On the recordDecember 19, 2017
It has come to this: Republicans are poised to pass the largest transfer of wealth in our Nation's history, financed by mortgaging our children's future with a mountain of increased debt. What is wrong with this picture? Well, first of all, nobody really knows everything that is in this bill. It has been written over the last few days to satisfy donors and win the final few votes necessary for Senate passage. It is not tax reform. It is not even a policy, but a collection of special interest provisions being sold on a false set of promises. It is, decidedly, not middle class tax relief. It is permanent, massive tax reductions for the largest corporations and wealthy individuals. Every independent expert agrees and the American public understand that the benefits of this bill flow not primarily to the middle class, but to people like Donald Trump. The vast majority of Americans get little and temporary tax reduction, only to see the bottom 80 percent of our taxpayers, on average, actually facing a tax increase when the bill is fully phased in. The permanent, massive tax reduction for the privileged few comes at a very high cost for the rest of America. Despite false promises, it will not remotely pay for itself through economic growth.…





