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“Small-Business” Tax Break in Trump-GOP Tax Law Found to Mostly Benefit Wealthy

One of the big lies President Trump and Republicans in Congress used to sell their 2017 tax cuts, which will cost nearly $2 trillion, is that it would greatly benefit “small-businesses.” Their pitch was that “job creators” like corner grocers, neighborhood plumbers and start-up web designers would get a huge tax break knowing full well that most […]

TRUMP BUDGET’S $235 BILLION TAX BREAK FOR BIG PHARMA, HEALTH INSURERS

While the subtitle to President Trump’s new budget reads “Promises Kept. Taxpayers First,” a more accurate slogan would be “Big Tax Breaks for Corporations, Taxpayers Last.” The administration’s treatment of the healthcare industry is a case in point: Trump’s budget would give $235 billion in tax breaks over 10 years to Big Pharma, insurance companies […]

TRUMP-GOP TAX LAW TALKING POINTS

The Trump-GOP tax law, formally known as the Tax Cuts and Jobs Act (TCJA), was signed into law in December 2017. Below are suggested talking points about the law that can also be used more generally to talk about taxes and the economy. [This fact sheet provides more details.] Americans want an economy that works […]

SIX WORST FEATURES OF THE TRUMP-GOP TAX CUTS

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 the […]

Warren’s Tax on Wealth [Greed] Would Correct Big Deficiency in Tax System

Link to Medium blog post here Sen. Elizabeth Warren’s recently proposed tax on “ultra-millionaires” gets at the real cause of our nation’s destabilizing economic inequality: the wealth gap. She would correct a blaring deficiency in our current tax system with a wealth tax on the super-rich, placing an annual 2% tax on fortunes over $50 million, and […]

Ocasio-Cortez’s Call for 70% Marginal Tax Rate on Super Wealthy Opens Debate on Tax Fairness

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 […]

ANALYSIS: THE TRUMP-GOP TAX CUTS ONE YEAR LATER

The Trump-GOP tax cut law, formally known as the Tax Cuts and Jobs Act (TCJA), passed Congress Dec. 20, 2017, and was signed into law by President Trump two days later. As we approach the law’s first anniversary, Americans for Tax Fairness recaps the major elements of the plan and analyzes its effects so far […]

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 […]

VOTE ON $3 TRILLION IN NEW TAX CUTS PLANNED IN U.S. HOUSE NEXT WEEK

ATF State Reports Detail How Measure Favors Wealthy, Increases Debt and Jeopardizes Critical Services WASHINGTON, D.C. – House Speaker Paul Ryan is expected to bring legislation to the House floor next week that would provide a second round of tax cuts which, like the first round last year, heavily favors the wealthy and businesses, will add […]

EDITORIAL BOARD MEMO: THIS LABOR DAY, WORKERS STILL WAITING FOR THEIR PROMISED $4,000 PAY RAISE

  WASHINGTON, D.C. – As you prepare editorials and messages to honor American workers this Labor Day, we urge you to consider the enclosed research and data showing how the Trump-GOP tax cuts are affecting workers and how they are faring in the current economy. President Trump promised that employers would use their  large tax cuts […]

EDITORIAL BOARD MEMO: TRUMP’S CAPITAL GAINS PROPOSAL IS ANOTHER TAX GIVEAWAY TO THE VERY, VERY RICH

WASHINGTON, D.C. – After signing into law massive tax cuts costing nearly $2 trillion that mostly benefit the wealthy and big corporations, President Trump wants to give the very rich another tax break—this time without approval from Congress. It would cost between $100 and $200 billion over 10 years. Both Trump (net worth: $3.7 billion) and […]

NATIONWIDE ‘DAYS OF ACTION’ TO MARK 53rd YEAR OF MEDICARE AND MEDICAID

More than 100 events in 58 cities to protest proposed cuts in healthcare services to pay for Trump-GOP tax giveaway to the wealthy and corporations WASHINGTON, D.C. – Activists around the country are holding about 100 events to mark the 53rdAnniversary on July 30thof the adoption of Medicare and Medicaid, and to highlight the effects that the […]

