GOP tax cuts

Americans Overwhelmingly Reject Billionaire Handouts as GOP Pushes Tax Cuts

A New Republic survey reveals that a significant majority of Americans believe the wealthy possess excessive wealth and are not paying their fair share in taxes. This widespread dissatisfaction coincides with proposed GOP tax cuts that would disproportionately benefit the richest 1%, further fueling public anger. Senator Bernie Sanders’ “Fighting Oligarchy” tour directly addresses this issue, aiming to mobilize opposition to these cuts and highlight the growing economic disparity in the US. The survey’s findings underscore a deep-seated belief that the current wealth distribution is unjust and unsustainable.

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Trump GOP Tax Cuts Projected to Cost $7 Trillion

The Joint Committee on Taxation (JCT) estimates that extending the 2017 tax law’s expiring provisions, coupled with proposed GOP tax cuts, will cost $7 trillion over ten years. This surpasses previous estimates of $4.6 trillion, with the extension alone projected at $5.5 trillion. Senate Republicans’ additional $1.5 trillion in cuts further inflate the cost. Democrats strongly criticized the plan, citing its detrimental impact on the national debt and its disproportionate benefits to the wealthy.

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