WHAT IS THE 2017 GOP TAX LAW?

GOP TAX LAW 101

It gives corporations a tax break. Lowered the corporate tax rate from 35% to 21% with little to no benefit for working families.

It gives the wealthiest 1% a tax break. The 1% received 28% of the total benefit of the Republican Tax Law.

It puts Social Security and Medicare at risk. With tax breaks benefiting the wealthy, there’s less to fund these vital programs.

Corporations and the 1% continue to receive tax breaks and pocket increased profits.
Private equity firms are making tax shelters. As housing prices have skyrocketed, private equity firms have worked together to gouge families just trying to make rent.
Large business owners received a massive tax break from a new loophole known as a “pass-through deduction.” This means that their increased profits are filling their pockets rather than paying their workers. What was created under the guise of benefitting small businesses has disproportionately benefited large corporations.
The 1% continue to stash their fat stacks in off-shore accounts to avoid paying taxes on it at all.
The wealthiest 0.2% of Americans are compounding their wealth and consolidating it with fewer people by passing it to their heirs tax-free – removing billions from our economy.