|Where billionaires get their money|
Unfortunately, the legislation represents more of the same policies we’ve been seeing—tax cuts for the wealthiest individuals and corporations alongside deep cuts to crucial programs on healthcare, education, nutrition, disaster relief, environmental programs, and other services that support our communities. Even deductions for high medical bills, including nursing home care and hospitalization, may disappear.
“Pass-through companies”—in which income "passes through" the business and ends up on the individual tax returns of the business owner and are thus taxed at the lower, individual level—stand to benefit in a big way. The Trump Organization is an example of a pass-through company.
The bill is anything but a so-called tax break for the middle class.
We will face:
- Up to half-a-trillion dollars cut from Medicare and Medicaid
- Substantial increase in the national debt with no way to pay it off
- Elimination of state and local tax deductions – designed to hit people who live in "blue" states the hardest
- Repeal of an itemized deduction for medical expenses – hitting people who rack up large medical bills because of the inadequacies of our health insurance system
- Repeal of the deduction for interest on student loans
- Repeal of the deduction for teachers purchasing classroom supplies
- Slashed incentives for wind energy and electric vehicles, while maintaining most of the permanent oil incentives and extending nuclear energy tax breaks
We need to flood Congressional offices immediately with calls opposing the Republican tax plan and calling for an economy that supports prosperity for everyone. Wouldn’t that be real tax fairness?
Call today while negotiations over the tax bill are still in process – your action can make a difference!
1. Find your Representative in Congress
2. Call Capital Switchboard: 202-224-3121
Sample Phone Message:
Hello, my name is ______ from City/state. I am calling to urge Representative ______ to vote against the House tax bill. I am deeply concerned about the need to maintain support for crucial social and environmental programs. The wealthiest individuals and corporations in our country should pay their fair share of taxes, not less. I urge Representative _______ to oppose this bill and instead to support an economy that truly works for people and the planet – including support for healthcare, education, nutrition, disaster relief, environmental programs and community services. Thank you.
- Fran Teplitz, Green America