Tag Archives: Institute on Taxation and Economic Policy

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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‘A Staggeringly Bad Idea’: Outrage as Pelosi Pushes Tax Rule That Would ‘Kneecap the Progressive Agenda’

“This is a very bad idea, House Democrats. It makes no sense whatsoever to give Republicans veto power over progressive legislation.”

By Jake Johnson, staff writer for Common Dreams. Published 11-16-2018

Nancy Pelosi. Photo: Gage Skidmore/flickr

Nearly three-quarters of the American public and a historic number of Democratic lawmakers support Medicare for All, but the House Democratic leadership is considering using its newly won majority to impose a rule that would “recklessly betray” the grassroots forces that put them in power by making single-payer and other progressive priorities impossible to enact.

According to a list of Democratic proposals obtained by the Washington Post, House Minority Leader Nancy Pelosi (D-Calif.)—who is currently fighting back against efforts to prevent her from becoming House Speaker—is pushing for a rule that would “require a three-fifths supermajority to raise individual income taxes on the lowest-earning 80 percent of taxpayers.” Continue reading

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With Most Benefits Going to Rich, ‘Reckless and Stupid’ GOP Tax Scam 2.0 Could Cost $3 Trillion Over Ten Years

“Think how many kids we could put through college, roads we could pave, families that could get child care, seniors that could get help with prescription drugs with that much money. Shame!”

By Jake Johnson, staff writer for Common Dreams. Published 9-11-2018

Tax reform press briefing October 31, 2017. Screenshot: YouTube

In their latest “reckless and stupid” bid to deliver massive rewards to ultra-wealthy Americans, House Republicans on Monday introduced three pieces of legislation that make up the GOP’s so-called “Tax Reform 2.0” package.

But with less than two months to go before crucial midterm elections, early estimates indicate the GOP’s proposals would blow a nearly $3 trillion hole in the federal budget over ten years while sending the vast majority of the benefits to the top. Continue reading

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