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Latest Evidence Rich Don't Need Tax Cut: Top 1% $4.9 Million Wealthier Since 2007 While Everyone Else $4,500 Poorer


#1

Latest Evidence Rich Don't Need Tax Cut: Top 1% $4.9 Million Wealthier Since 2007 While Everyone Else $4,500 Poorer

Jake Johnson, staff writer

The GOP tax plan would widen the already massive gap between the wealthiest Americans and everyone else


#2

An email I just sent to my senator:


Don’t vote for the Republican tax bill tomorrow. How on earth can you give MORE to the top 1% and leave the rest of us poorer? Why do you support such a bill? Throw politics away and do the right thing. Do you know this? The top 1% is $4.9 million wealthier since 2007 while everyone else is $4,500 poorer. Why are you voting for a bill that continues this egregious practice?

We won’t forget, believe me.

(Signed)


#4

Thank you for the research!!!


#5

Here is my senator’s response (and sorry about the large print. I couldn’t make it smaller.):

I ran for the U.S. Senate because, like you, I was frustrated by the direction our country was going and fed up with business as usual in Washington. As an outsider and business guy, I saw an opportunity to shake things up; but we can only get the job done by listening to you. Your input helps me focus on the issues that are affecting millions of Georgians like yourself, and lets me know how Washington can better answer to you. From reining in out-of-control spending and growing our economy, to tackling our national debt crisis, there is no shortage of big problems that need to be addressed. Rest assured that your message is being reviewed by the appropriate member on my team. Please continue to reach out to me with your thoughts and concerns, and I will keep working on your behalf to get the results that you deserve.

He’s a Republican and like them all, he just ignores the important question I asked.

I plan to raise hell if he votes for the tax bill today, even if it fails, and I know he will.


#6

Even though most already know supply-side economics does not work, this article provides evidence. For the last decade, the wealthy have accumulated greater wealth and have not used it to make jobs.

Money in the hands of the middle class and lower class will make jobs through demand-side economics. Congressmembers are stupid so they need simple concepts made clear to them. People with little discretionary funds will spend extra money in their hands to meet their needs. Their spending will spur the economy.


#7

Where do tax cuts for the rich end up? Invested in shell companies offshore where it cannot be taxed. Donald Trump himself is the role model for this tax scam to not pay taxes. The Panama Papers were all about offshore shell companies and large corporations, the rich and the super rich having trillions of dollars offshore where it cannot be taxed. Donald Trump’s name and the name of his companies show up in the Panama Papers over 3,500 times. Trump last year was worth $3.1 billion and PAID NO TAXES on that money. Many of the investment companies and banks have trillions of dollars offshore where it cannot be taxed. The original propaganda for tax cuts for the rich is that those tax cuts would stimulate the economy, but the actual evidence is they stagnate the economy because most of the money is moved offshore. Tax cuts for the middle and working classes invariably gets spent in America or put in banks in America that invest in America, which stimulates the economy because of the spending and investment.

Tax Cuts for the Middle Class and Poor STIMULATE The Economy, But Tax Cuts for the Wealthy HURT The Economy

http://www.zerohedge.com/contributed/tax-cuts-middle-class-and-poor-stimulate-economy-tax-cuts-wealthy-hurt-economy