Mind and Destiny

“I make no pretension to patriotism. So long as my voice can be heard ... I will hold up America to the lightning scorn of moral indignation. In doing this, I shall feel myself discharging the duty of a true patriot; for he is a lover of his country who rebukes and does not excuse its sins. It is righteousness that exalteth a nation while sin is a reproach to any people.”- Frederick Douglass

Location: Delhi, N.Y., United States

The author and his webmaster, summer of 1965.

Tuesday, June 06, 2017

Corporate Giveaway

Former Vice President Joe Biden said: "Don't tell me what you value, show me your budget, and I'll tell you what you value.” 
President Donald Trump’s tax plan would slash corporate tax rates from 35 percent to 15 percent, even though most profitable corporations pay an average tax rate of just 14 percent due to loopholes and deductions.  That’s less than many middle-class families pay, and less than half of what corporations should be paying.

Trump’s corporate tax plan would reduce federal revenues by $2.4 trillion over a 10 year period.  That’s the equivalent of five years of Medicaid funding, which provides healthcare to 70 million people each year―mainly seniors, children and people with disabilities.

House Republican’s version of Trumpcare and Trump's most recent budget would slash Medicaid a total of $1.4 trillion to help pay for tax cuts for the rich and corporations.

Trump’s tax plan would cut the top tax rate on so-called “pass-through” businesses from 40 percent to 15 percent.  These business owners pay taxes at the individual tax rate, not the corporate rate.  Trump’s plan would create a giant loophole so that his 500 businesses, Wall Street money managers, lobbyists, corporate lawyers, and other real estate developers could avoid paying their fair share of taxes.

President Trump’s corporate tax plan is another example of Ronald Reagan’s and George W. Bush’s trickle-down economics that lines the pockets of wealthy corporate CEOs and shareholders while working people are left behind.

If we’re going to grow the economy, create jobs, protect our families and invest in our communities we’ve got to make sure that millionaires, billionaires and wealthy corporations pay their fair share.

The budget Trump has proposed is cruel and would inflict pain on millions of poor and middle-class families.


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