Aug 31, 2017
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.
Trump claimed corps will use tax cuts to create jobs. Tillerson did the opposite at Exxon #PayUpCorps
-- Michael Feinberg (@MikeSFeinberg) August 31, 2017
\u201cGOP wants to cut $72B for disabilities, but Apple owes $75B in taxes? #PayUpCorps\u201d— Michael Childers (@Michael Childers) 1504204678
\u201cLower corporate taxes mean higher corporate profits, not higher wages. History is very clear on that. #payUpCorps\u201d— Rob Rosenthal (@Rob Rosenthal) 1504204674
\u201cCutting taxes on huge corporations doesn\u2019t create jobs. It makes CEOs richer and puts a bigger burden on the middle class. #PayUpCorps\u201d— Bernie Sanders (@Bernie Sanders) 1504203635
\u201cWe can subsidize the pay of rich CEOs, but not our crumbling bridges? You need to #PayUpCorps\u201d— Vanessa Warheit (@Vanessa Warheit) 1504203960
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