Tax cuts for the wealthy and corporations will weaken our economy for years – reducing demand, widening inequality, and increasing the national debt by at least $1.5 trillion over the next decade. But Trump and Republican continue to repeat the same trickle-down lies. Help spread these truths:
Corporations don't need a tax cut to be more competitive internationally. American corporations now pay an effective rate (after taking deductions and tax credits) that’s just about the same as most foreign based corporations pay.
A strong middle-class spurs economic growth, not tax cuts for the rich. Companies expand and create jobs when there’s more demand for their goods and services. That demand comes from customers who have the money to buy what companies sell -- mostly the middle class and poor, who spend all or most of what they earn, not from the rich, who spend a tiny fraction.
Small businesses won't benefit from the tax cuts because most of them don't earn enough to qualify for a tax cut anyway. The bill focuses mostly on mega-corporations. The tax cuts will give big companies the cash to use predatory tactics to squeeze out their smaller competitors.
Republicans in Congress are set to vote on the bill this week. Most Americans know it's a payback to Republican donors, but apparently Republicans don't care. Your thoughts?
