{"id":2058,"date":"2017-11-15T15:00:00","date_gmt":"2017-11-15T15:00:00","guid":{"rendered":"http:\/\/democrats.org\/blog\/2017\/11\/15\/republican-tax-scam-corporate-tax-cuts-on-backs-of-middle-class-families\/"},"modified":"2017-11-15T15:00:00","modified_gmt":"2017-11-15T15:00:00","slug":"republican-tax-scam-corporate-tax-cuts-on-backs-of-middle-class-families","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/republican-tax-scam-corporate-tax-cuts-on-backs-of-middle-class-families\/","title":{"rendered":"Republican Tax Scam: Corporate Tax Cuts On Backs Of Middle-Class Families"},"content":{"rendered":"<p>The Senate Republican tax plan is one big scam that hurts middle-class families, all so Republicans could please their corporate donors with big tax cuts. See for yourself:<\/p>\n<p><strong>The Republican tax plan would make small<\/strong> <strong>middle-class tax cuts temporary, while keeping large corporate tax cuts permanent:<\/strong><\/p>\n<p style=\"margin-left:.5in;\"><a href=\"https:\/\/www.washingtonpost.com\/news\/wonk\/wp\/2017\/11\/15\/in-political-gamble-gop-gives-permanent-tax-cuts-to-corporations-but-not-people\/?utm_term=.cb38d00ce1cf\">Washington Post&rsquo;s Wonkblog<\/a>: &ldquo;The essential gamble of Republican plans to overhaul the tax code is now becoming clear: <strong>Big businesses get a large, permanent tax cut, while American families receive only temporary tax relief<\/strong> that expires as soon as 2023 in the House bill and 2026 in the Senate bill. In the House bill, the tax increase would mostly hit moderate and middle-income families because a credit designed to help them expires after five years.<\/p>\n<p style=\"margin-left:.5in;\"><a href=\"http:\/\/www.latimes.com\/politics\/la-na-pol-gop-tax-plan-20171115-story.html\">Los Angeles Times<\/a>: &ldquo;Senate plan would make <strong>individual tax breaks temporary while corporate cuts would be permanent<\/strong>&rdquo;<\/p>\n<p><strong>Republicans would let corporations keep deductions while restricting them for working families:<\/strong><\/p>\n<p style=\"margin-left:.5in;\"><a href=\"http:\/\/www.businessinsider.com\/trump-tax-plan-state-and-local-tax-deduction-pass-through-business-2017-11\">Business Insider<\/a>: &ldquo;Everyone agreed that <strong>corporations could still deduct state and local taxes<\/strong> as a business expense under the plan, the Tax Cuts and Jobs Act. Everyone also agreed that <strong>individuals are limited<\/strong> to a deduction of $10,000 in property taxes but can&rsquo;t deduct sales or income taxes.&rdquo;<\/p>\n<p style=\"margin-left:.5in;\"><a href=\"https:\/\/www.cnbc.com\/2017\/11\/15\/orrin-hatch-changes-senate-republican-tax-reform-plan.html\">CNBC<\/a>: &ldquo;However, <strong>millions of middle-income people could end up seeing a tax increase<\/strong>, due to the plan&#39;s elimination of provisions like state and local tax deductions.&rdquo;<\/p>\n<p><strong>And corporations say they won&rsquo;t use their tax cuts to benefit middle-class families, despite Republican lies that they would:<\/strong><\/p>\n<p style=\"margin-left:.5in;\"><a href=\"https:\/\/www.cnbc.com\/2017\/11\/15\/ceos-raise-doubts-about-gary-cohns-top-argument-for-cutting-the-corporate-tax-rate-right-in-front-of-him.html\">CNBC<\/a>: &ldquo;<strong>CEOs raise doubts about Gary Cohn&#39;s top argument for cutting the corporate tax rate<\/strong> right in front of him&rdquo;<\/p>\n<p style=\"margin-left:.5in;\"><a href=\"https:\/\/twitter.com\/TimJHanrahan\/status\/930481095988170757\">Wall Street Journal&rsquo;s Tim Hanrahan<\/a>: &ldquo;1. Tax-overhaul backers say corporate rate cut will encourage investment by businesses 2. During #wsjceocouncil interview with Gary Cohn, <strong>WSJ asks CEOs to raise hands if they&#39;ll boost investment if rates cut 3. Few CEOS raise hands <\/strong>4. Cohn asks: &lsquo;Why aren&#39;t the other hands up?&rsquo;&#8221;<\/p>\n<p style=\"margin-left:.5in;\"><a href=\"https:\/\/www.reuters.com\/article\/us-usa-tax-companies\/ceos-suggest-trump-tax-cut-may-lift-investors-more-than-jobs-idUSKBN1CV38Q\">Reuters<\/a>: &ldquo;<strong>CEOs suggest Trump tax cut may lift investors more than jobs<\/strong>&rdquo;<\/p>\n<p><strong>Millions of middle-class families<\/strong><strong> would face tax increases under the Republican plan:<\/strong><\/p>\n<p style=\"margin-left:.5in;\"><a href=\"https:\/\/www.nytimes.com\/2017\/11\/10\/us\/politics\/senate-tax-bill.html\">New York Times<\/a>: &ldquo;The Senate bill unveiled on Thursday would <strong>raise taxes on millions of middle-class families<\/strong>, according to a preliminary New York Times analysis.&rdquo;<\/p>\n<p style=\"margin-left:.5in;\"><a href=\"https:\/\/www.wsj.com\/articles\/how-a-new-inflation-measure-raises-taxes-on-the-middle-class-1510764898\">Wall Street Journal<\/a>: &ldquo;Tucked into Republicans&rsquo; tax overhaul bill is a technical tweak to how inflation is measured. The change is designed to hold down the deficit, but over time it becomes a <strong>significant tax increase that hits many of the same middle-class households<\/strong> who start out as the plan&rsquo;s beneficiaries.&rdquo;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Senate Republican tax plan is one big scam that hurts middle-class families, all so Republicans could please their corporate donors with big tax cuts. See for yourself: The Republican tax plan would make small middle-class tax cuts temporary, while keeping large corporate tax cuts permanent: Washington Post&rsquo;s Wonkblog: &ldquo;The essential gamble of Republican plans <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2058","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Republican Tax Scam: Corporate Tax Cuts On Backs Of Middle-Class Families - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/republican-tax-scam-corporate-tax-cuts-on-backs-of-middle-class-families\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-15T15:00:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/republican-tax-scam-corporate-tax-cuts-on-backs-of-middle-class-families\/\",\"url\":\"https:\/\/democrats.org\/news\/republican-tax-scam-corporate-tax-cuts-on-backs-of-middle-class-families\/\",\"name\":\"Republican Tax Scam: Corporate Tax Cuts On Backs Of Middle-Class Families - 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