Here’s what the Republican tax bill does:
• Shovels a trillion dollars in tax breaks to giant corporations;
• Gives gigantic tax cuts to super-rich families and heirs to family fortunes;
• Eliminates tax deductions for people trying to pay their student loans, pay their medical bills, or buy a home
• Raises taxes on lots of working families; and
• Adds trillions of dollars to the national debt – which Republicans will use as an excuse to slash Medicare, Medicaid, and Social Security in the future.
At its core, it is a huge transfer of wealth to those who already have the most. It was passed without hearings or concern for its true fiscal impact on the debt or constituents.
There’s a lot this country could do with an $1.5 trillion. We could rebuild our roads and bridges. We could end childhood poverty or help parents afford childcare. We could invest it in medical research for autism, Parkinson’s or Alzheimer’s.
The Republicans have again put party above country and greed above all else.