Editorial Board Memo: TRUMP-GOP TAX CUTS SIX-MONTHS ANNIVERSARY: AN ANALYSIS

The Trump-GOP tax cuts, formally known as the Tax Cuts and Jobs Act, passed Congress Dec. 20, 2017, and was signed into law by President Trump on Dec. 22. At the six-month point, Americans for Tax Fairness analyzes below the effects of the law based on six criteria, which rely on numerous authoritative sources. (A link to […]

Bank Heist: Wall Street Banks Get Huge Trump-GOP Tax Cuts, Enriching Shareholders But Sharing Little With Workers

On top of Bailouts, Big Banks Rewarded with Huge Tax Windfall Washington, D.C. – America’s big Wall Street banks and financial firms, profiting handsomely from the new Trump-GOP tax law, are using the bulk of their huge tax-cut savings to further enrich their already wealthy shareholders and executives while sharing little or nothing with their […]

More than 50 Organizations Urge Congress to End the Tax Preference for Shifting Jobs and Profits Offshore

Letter to Congress urges members to sponsor the No Tax Breaks for Outsourcing Act Washington, D.C. — Today, more than 50 national organizations sent a letter urging members of Congress to co-sponsor the No Tax Breaks for Outsourcing Act, which would overhaul the new international tax system put in place by the Tax Cuts and Jobs Act to ensure that […]

Harley-Davidson is a Case Study in How the Trump-GOP Tax Law is Failing American Workers — But It’s not Alone

After big tax-rate cut, Harley shut a Kansas City plant—costing 800 local jobs—rewarded shareholders with $700 million in stock buybacks and opened a new facility in Thailand. But the motorcycle maker’s corporate-tax-cut story is not unique. Washington, D.C. – Iconic motorcycle maker Harley-Davidson’s response to the new Republican tax law—cutting jobs, rewarding shareholders, and moving […]

Walmart, Home Depot, Cisco & Others Hold Earnings Call This Week: Will They Announce Any Benefits for Workers?

Only 4.2% of American Workers Have Seen One-Time Bonuses or Wage Hikes Result From the New Tax Law. Which Businesses Getting Tax Windfalls Will Be Next to Share the Wealth with U.S. Workers? Washington, D.C.—Americans for Tax Fairness (ATF) is tracking how businesses are spending their tax savings since the passage of the Tax Cut […]

$407 Billion in Corporate Stock Buybacks! How are Businesses in Your State Spending the Trump Tax Cuts?

Washington, D.C. – Today Americans for Tax Fairness released the latest updates on the Trump Tax Cut Truths website detailing how businesses are spending their tax savings since the passage of the Tax Cut and Jobs Act. The updates include a searchable map allowing you to easily find out how corporations headquartered in each state are spending […]

Will Trump’s Speech on Pharma Lead to More Than Tough Talk?

Washington, D.C. – This week, President Trump will deliver a speech with more tough talk about pharmaceutical corporations “getting away with murder,” but instead of holding Big Pharma accountable for price gouging and offshore tax avoidance, Trump and the GOP recently rewarded these companies with massive tax breaks. Americans for Tax Fairness has released a […]

Stock Buybacks Under Trump Tax Cuts Climb to $387 Billion — 58 Times More Than $6.7 Billion Corporations Are Giving Workers

Apple’s new $100 billion stock buyback is 333 times the amount it has promised its employees in a one-time bonus Washington, D.C. — In the latest evidence that the Trump-GOP tax cuts were never intended to help working Americans, stock buybacks climbed to $387 billion yesterday, which is 58 times more than the $6.7 billion […]

Questions about How Apple’s Spending Its Tax Savings Ahead of Earnings Call Tomorrow

BIG PAYOUTS TO INVESTORS, “NEW INVESTMENTS” NOT LINKED TO TAX PLAN Washington, D.C.—Tomorrow, Tuesday, May 1, Apple will hold its quarterly earnings report and this presents an opportunity to ask the company whether it will invest more of its tax savings in its workers.  According to a new website launched by Americans for Tax Fairness, […]

Questions About How Merck & Gilead Sciences are Spending Their Tax Savings Ahead of Earnings Calls Tomorrow

