A progressive think tank was joined by hundreds of supporters Thursday in a Twitter campaign demanding that corporations pay a fair tax rate.
A day after President Donald Trump touted his "scam" tax proposal, the Institute for Policy Studies' #PayUpCorps campaign highlighted needs in infrastructure, healthcare, and other sectors that could be paid for with all the money corporations stand to save under the Koch brothers'-backed tax plan.
Trump and Republican leaders in Congress hope to cut the corporate tax rate from an already low 35 percent to 20 percent—though the Institute on Tax and Economic Policy has found that many Fortune 500 companies effectively already pay only about 20 percent of their profits in taxes, and contrary to Republican promises, the savings don't lead to job creation.
Supporters of #PayUpCorps, including Sen. Bernie Sanders (I-Vt.), shared their thoughts on how that money could be better spent, and debunked Trump's claim that corporate tax cuts will create jobs.
We could have free higher ed, universal healthcare, & decent infrastructure... or we could keep giving corporations tax breaks. #PayUpCorps— Aniqa Raihan (@niqray) August 31, 2017
Trump claimed corps will use tax cuts to create jobs. Tillerson did the opposite at Exxon #PayUpCorps— Michael Feinberg (@MikeSFeinberg) August 31, 2017
My mom’s medications could be free, instead the CEO at AT&T is getting a bonus #PayUpCorps— PoMoRed (@PoMoRed) August 31, 2017
GOP wants to cut $72B for disabilities, but Apple owes $75B in taxes? #PayUpCorps— Michael Childers (@herrchili) August 31, 2017
Lower corporate taxes mean higher corporate profits, not higher wages. History is very clear on that. #payUpCorps— Rob Rosenthal (@rrosenthal27) August 31, 2017
Cutting taxes on huge corporations doesn’t create jobs. It makes CEOs richer and puts a bigger burden on the middle class. #PayUpCorps— Bernie Sanders (@SenSanders) August 31, 2017
We can subsidize the pay of rich CEOs, but not our crumbling bridges? You need to #PayUpCorps— Vanessa Warheit (@vwarheit) August 31, 2017