George Miller: “As the press now starts to report and to analyze the Republican tax cut legislation, the reviews are coming in from…”

“As the press now starts to report and to analyze the Republican tax cut legislation, the reviews are coming in from across the country and from independent journalists. What we now see is a recognition that what the Republican bill does is provide for a forced feeding of tax cuts to the wealthiest people in this country. As Time magazine's journalist Jonathan Alter noted, the Republican bill showers millions of dollars on the richest 1 percent of Americans. As the Wall Street Journal noted, it allows the IRA provisions to create opportunities primarily for upper income Americans to shift large chunks of their assets into tax-free accounts, where they would be beyond the reach of Uncle Sam forever. The Washington Post notes that the Republican tax bill is heavily tilted toward the better off, and the Democrats are right for calling the Republicans on this. They go on to note that the plain facts are that the bill would not only benefit the better off but would cost the Government revenues it cannot afford. Yesterday, the Post quoted a number of economists supporting different political parties which reached agreement that the Republicans are relying on numbers that mask the extent of the size of the Republican tax proposals favoring high-income households which would mushroom over the years to come.”