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President Donald Trump speaks while flanked by Director of the National Economic Council Larry Kudlow during an event in the State Dining Room of the White House on October 31, 2018 in Washington, D.C. (Photo: Mark Wilson/Getty Images)
'GOP Tax Scam 2.0'? Warnings as Trump Reportedly Pushing Another Round of Tax Cuts Ahead of Presidential Election
"Worked out so well the first time—for the super-wealthy. Not so much for the rest of us. Now they're back for more?"
Nov 01, 2019
Sparking warnings that the Republican Party is preparing another massive gift for the rich and corporations, the Washington Post reported Thursday that President Donald Trump is "agitating to announce a new tax cut proposal heading into the 2020 election."
According to the Post, the tax cut discussions are being led by National Economic Council director Larry Kudlow, a "Wall Street cheerleader" and fervent believer in the discredited idea of trickle-down economics.
"I would expect this would just be another distraction from the fact that he's about to be impeached."
--Rep. Lloyd Doggett
"The early-stage discussions reflect Trump's desire to refocus the economic narrative amid some signs of a slowing economy," the Post reported.
Fight for $15 tweeted in response to the Post's story that "Trump gave away over a trillion dollars in tax cuts to corporations and billionaires and economic growth slowed to a putter."
"But they're hoping to rob as much as they can from the state coffers while they have the chance," the group tweeted, adding the hashtag #GOPTaxScam 2.0.
Rep. Lloyd Doggett (D-Texas), a member of the Ways and Means Committee, warned that the push for a new round of tax cuts could be a ploy to divert attention from the impeachment process, which is rapidly gaining momentum in the House.
"I would expect this would just be another distraction from the fact that he's about to be impeached," Doggett told the Post.
The Trump administration's latest effort to slash taxes comes as evidence continues to show the GOP's 2017 tax law has not delivered on its stated promises, such as a boost in economic growth, pay raises for workers, deficit reduction, or a surge in business investment.
The law did, however, further enrich wealthy executives and large corporations, an outcome analysts and advocacy groups predicted from the outset.
"It was a scam the first time around," said Sen. Chris Van Hollen (D-Md.). "Why would Trump think American workers would want another round of tax cuts for billionaires?"
Critics echoed Van Hollen on Twitter:
As Trump pushes for more tax cuts ahead of the 2020 election, several Democratic presidential candidates are calling for the complete repeal of the GOP tax law to fund progressive priorities.
Sen. Elizabeth Warren's (D-Mass.) climate plan, unveiled in September, would reverse the GOP tax cuts to help finance the transition to 100 percent renewable energy.
Last month, Sen. Bernie Sanders (I-Vt.) released a sweeping proposal to tackle economic inequality in the U.S. and put more power in the hands of workers. The plan, as Common Dreams reported, calls for rolling back "all of the disastrous corporate tax breaks enacted under Trump, closing corporate tax loopholes, and demanding that large corporations pay their fair share of taxes."
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
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Sparking warnings that the Republican Party is preparing another massive gift for the rich and corporations, the Washington Post reported Thursday that President Donald Trump is "agitating to announce a new tax cut proposal heading into the 2020 election."
According to the Post, the tax cut discussions are being led by National Economic Council director Larry Kudlow, a "Wall Street cheerleader" and fervent believer in the discredited idea of trickle-down economics.
"I would expect this would just be another distraction from the fact that he's about to be impeached."
--Rep. Lloyd Doggett
"The early-stage discussions reflect Trump's desire to refocus the economic narrative amid some signs of a slowing economy," the Post reported.
Fight for $15 tweeted in response to the Post's story that "Trump gave away over a trillion dollars in tax cuts to corporations and billionaires and economic growth slowed to a putter."
"But they're hoping to rob as much as they can from the state coffers while they have the chance," the group tweeted, adding the hashtag #GOPTaxScam 2.0.
