Monday, March 12, 2018

GOP Tax Cuts Are Worse Than We Thought

Yep, the repugs just snatched the wallets of every working person in the country and handed them directly to corporate shareholders.  Do not invest in new factories, do not create jobs, do not pass go.  Just steal the savings of everyone who's not obscenely rich.

Political Animal

Corporations aren’t just spending their tax cuts on stock buybacks. They’re investing at almost record levels on mergers and acquisitions, which increases what they’re making on buybacks. Isn’t that special?

Let’s take all this one step further though. Mergers and acquisitions are the building blocks of monopolies, something the Washington Monthly has been warning about for years as perhaps the single biggest contributor to stagnant wages and income inequality.

We can all complain that Democrats didn’t do enough to tackle the monopolization of our economy when they had majorities in Congress and a president in the White House. But now we see what the Republican position is. They aren’t just ignoring the issue, they’re feeding it with their corporate tax cuts and expect the rest of us to be happy with an extra buck fifty a week.
Noah at Down with Tyranny has it in meme form:
Take a look at that $6 Billion for workers. Chances are that is you, the reader of this post. If you are one of the approximately 300 Million Americans (I'm rounding it off just in the interest of simplicity), your average share of that $6 Billion would be $20.00. How's that $20.00 changing your life? Oh, you say your share is well above the average? OK. Great for you! You say your share is what $100? $1,000? $1,500? Wow! I bet that's life changing for you! That money can buy you a lot of healthcare, no?

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