GOP Tax Plan: Massive Redistribution of Wealth to the Already Wealthy

GOP Tax Plan: Massive Redistribution of Wealth to the Already Wealthy

The GOP tax plan that passed the House of Representatives in November is a massive redistribution of wealth to the already wealthy. An ITEP analysis of the plan finds 31 percent of the tax cuts would go to the top 1 percent in 2018 and 48 percent of them would go to the top 1 percent by 2027. ITEP Executive Director Alan Essig said of the plan, “Opinion polling shows the vast majority of Americans do not support this tax plan. A significant percent believe it will only help the wealthy and corporations. Yet lawmakers continue full speed ahead with dubious promises that trickle-down economics will really work this time. This tax plan will not ease working people’s economic anxiety, it will make it worse.

Source: http://www.ctj.org/gop-tax-plan-massive-redistribution-of-wealth-to-the-already-wealthy/