Rep. Lloyd Doggett (D-Texas), a member of the Ways and Means Committee, warned that the push for a new round of tax cuts could be a ploy to divert attention from the impeachment process, which is rapidly gaining momentum in the House.
"I would expect this would just be another distraction from the fact that he's about to be impeached," Doggett told the Post.
The Trump administration's latest effort to slash taxes comes as evidence continues to show the GOP's 2017 tax law has not delivered on its stated promises, such as a boost in economic growth, pay raises for workers, deficit reduction, or a surge in business investment.
The law did, however, further enrich wealthy executives and large corporations, an outcome analysts and advocacy groups predicted from the outset.
"It was a scam the first time around," said Sen. Chris Van Hollen (D-Md.). "Why would Trump think American workers would want another round of tax cuts for billionaires?"
Critics echoed Van Hollen on Twitter:
As Trump pushes for more tax cuts ahead of the 2020 election, several Democratic presidential candidates are calling for the complete repeal of the GOP tax law to fund progressive priorities.
Sen. Elizabeth Warren's (D-Mass.) climate plan, unveiled in September, would reverse the GOP tax cuts to help finance the transition to 100 percent renewable energy.
Last month, Sen. Bernie Sanders (I-Vt.) released a sweeping proposal to tackle economic inequality in the U.S. and put more power in the hands of workers. The plan, as Common Dreams reported, calls for rolling back "all of the disastrous corporate tax breaks enacted under Trump, closing corporate tax loopholes, and demanding that large corporations pay their fair share of taxes."
Sparking warnings that the Republican Party is preparing another massive gift for the rich and corporations, the Washington Post reported Thursday that President Donald Trump is "agitating to announce a new tax cut proposal heading into the 2020 election."
According to the Post, the tax cut discussions are being led by National Economic Council director Larry Kudlow, a "Wall Street cheerleader" and fervent believer in the discredited idea of trickle-down economics.
"I would expect this would just be another distraction from the fact that he's about to be impeached."
--Rep. Lloyd Doggett
"The early-stage discussions reflect Trump's desire to refocus the economic narrative amid some signs of a slowing economy," the Post reported.
Fight for $15 tweeted in response to the Post's story that "Trump gave away over a trillion dollars in tax cuts to corporations and billionaires and economic growth slowed to a putter."
"But they're hoping to rob as much as they can from the state coffers while they have the chance," the group tweeted, adding the hashtag #GOPTaxScam 2.0.
Rep. Lloyd Doggett (D-Texas), a member of the Ways and Means Committee, warned that the push for a new round of tax cuts could be a ploy to divert attention from the impeachment process, which is rapidly gaining momentum in the House.
"I would expect this would just be another distraction from the fact that he's about to be impeached," Doggett told the Post.
The Trump administration's latest effort to slash taxes comes as evidence continues to show the GOP's 2017 tax law has not delivered on its stated promises, such as a boost in economic growth, pay raises for workers, deficit reduction, or a surge in business investment.
The law did, however, further enrich wealthy executives and large corporations, an outcome analysts and advocacy groups predicted from the outset.
"It was a scam the first time around," said Sen. Chris Van Hollen (D-Md.). "Why would Trump think American workers would want another round of tax cuts for billionaires?"
Critics echoed Van Hollen on Twitter:
As Trump pushes for more tax cuts ahead of the 2020 election, several Democratic presidential candidates are calling for the complete repeal of the GOP tax law to fund progressive priorities.
Sen. Elizabeth Warren's (D-Mass.) climate plan, unveiled in September, would reverse the GOP tax cuts to help finance the transition to 100 percent renewable energy.
Last month, Sen. Bernie Sanders (I-Vt.) released a sweeping proposal to tackle economic inequality in the U.S. and put more power in the hands of workers. The plan, as Common Dreams reported, calls for rolling back "all of the disastrous corporate tax breaks enacted under Trump, closing corporate tax loopholes, and demanding that large corporations pay their fair share of taxes."
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