Tag Archives: #GOPTaxScam

Trump, Granting Lobbyist Demands, Quietly Handed Billions More in Tax Breaks to Huge Corporations: Report

“Trump is the most corrupt president in history, and here’s the latest example of how that corruption helps giant corporations.”

By Jake Johnson, staff writer for Common Dreams. Published 12-30-2019

Treasury Secretary Steven Mnuchin and President Donald Trump at a Tax reform press briefing October 31, 2017. Screenshot: YouTube

A “disturbing” New York Times story published Monday detailed how President Donald Trump’s Treasury Department, led by former Goldman Sachs banker Steve Mnuchin, has quietly weakened elements of the 2017 tax law in recent months to make it even friendlier to wealthy

individuals and massive corporations.

Lobbyists representing some of the largest corporations in the world, the Times reported, targeted two provisions in the original 2017 law designed to bring in hundreds of billions of dollars in revenue from companies that had been dodging U.S. taxes by stashing profits overseas. Continue reading

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Activists Who Confronted Mnuchin During UCLA Protest Now Facing Years in Jail

“Mnuchin was bragging about killing sanctions and their politics of cruelty, but we’re charged with ‘disturbing the peace’ for speaking loudly during his event!”

By Julia Conley, staff writer for Common Dreams. Published 10-1-2019

The UCLA 5, a group of protesters who demonstrated at an appearance Treasury Secretary Steve Mnuchin gave at UCLA in 2018, are facing potential jail time for their non-violent action. (Photo: @MichelleXai/Twitter)

Four non-violent campaigners said Tuesday that their First Amendment rights were violated last year by Treasury Secretary Steve Mnuchin, who attempted to suppress video of the group’s peaceful demonstration against the Trump administration at an event at UCLA in 2018.

Opening arguments in the trial began Friday and continued Tuesday morning at the Los Angeles County Superior Court. Continue reading

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Bolstered by Trump Tax Scam, Number of US Corporations Paying ‘Not a Dime’ in Federal Taxes Doubled in 2018

“Corporations zeroing out their tax bills or paying single-digit federal tax rates mean a substantial loss in federal revenue. Calls to cut critical programs and services in the wake of these corporate tax cuts are absolutely connected.”

By Eoin Higgins, staff writer for Common Dreams. Published 4-11-2019

Steve Mnuchin, Mike Pence and Gary Cohn watching the Senate vote on the 2017 tax bill. Photo: White House

A new analysis out Thursday shows that tax policy under the Trump administration is benefitting large corporations to such a degree that twice as many large companies will pay nothing in federal taxes for 2018 compared to previous years.

The report by the Institute on Taxation and Economic Policy, which comes less than a week before tax day in the United States on April 15, found that 60 companies—including Amazon, Netflix, Activision Blizzard, General Motors, and IBM—used “a diverse array of legal tax breaks” to bring their federal tax liability to zero. Continue reading

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‘Like Nominating Dr. Phil to Run CDC’: Alarm Bells as Trump Nominates Right-Wing Sycophant Stephen Moore to Federal Reserve

Concerned economic and political commentators decried Moore as “a famous idiot” who “has proved deeply impervious to facts.”

By Jessica Corbett, staff writer for Common Dreams. Published 3-22-2019

President Donald Trump said Friday he will nominate right-wing commentator Stephen Moore to the Federal Reserve board. (Photo: CBN)

Economists and progressive experts responded with exasperation and unease on Friday after President Donald Trump said he will nominate right-wing commentator Stephen Moore to the Federal Reserve, the gatekeeper of the nation’s economy.

“I will be nominating Mr. Moore for the Fed. You know who I’m talking about,” Trump told reporters while arriving in Florida for the weekend. “He’s going to be great on the Fed.” Continue reading

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New Legislation Aims to Avert Arctic Giveaway to ‘Corporate Polluters’ Sneaked Into GOP Tax Scam

Announcement comes as scholars warn fossil fuel drilling in Arctic refuge “would contribute to the escalating crises of climate change and biological annihilation.”

By Andrea Germanos, staff writer for Common Dreams. Published 2-12-2019

A member of the Porcupine caribou herd, which conservation groups say would be horribly impacted if fossil fuel exploration and extraction takes place in ANWR’s coastal plain. New legislation sponsored by Rep. Jared Huffman (D-Calif.) aims to make sure that doesn’t happen. (Photo: G MacRae/flickr/cc)

Conservation groups are cheering the introduction on Monday of a measure to stop fossil fuel extraction in a section of the Arctic National Wildlife Refuge (ANWR).

“This bill calls a halt to the administration’s headlong rush to sell off this special wilderness to corporate polluters,” said John Bowman, senior director for federal affairs at the Natural Resources Defense Council. “And it preserves the fundamental human rights of the Gwich’in people whom these lands have sustained for thousands of years, and who—among two-thirds of all Americans—oppose drilling in the Arctic Refuge.”

The legislation is a renewed effort by Rep. Jared Huffman (D-Calif.), and would repeal a provision included in the GOP’s 2017 tax bill (pdf). Denounced as “a Big Oil polar payout,” the provision opens the refuge’s coastal plain to oil and gas exploration and drilling. Continue reading

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A Year After ‘One of the Greatest Heists in US History,’ Survey Confirms Corporate Tax Cuts Didn’t Lead to Hiring and Raises for Workers

“The GOP Tax Scam was always about making the wealthy and big corporations richer while leaving millions of working families behind.”

