Author: andrea

Big drug corporations have raised prices so high that millions of Americans can’t afford medicines needed to treat illness, manage their health and take care of their families. But drug corporation abuses don’t end there—they are ripping off consumers, taxpayers and the federal government several ways at once. DRUG CORPORATIONS PRICE-GOUGE CONSUMERS & TAXPAYER-SUPPORTED HEALTHCARE […]
“I would expect capital spending to really take off if the tax bill passes.” – CEA Chair Kevin Hassett, Oct. 17, 2017 [Washington Post] Source: BEA, National Accounts (NIPA): Section 1, Table 1.1.1, Line 9: “Percent Change From Preceding Period In Real Gross Domestic Product: Gross private domestic investment: Fixed investment: Nonresidential.” https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=2 – reqid=19&step=2&isuri=1&1921=survey Supporters […]
“I consider this very much… a bill for jobs.” – President Trump at signing ceremony for TCJA, Dec. 22, 2017 [NBC] Source: BLS, “Employment, Hours, and Earnings – National: Current Employment Statistics: Total Nonfarm Employment, Seasonally Adjusted.” Average of monthly job gains; 2019 figure is average of 10 months of data so far available. https://www.bls.gov/data/ […]
“We have $21 trillion in debt. When this [tax cut] really kicks in we’ll start paying off that debt like water.” – President Trump, July 26, 2018 [NY Magazine] “[A]s I’ve said at 3% economic growth this tax plan will not only pay for itself but in fact create additional revenue for the government.” – […]
“The economy now is at 3%. Nobody thought it would be anywhere close. I think it could go to 4, 5, and maybe even 6%, ultimately.” – President Trump, Dec. 16, 2017 [Real Clear Politics] “This huge tax cut will be rocket fuel for our economy.” – President Trump, Sept. 29, 2017 [Wall Street Journal] […]
“The large number of pass-through returns, [98 percent], are all $500,000 or less. Those people will get substantial reductions — small and medium-size businesses.” – Treasury Secretary Steven Mnuchin, Nov. 17, 2017 [CNBC] Source: Joint Committee on Taxation via Bloomberg https://www.bloomberg.com/graphics/2018-tax-plan-consequences/ Almost half of the benefits of this supposed “small” business tax cut are going […]
“My Council of Economic Advisors estimate that [changes in the taxation of offshore profits], along with a lower business tax rate, would likely give the typical American household around a $4,000 pay raise.”– President Trump, Oct. 11, 2017 [YouTube] “When we use the more optimistic estimates from the literature, wage boosts are over $9,000 for […]
“Our framework ensures that the benefits of tax reform go to the middle class, not to the highest earners.” – President Trump, Oct. 11, 2017 [USA Today] “The rich will not be gaining at all with this plan.” – President Trump, Sept. 13, 2017 [The Guardian]   Source: Institute on Taxation and Economic Policy (ITEP), […]
“This is going to cost me a fortune, this thing, believe me. This is not good for me. Me, it’s not so – I have some very wealthy friends. Not so happy with me. But that’s OK. You know I keep hearing Schumer: ‘This is for the wealthy.’ Well, if it is, my friends don’t […]
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