Tax Savings Are Enriching Wealthy Shareholders, Not Raising Wages or Lowering Prices Washington, D.C. – Tomorrow, Tuesday, May 1, Merck and Gilead Sciences will hold quarterly earnings calls, and this presents an opportunity to ask, “how much of your tax savings are being shared with your workers or reducing the costs of prescription drugs for patients?” […]

Bad Medicine: How GOP Tax Cuts Are Enriching Drug Companies, Leaving Workers & Patients Behind

View the Full Report in PDF here. INTRODUCTION & KEY FINDINGS America’s 10 biggest prescription-drug corporations—the Pharma Big 10—are among the biggest winners from the Trump-GOP tax cuts but they are sharing few of the benefits with their employees and are offering no pricing relief to their customers. Instead, they are mostly rewarding their CEOs […]

Will Verizon Answer for Shortchanging Workers When It Comes to Sharing Its Tax Cut Windfall?

Washington, D.C.–On Tuesday, April 24, Verizon held its quarterly earnings report. Will the telecom giant answer as to why more of its estimated $2.4 billion 2018 tax cut is not being shared with employees or creating jobs? According to a new website launched by American’s for Tax Fairness, which tracks what corporations are doing with […]

News-Press: Republicans, tax law stick it to working families

This article appeared in News-Press. Frank Clemente, ATF Executive Director wrote: Working families are, as usual, getting the short end of the stick from the new Trump-GOP tax law. Huge tax cuts that mostly go to the wealthy and corporations are exploding the national debt, and threaten deep cuts to essential public services like Social […]

Americans’ Health Care and Public Services at Risk From Trump Tax & Budget Cuts, New Report Warns

Trump/GOP Tax Breaks for Wealthy, Rx and Insurance Companies, and Trump Budget Show Grim Future of Drastic Health Care and Other Service Cuts for Working Families Washington, D.C. – This week in communities across the country advocates are holding events to educate the public about the harmful effects of the new tax law. Advocates at […]

ATF Launches Comprehensive Website ‘Trump Tax Cut Truths’

Searchable Database Includes More than 830 Corporations and Covers Size of Tax Cuts, Stock Buybacks, Workers’ Bonuses and Wage Hikes, Job Cuts and More Washington, D.C. – Americans for Tax Fairness today launched a comprehensive website, “Trump Tax Cut Truths,” detailing what American corporations are doing with their Trump tax cuts. The website includes searchable […]

2018 Tax Messaging

Resources for 2018 tax messaging: 2018 Tax Message Survey Memo, 3/20/2018 2018 Talking Points from Message Survey, 3/20/2018 2018 Tax Message Survey PPT Deck, 3/20/2018 Polling on Trump-GOP Tax Law by Party, 3/20/2018

Trump To Promote His Tax Plan At Boeing, But So Far, Company Has Rewarded Shareholders, Not Workers

With Tax Cut, Plane Maker Decided to Buy Back $4B of Stock, Boost Dividend by 20%, but not Give Employees a Pay Hike or Bonuses WASHINGTON, D.C.—President Trump will try to rally support for his unpopular corporate tax giveaway at a St. Louis Boeing plant Wednesday, but the company serving as his backdrop has yet […]

ATF Applauds Senate Democrats’ Plan to Fund Infrastructure by Rolling Back Trump Tax Cuts for the Wealthy

Wall Street Would Help Pay for Upgrades, Not Profiteer as Under Trump Plan WASHINGTON, D.C.—Senate Democrats today unveiled a $1 trillion plan to upgrade America’s crumbling infrastructure, paying for it by rolling back tax cuts lavished on the nation’s wealthiest households and corporations in last year’s Trump-GOP tax giveaway. The Democrats’ plan—which among many vital […]

Scrap the Cap

In February, millionaires and billionaires stopped paying their fair share into Social Security. That’s because, once you earn $128,400 in a calendar year, you stop contributing to Social Security. But while millionaires and billionaires are off the hook, you and I continue to pay into a system that benefits all Americans. Sign the petition demanding […]

House and Senate Legislation Would Close Loopholes in Trump-GOP Tax Law That Incentivize Shifting Jobs & Profits Offshore