By Julia Conley, staff writer for Common Dreams. Published 1-28-2019

A poll released Monday confirmed that corporations’ financial windfall following the passage of the Republican tax plan in 2017 did not lead to corporate investment in jobs and raises. (Photo: @zacjanderson/Twitter)

The release of a new survey on Monday confirmed that corporations used the $1.5 trillion giveaway in the Republicans’ 2017 tax plan for their shareholders and top executives—not their workers or reinvesting in their businesses.

The National Association of Business Economics’ (NABE) quarterly poll found that 84 percent of companies were not ramping up spending in the form of hiring, raises, and other capital investments. Continue reading

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With Nation Transfixed By Kavanaugh Monstrosity, House GOP Votes to Give Rich Another $3 Trillion in Tax Cuts

“This is yet another shameful tax law that would swindle working families and siphon even more funding from the programs that help our communities thrive.”

By Jake Johnson, staff writer for Common Dreams. Published 9-28-2018

“In less than a year, House Republicans have handed out trillions of tax cuts for the wealthy and big corporations,” added Rep. Richard Neal (D-Mass.), ranking member of the House Ways and Means Committee. (Photo: Tax March)

With the nation’s attention rightly transfixed by the Senate GOP’s monstrous efforts to ram through a Supreme Court nominee who has been credibly accused by multiple women of sexual assault, House Republicans on Friday voted overwhelmingly to approve another $3 trillion in tax cuts for the wealthiest Americans just weeks before the November midterms.

“Today the GOP doubled down on last year’s giveaway to the donor class known as the Tax Cuts and Jobs Act,” Morris Pearl, chair of the Patriotic Millionaires, said in a statement following the 220-191 vote. “Tax Cuts 2.0 gives nearly $3 trillion to the wealthiest Americans, and will become yet another excuse for Republicans to slash Medicare and Social Security.”

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Just Hours After Ordering Pay Cut for Millions of Public Workers, Trump Proposes $100 Billion Gift to Richest 1%

“Trump wants to send another kiss to the rich—unilaterally, without any approval from Congress. He ignores the law, governs for the top one percent, and doesn’t give a hoot about the rest of us.”

By Jake Johnson, staff writer for Common Dreams. Published 8-31-2018

“Hours after cheating millions of middle class workers, Trump wants to send another kiss to the rich—unilaterally, without any approval from Congress,” Rep. Bill Pascrell (D-N.J.) wrote on Twitter late Thursday. (Photo: Timothy Krause/cc/flickr)

Hours after he launched yet another “direct attack” on workers by canceling a modest pay raise for around two million federal employees, President Donald Trump told Bloomberg on Thursday that he is considering a regressive and possibly illegal plan to use his executive power to hand the rich another $100 billion in tax cuts by indexing capital gains to inflation.

“There are a lot of people that love it and some people that don’t,” Trump said of the plan, which would disproportionately reward the top 0.01 percent of Americans. “But I’m thinking about it very strongly.” Continue reading

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Putting Common Good Over Billionaires and War Profiteers, House Progressives Introduce “People’s Budget”

The Congressional Progressive Caucus’ plan “invests in our neglected infrastructure, ends the systematic inequality in our tax system by making corporations pay their fair share, and stops the rising cost of drugs.”

By Jake Johnson, staff writer for Common Dreams. Published 7-24-2018

“The People’s Budget embodies that new vision by investing in the interests of the people over the interests of the arms industry and the billionaire class,” Paul Kawika Martin, senior director for policy and political affairs at Peace Action, noted in a statement on Tuesday. (Photo: Congressional Progressive Caucus)

Offering an ambitious alternative to the House GOP’s “morally bankrupt” 2019 budget proposal—which demands over $5 trillion in cuts to Social Security, Medicaid, and other life-saving programs—the Congressional Progressive Caucus (CPC) on Tuesday unveiled a budget that calls for massive investments in infrastructure, healthcare, and education while proposing significant cuts to the completely “out-of-control” Pentagon budget.

Titled The People‘s Budget: A Progressive Path Forward (pdf), the CPC’s plan also calls for a ban on “any expansion of U.S. combat troops in Syria, Iraq, Yemen, Afghanistan, and many other countries,” demanding an immediate end to “the policy of funding endless wars.” Continue reading

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“Slap in the Face” to Poor Americans: House GOP Passes Farm Bill Attacking Nation’s Hungriest Families

“This is just another attempt by Paul Ryan to pretend that the biggest problem with the federal deficit is lazy poor people, not the $1.5 trillion tax cut he and his colleagues just gave to the richest people in the country.”

By  for Common Dreams. Published 6-22-2018

A grocery store in Missouri informs customers that food stamps are accepted. (Photo: Paul Sableman/Flickr/cc)

With the Poor People’s Campaign protesting “policy violence against families and children” outside the Capitol Building, House Republicans on Thursday forced through a “shameful” and “cruel” Farm Bill that would deprive about 2 million Americans of the Supplemental Nutrition Assistance Program (SNAP), often called food stamps.

“It’s a deliberate slap in the face to the millions of low-income Americans who rely on SNAP benefits to survive,” declared Morris Pearl, chair of Patriotic Millionaires. “We don’t want to live in a country where the government allows its citizens to starve, and neither should anyone else.” Continue reading

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