionaires and corporations will pay a lot less. The economy and your community will suffer. It will take decades to recover. 10/
You will pay more, either through higher taxes or fewer public services (or both). Millionaires and corporations will pay a lot less. The economy and your community will suffer. It will take decades to recover. 10/
FIGHT BACK
The House is voting on this plan ***THIS WEEK***.
Get involved: notonepenny.org/take-action
Speak up: Call Congress at 888-654-1854
Show up: act.indivisible.org/event/local-ac…
#NotOnePenny
/end
The House is voting on this plan ***THIS WEEK***.
Get involved: notonepenny.org/take-action
Speak up: Call Congress at 888-654-1854
Show up: act.indivisible.org/event/local-ac…
#NotOnePenny
/end
