Recent CRS Report Finds ‘Discouraging Findings’ About Tax Law’s Impact Seven organizations, including Americans for Tax Fairness, AFL-CIO, Communications Workers of America and Economic Policy Institute, have written to the chairmen and ranking members of the House and Senate tax writing committees urging them to investigate the 2017 Tax Cuts and Jobs Act in light […]
Tax Day Report and Online Calculator Show How Corporations & Wealthy Could Pay Fair Share Americans for Tax Fairness today released a 65-page report detailing about 40 progressive tax reform and revenue options that would make the tax system much fairer and could raise trillions of dollars for critical needs like protecting and strengthening Medicare […]
Fair Taxes Now: Revenue Options for a Fair Tax System report: Interactive calculator comparing tax increases on the rich and corporations with investment options for working families: https://americansfortaxfairness.org/calc Three revenue charts from our Fair Taxes Now Report can be found here: Options to Amend or Repeal Trump-GOP Tax Cuts for the Rich & Corporations: […]
February 5, 2019
SIX WORST FEATURES OF THE TRUMP-GOP TAX CUTS AND TALKING POINTS
Factsheet The Trump-GOP tax plan, formally known as the Tax Cuts and Jobs Act (TCJA), was signed into law on Dec. 22, 2017. The biggest broken promises and other worst features of the law are: #1: Trump and the GOP said “the benefits of tax reform (would) go to the middle class, not to […]
Congresswoman’s Proposal Is Supported by History, Current Economic Research & Is One Way to Raise Substantial Income Needed for Vital Public Services WASHINGTON, D.C.—The recent suggestion by Rep. Alexandria Ocasio-Cortez (D-NY) that the marginal tax rate on incomes over $10 million could be raised to as high as 70% is consistent with recent American history […]
Rx Industry’s Share Repurchases Hit $73 Billion Since Tax Law Passed While Drug Prices Continue to Surge The recently announced $74 billion merger between drug industry giants Bristol-Myers Squibb (BMS) and Celgene highlights how pharmaceutical companies are using their massive Trump-GOP tax cuts: to further enrich their shareholders and CEOs, rather than generally boost industry […]
Maker of Popular Arthritis Drug Humira That Costs Patients $38K Per Year Pays a 9% Corporate Tax Rate, Reports No U.S. Profits After raising the price of its best-selling drug 100% over the past six years and paying a corporate tax rate of just 9%—courtesy of the Trump-GOP tax cuts—pharmaceutical giant AbbVie yesterday announced the authorization […]
November 27, 2018
GM Layoffs Prove Tax Cuts Hurt, Don’t Help, Workers
General Motors’ announcement yesterday that it was idling five North American assembly plants and laying off nearly 15,000 workers proves once again that the only guaranteed winners from corporate tax cuts are corporations and their wealthy shareholders—not local communities and working families. So far this year, the giant automaker reports that it has received a […]
Trump-GOP Tax Cut Law Backfiring in GOP Reelection Bids Democratic challengers are winning newspaper endorsements around the country due in part to their opponents’ support of the Trump-GOP tax cuts that mostly benefit the wealthy and big corporations. Chicago Sun Times: “We have endorsed (Rep. Randy) Hultgren (R-IL) in the past, but we can’t this […]
September 20, 2018
ANALYSIS OF TAX ISSUES IN THE 2018 FEDERAL MIDTERM ELECTIONS
KEY FINDINGS “Republicans lost the messaging battle on the [tax] issue, per a Sept. 2 polling memo prepared for the Republican National Committee. Their poll found that by 61% to 30%, voters said the law benefits “large corporations and rich Americans” over “middle class families.” The memo attributed this to message discipline from the tax […]