Tag Archives: #GOPTaxScam

Real pay data show Trump’s ‘blue collar boom’ is more of a bust for US workers, in 3 charts

When looking at your paycheck, don’t forget about inflation. Leif Skoogfors/Getty Images

David Salkever, University of Maryland, Baltimore County

If you thought workers’ hourly pay was finally rising, think again.

At first glance, the latest data – which came out on Feb. 7 – look pretty good. They show nominal hourly earnings rose 3.1% in January from a year earlier.

But the operative word here is nominal, which means not adjusted for changes in the cost of living. Once you factor in inflation, the picture changes drastically. And far from representing a “blue collar boom” – as the president put it in his State of the Union address – the real, inflation-adjusted data show most U.S. workers have not benefited from the growing economy. Continue reading

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Amid Years of Funding Cuts to Public Health, First US Case of China’s Coronavirus Detected

Public health advocates say state, local, and federal agencies are underprepared to cope with the spread of a new infectious disease.

By Julia Conley, staff writer for Common Dreams. Published 1-21-2020

Coronavirus. Photo: CDC

Officials in Washington State reported Tuesday that a resident was diagnosed with the coronavirus which was first detected in Wuhan, China last month, leading federal public health agencies which have suffered billions of dollars in cuts in recent years to issue warnings and post information about the illness.

“This is an evolving situation and again, we do expect additional cases in the United States and globally,” Nancy Messonnier of the Centers for Disease Control and Prevention told the Washington Post. Continue reading

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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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