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GOP wages WAR with tax deform bill
by Lynda Carson (tenantsrule [at] yahoo.com)
Tuesday Nov 28th, 2017 10:49 PM
To call your Member of Congress to say “NO” to the tax deform bills?:
Toll free number for the US Capitol Switchboard 1-866-220-0044
GOP wages WAR with tax deform bill

By Lynda Carson - November 28, 2017

Stop the GOP’s catastrophic tax deform bill to be voted on this week that supports major tax cuts for fortune 500 companies, billionaires, and millionaires, while offsetting the tax cuts by ripping off the poor and middle class!

It is an act of WAR with tax increases on everyone earning less than $75,000 a year. This will do more damage to the average American than the terrorists Isis, or Al Qaeda, could ever do.

If passed, the tax deform proposals will amount to the GOP unplugging occupied baby incubators, life support systems for the chronically ill, elderly and disabled, and will result in displacing millions from their affordable housing projects, while devastating medicare, and social security in the process. There is no end in sight to catastrophe or the evil consequences that will occur to the American public if the corporate controlled GOP evil doers follow through with their tax deform bill as a means to please their corporate masters on Wall Street.

The double-crossing corporate controlled Republican stooges including Donald Trump, Lindsey Graham, Paul Ryan, Orrin Hatch, and Mitch McConnell are falsely claiming that the tax cuts will benefit the poor and middle class, while they are stabbing the poor and middle class in the back with their bald face lies. Promoting the big lie that is reminiscent of the tactics of Nazi era Joseph Goebels, the Republicans falsely insist that their tax cuts for the fortune 500 companies and filthy rich will eventually trickle down to others.

As the Paradise Papers reveal, the rich and powerful are already getting away without paying their taxes by using off shore tax havens. The tax deform bill of the GOP means that the rich and powerful will even pay less in taxes if it passes, while everyone else will have to pay more in taxes. This is a corporate swindle that will negatively affect most Americans and their children for the foreseeable future, unless the people rise up in anger and block the tax deform bills from being voted into law.

According to some explosive estimates in a report from the Joint Committee on Taxation, the obscene senate tax bill would add 13 million people to the ranks of the uninsured, to pay for tax cuts of nearly $100,000 per year for the top 0.1 percent. The corporate tax cuts are skewed to benefit the wealthy Wall Street shareholders and corporate CEOs, not the working class as the racist Trump regime falsely claims.

According to the report, if passed, the tax deform bill will result in:

1. Large net tax cuts for corporations. The bill cuts the corporate tax rate from 35 percent to 20 percent and sets an even lower rate on the U.S. taxes that multinationals would pay on their foreign profits. Other corporate provisions would raise revenues, but not enough to cover the cost.


2. Repeal of the Affordable Care Act’s (ACA) (Obama Care) individual mandate. The revised bill includes a permanent repeal of the ACA’s requirement that people get health insurance or pay a penalty. This provision would generate $53 billion in annual savings by 2027, paying for about one-third (about 4.7 percentage points) of the bill’s 15-percentage-point permanent cut in the corporate rate. Repealing the individual mandate would leave 13 million more people uninsured, raise premiums for millions more, and cause uncertainty and instability in the individual health insurance market.

3. Attacks on Social Security: A slower inflation adjustment, called the “chained CPI.” Another way the bill pays for its permanent corporate tax cuts is by adopting a different inflation measure — the chained Consumer Price Index (CPI) — to adjust tax brackets and other tax parameters every year. The chained CPI grows more slowly than the current inflation measure, so taxpayers across the board would pay slightly more, with the impact growing over time.

In other words, elderly people on social security will face major benefit cuts very soon, and the longer they remain on social security, the less money they will receive every year. Meanwhile the cost of rent is increasing along with everything else. This is a disaster in the making. If you do not want to see yourself, your friends, and family members become homeless and compelled to eat cat food and dog food as a way to survive, it is time to fight back against GOP’s tax deform bill, before they vote it into law this week.

More on the tax deform bills can be found with the National Low-Income Housing Coalition (NLIHC).

To call your Member of Congress to say “NO” to the tax deform bills?:

Toll free number for the US Capitol Switchboard 1-866-220-0044

Lynda Carson may be reached at tenantsrule [at] yahoo.com

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