“Mike Pence should tell the truth to Iowa families who are hurting as a direct consequence of the Republican tax law that overwhelmingly benefits wealthy individuals and corporations at the expense of working Iowa families. Since the passage of the GOP tax law, nearly 3,500 Iowa workers have been laid off and workers’ wages have stagnated, while companies have pocketed record profits.”
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“In other words, banks appear to be making more money because they owe less in taxes, but not because of the economic growth proponents of the GOP tax bill said it would bring.”
“Today, many Republicans seem to realize that the tax cut has become a political liability, which is why they aren’t talking about it ahead of the November election. Even they realize that it doesn’t do any of what they promised.”
“Most reasonable people would agree that our tax code should give preferential treatment to those who work for what they bring home. Unfortunately, our current tax code does the exact opposite. The taxes on earned income range from 10 percent to 37 percent, while the taxes on long term capital gains range from 0 percent to 20 percent.”
“And Republicans, who have been adamant that talking about a booming economy will save them in the 2018 midterms, seem to have abandoned touting their tax cuts altogether. Instead they’re turning to the Trump playbook: Don’t talk about the tax bill, and stoke the culture wars.”