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The GOP Is Proposing a 250 Percent Tax Hike on Millions of Americans
By David Cay Johnson / DC Report November 2, 2017, 1:28 PM GMT
The GOP just declared war on the strivers who start their own businesses.
The GOP Is Proposing a 250 Percent Tax Hike on Millions of Americans
Good god! Trump lied to you about going after the big cheating big business and supporting small businesses. This is all you need to know.
By David Cay Johnson / DC Report November 2, 2017, 1:28 PM GMT
The GOP just declared war on the strivers who start their own businesses.
Or to put it another way: The nice young couple who just opened their own independent coffee shop around the corner will likely be hit with a huge tax increase—as much as 250%—while the corporation that operates thousands of coffee shops all around the world is getting its taxes cut 43%.
The complicated new bill (remember when the GOP promised tax simplicity?) also lavishes federal tax favors on rich individuals and on those who live in low tax states.
No wonder the GOP developed the nearly 500-page tax bill in secret. Had the public’s business been conducted in public, this bill simply would not exist. But it may become law because, if there is anything we know about Washington in the age of Trump, it is that our elected leaders don’t listen to us, they listen to the political donor class, and in Trump’s case, to those advisers he says reside in his head.
The GOP Is Proposing a 250 Percent Tax Hike on Millions of Americans
Good god! Trump lied to you about going after the big cheating big business and supporting small businesses. This is all you need to know.