X
 
 
 
 
 
 
 Home Page   My Sky Valley   Advertising   Contact Us   Privacy Policy   About Us   Terms of Use 
Register Here
Welcome

Log In
http://skyvalleychronicle.com/999/news/downloadfile-102.pdf
http://benjarongmonroe.com/menu/

Fri, November 17, 2017

"The #1 Read & Rated Sky Valley News Source
& Only Daily Paper in the Sky Valley!"



RSS Feeds
Everett, WATemp: 57°FSky: overcastForecast...
SECTIONS
BREAKING NEWS
FEATURE NEWS
SNOHOMISH
MONROE
SULTAN
STARTUP
BARING
GOLD BAR
INDEX
SKYKOMISH
STEVENS PASS
GENERAL
VALLEY NEWS
OPINION &
EDITORIAL
VIDEOS
LEGAL NOTICES
CLASSIFIEDS
AUCTIONS
http://www.skyvalleychronicle.com/?template=advertising_rates

--

FEATURE NEWS

A "tax reform" plan from a Republican controlled congress and a
billionaire President?
Think biggest wealth grab in history by the wealthy, for the wealthy

September 11, 2017




Tax reform be berry berry good for the rich! It's good to be King

By Josh Hoxie

(WASHINGTON, D.C.)  --  Soon you’re going to hear about taxes.

You’ll see images of families flashing across your TV screen while a soothing narrator assures you that the tax plan being debated in Washington really is good for you. The newspapers you read, the social media apps you scroll through, the websites you frequent, and the snippets of radio you catch will all feature ads talking about it.

That’s what a marketing blitz looks like, and there’s one coming for the Trump tax plan. It will be well-produced, well-orchestrated, and completely devoid of facts.

President Trump started his sales pitch for his tax cutting agenda in Missouri in August, where the assembled audience was treated to a fact-free sermon on the virtues of his plan. Gone were any specifics of what’s in it, or who gets what.

Looking at Trump’s tax plan from the campaign, as well as what the Republican majority in the House of Representatives have proposed, we can see the basic outlines of what’s coming.

Corporations will see their nominal tax rates drop from 35 percent to 20 or even 15 percent. Individual rates will go down — possibly for everyone, but definitely and most strikingly for the very wealthy. Overall tax revenue will tank, potentially by as much as $10 trillion over ten years.

What does all this look like in the real world?

On the corporate side, we know for sure that lower corporate taxes do not create jobs.

In the ads to come, maybe you’ll see a guy in a hard hat claim that corporate tax cuts will put him back to work. He’s lying.

A recent Institute for Policy Studies report looks at 92 profitable companies that already pay an effective 20 percent tax rate, thanks to loopholes. On average they’ve cut jobs, even as the rest of the private sector saw a 6 percent jobs increase.

On the individual side, half of the proposed cuts will go to millionaires, according to the Institute on Taxation and Economic Policy. Less than 5 percent go to families with household incomes below $45,000.

This is probably the biggest wealth grab in American history by the wealthy, for the wealthy. Selling it as a middle-class tax cut, regardless of the images in the ads you see, is just old-fashioned lying.

And finally there’s the revenue. Trump claims his tax cuts will pay for themselves with increased economic growth. That theory’s been debunked many times over and yet remains stubbornly in play.

So what happens when trillions of dollars of tax revenue get slashed?

Congress currently bans itself from passing bills that increase the deficit in one of their better acronyms — Pay As You Go (PAYGO). That means the tax cuts Trump proposes will have to come out of public programs.

No matter how much hype you hear, you’d better believe those cuts are gonna hurt. From food assistance like the Women, Infant, and Children (WIC) program to Head Start, and from clean water protections to unemployment insurance — it’s all on the line.

It’s hard to keep an eye on the truth when savvy marketing campaigns are hell-bent on deflecting your attention away from it. Don’t buy it. The Trump tax cut plan is disastrous for working families and for anyone who cares about a fair and just economy.

 
______________________________

  

Josh Hoxie directs the Project on Taxation and Opportunity at the Institute for Policy Studies. This report first appeared at OtherWords.org and is reprinted here with permission





BACK TO

HOME

http://murphyauction.com/
http://www.skyvalleychronicle.com/DONATE/DONATE-TO-THE-SKY-VALLEY-CHRONICLE-214446
More Headlines

FEATURE NEWS
Why Is This Very Rich Guy Holding A Sheet Of Money And Smiling?
The New Book That Offers New Information On The Trump-Russia Connection Story
Top Republican New York fund-raiser quits over GOP Tax Reform bill
Calls it a disgrace
Northwest Winter Weather
Means Power Outages
When the next storm hits don't make this mistake or your house may burn down
Tax Cuts for the Rich Are Threatening Americaís Sacred Places

    More->

http://skyvalleychronicle.com/




© 2008-2017 Sky Valley Media Group, LLC
www.skyvalleychronicle.com is owned and produced by
Sky Valley Media Group, LLC which is solely responsible for its content