“No Tax Breaks for Outsourcing Act” Would Remedy Trump Failure to Stop Manufacturing from Disappearing Offshore WASHINGTON, D.C. – New legislation introduced today would end tax incentives that encourage multinational corporations to shift jobs and profits offshore that were enacted under the recent tax legislation pushed by President Trump and Republicans in Congress. Sponsored by House Ways and […]

Mike Pence’s Fake News on Corporate Investment

At the conservative CPAC conference on Thursday, Vice President Mike Pence claimed that the Trump tax cuts are responsible for hundreds of billions in new corporate investment. Pence boasted, “Since the President’s tax cuts became the law of the land, businesses large and small have actually announced more than $480 billion in new investments in […]

Cisco’s Wealthy Shareholders, Not Workers, Benefit From Trump Tax Giveaway

Company to Bring Home $67B in Offshore Profits Under Discounted Rate and Get a $10 Billion Tax Break WASHINGTON, D.C.—Cisco Systems has just announced it will return to the U.S. $67 billion in offshore profits held in cash this quarter and spend much of the money on stock buybacks and increased dividends, and apparently spend […]

7 Reasons why Trump’s Tax Cuts Make No Sense

Check out this video in collaboration with MoveOn.org to see seven reasons why Trump’s corporate tax cuts make no sense.

Corporate Tax Dodging Outlined in New Report Hurts Jobs and Working Families

Tax loopholes let big U.S. corporations dodge more than a half-trillion dollars in U.S. taxes in recent years. Yes, this shows the system is rigged. But it’s also a huge missed opportunity—to invest in good-paying jobs and the American people. The Institute on Taxation and Economic Policy (ITEP) has just issued the latest in its […]

Trump’s Treasury Pick Will Further Rig the System

Donald Trump ran for president claiming he would end a rigged economic system that works against working people. But Trump’s pick of Steven Mnuchin to run his economic program—including tax policy—shows his real plan is to slant the system even more in favor of billionaires like himself, Mnuchin and their pals on Wall Street. Mnuchin, […]

ATF Op-ed in Huffington Post: Trump’s Infrastructure Plan Offers Private Gain, Public Pain

Op-ed originally published on The Huffington Post by Frank Clemente, executive director, Americans for Tax Fairness, November 22, 2016 Donald Trump promised he would drain the swamp in Washington, but his proposal to repair our crumbling infrastructure will do anything but that. It’s the same kind of special interest giveaway voters revolted against on Election Day. […]

Corporate Tax Chartbook: How Corporations Rig the Rules to Dodge the Taxes They Owe

In recent years, corporate profits have reached record highs, and so too has the amount of untaxed profits U.S. corporations have stashed offshore: $2.4 trillion. And it is estimated corporations could owe as much as $700 billion on those profits. In short, corporations are dodging more and more of their tax responsibilities. While the statutory […]

Huffington Post Op-ed: Gilead Sciences: Price Gouger, Tax Dodger

Op-ed originally published on The Huffington Post by Frank Clemente, executive director, Americans for Tax Fairness, July 18, 2016 If you think the pharmaceutical industry has stolen all it can from the American people through its price gouging, think again. Even as they’re pricing medications as high as the market can bear and beyond, drug […]

It’s Tax Time, But Corporations Aren’t Paying

This op-ed by ATF Executive Director Frank Clemente also appeared on the Huffington Post. Tax Day offers a stark reminder of the difference between those of us who pay all our taxes every year and the big corporations that don’t. While families and small businesses scramble to file their returns each April, multinational corporations are free […]

Families Advance With Recent Tax Bill, But Corporations Got a Lot More

This blog post also appeared on the Huffington Post. Surprisingly, Congress’s $680 billion holiday-season tax deal will bring some cheer to working families and not just to big corporations this year. Refundable tax credits putting extra cash in the hands of hard-pressed workers and parents were included in a huge year-end gift-wrapped package of tax […]

Bad Medicine: Pfizer’s Offshore Tax Trick Just Latest of Many Scandals

Pfizer doesn’t play pfair. The recent announcement that it would renounce its American identity and become an Irish company — thereby dodging billions of dollars in taxes — is just the latest in a string of shady scandals and sleazy behaviors by the pharmaceutical giant. It is obvious Pfizer will go on taking advantage of the […]