Skip to main content

Why are the billionaires always laughing?

Because they know the corporate media will never call bullshit on their bullshit.

Why are the billionaires laughing?

It’s easy to laugh when the corporate press treats you as a glorious success instead of the epitome of a broken social order. Billionaires laugh because they know the corporate media prefers to fawn over them rather than hold them to account.

Today, we ask you to support our nonprofit, independent journalism because we are not impressed by billionaires flying into space, their corporations despoiling our health and planet, or their vast fortunes safely concealed in tax havens across the globe. We are not laughing.

We are hard at work producing journalism for the common good. With our Fall Campaign underway, please support this mission today. We cannot do it without you.

Support Our Work -- Join the small group of generous readers who donate, keeping Common Dreams free for millions of people each year. Every donation—large or small—helps us bring you the news that matters.

Senate Majority Leader Mitch McConnell (R-Ky.) talks to reporters following the weekly Republican policy luncheon in the U.S. Capitol November 7, 2017 in Washington, D.C. (Photo: Chip Somodevilla/Getty Images)

'There You Have It': McConnell Says He 'Misspoke' When He Promised No Tax Hike on Middle Class

A New York Times analysis published Friday found that millions of middle class families would see their taxes rise under GOP plan

Jake Johnson

Following the release of a slew of analyses showing that the GOP tax plan would raise taxes on many middle class families—despite repeated promises to the contrary by the Trump administration and Republican lawmakers—Senate Majority Leader Mitch McConnell (R-Ky.) conceded in an interview with the New York Times Friday that he "misspoke" when he declared last week that "nobody in the middle class is going to get a tax increase."

"'I misspoke' is the thing you say when you can't get away with lying anymore."
—Judd Legum, ThinkProgress

"I misspoke on that," McConnell told Times reporter Sheryl Gay Stolberg‏. "You can't guarantee that absolutely no one sees a tax increase, but what we are doing is targeting levels of income and looking at the average in those levels and the average will be tax relief for the average taxpayer in each of those segments."

McConnell's reversal on a talking point that has become a mainstay for Republicans over the last several months as they attempt to sell their tax proposals to a skeptical public comes just 24 hours after the Senate unveiled its own tax plan. Like the House version, the Senate bill calls for massive tax cuts for wealthy Americans and large corporations.

A Times analysis published Friday found that while middle class Americans would fare better under the Senate's plan than the House's, "both bills would disproportionately benefit high earners and corporations and raise taxes on millions of middle class families."

The analysis continued:

The Senate bill appears much better for the very wealthy than it is for the somewhat wealthy. About half of families earning between two and three times the median income—or about $160,000 to $240,000 for a family of three—would pay more in 2018 than under existing law. But among the richest families, those earning more than about $500,000 for a family of three, nearly 90 percent would get a tax cut.

McConnell's insistence that he "misspoke" in confidently declaring that no one in the middle class would see their taxes rise under the GOP plan was immediately seized upon by critics who have long seen through Republicans' characterization of their bill as pro-middle class.

"'I misspoke' is the thing you say when you can't get away with lying anymore," wrote Judd Legum of ThinkProgress.


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Don't Exist.

New York Taxi Workers Stage Hunger Strike to Demand Medallion Debt Relief

"They are an essential industry here in New York City," said Rep. Alexandria Ocasio-Cortez, "and we need to make sure we're doing right by them."

Julia Conley ·


'It's Not Coming Out': Bernie Sanders Stands Firm on Medicare Expansion

"It's what the American people want and, after waiting over 50 years, what they are going to get."

Julia Conley ·


'When We Organize, We Win': Ocasio-Cortez Joins India Walton at Rally in Buffalo

The two progressives joined striking hospital workers on the picket line at Mercy Hospital after the early voting rally.

Julia Conley ·


Fatal Film Set Shooting Followed Outcry by Union Crew Members Over Safety Protocols

"When union members walk off a set about safety concerns, maybe 'hiring scabs' isn’t the solution you think it is."

Julia Conley ·


New Whistleblower Sparks Calls to 'Crack Down on Facebook and All Big Tech Companies'

Hours after another ex-employee filed a formal complaint, reporting broke on internal documents that show the tech giant's failure to address concerns about content related to the 2020 U.S. election.

Jessica Corbett ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo