If it's enacted, the GOP tax cut now working its way through Congress will be the start of a decades-long economic policy disaster unlike any other that has occurred in American history. - And this dire warning is from Forbes, the business publication.
Overwhelming analysis shows the tax plan does very little to help middle income families. The non-partisan Tax Policy Center found that after the tax plan has taken full effect in 2027, 80 percent of the benefits would go to the top 1 percent.
Ending the medical tax break could be a ‘gut punch’ to the majority of the country. Eliminating the medical-expense deduction would end a source of relief that has helped millions of people cope with steep medical costs in a country without comprehensive, universal health coverage.
Economic inequality leads to racism, xenophobia and plutocracy.
Under legislation proposed by Sen. Bernie Sanders (I-VT) and Rep. Jan Schakowsky (D-IL), corporations would pay U.S. taxes on their offshore profits as they are earned. The legislation would take away the tax incentives for corporations to move jobs offshore or to shift profits offshore because the U.S. would tax their profits no matter where they are generated.
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