Is 60% of the tax breaks to the top 1% of Americans not enough?
Sounds like GOP donors are calling again. Despite numerous polls affirming that Americans know the #GOPTaxScam dramatically favors the wealthy at the expense of the middle-class, Republicans are planning to further cut the tax rate for the wealthiest Americans. This change would affect only Americans with an income over of $1 million a year for couples and $500,000 for an individual, perhaps the most regressive step Republicans could take on a bill that already stacks the deck against the middle class. Don’t believe us? Take a look for yourself. From the Washington Post:
“Congressional Republicans are in advanced talks to lower the top tax rate for individuals from 39.6 percent to 37 percent as they finalize a massive $1.5 trillion tax package, said three people familiar with the negotiations.”
“The move follows complaints from wealthy taxpayers in New York and elsewhere that their taxes could go up under the legislation because of other changes it makes to the code.”
“The change, if finalized, would amount to a major tax cut for the wealthiest Americans. And it would be certain to spark a furious response from Democrats who are unanimously opposed to the legislation which they already have been casting as a giveaway to corporations and the rich.”
“The move follows complaints from wealthy taxpayers in New York and elsewhere that their taxes could go up under the legislation because of other changes it makes to the code.”
“The change, if finalized, would amount to a major tax cut for the wealthiest Americans. And it would be certain to spark a furious response from Democrats who are unanimously opposed to the legislation which they already have been casting as a giveaway to corporations and the rich.”