Speaker Nancy Pelosi

U.S. House of Representatives

SHOCKER. GOP Tax Scam Isn't Creating Jobs or Raising Wages.

April 24, 2018
Blog
Remember when Republicans promised the GOP tax scam’s massive tax cuts for corporations would ‘put America first’, create more jobs and raise wages for American workers?

Well… that’s clearly not the case.

According to the latest survey by the National Association for Business Economics, the GOP’s massive tax cuts for Wall Street and Corporate America – which were promoted over and over again as a greater economic opportunity boost for everyone – haven't made any difference in businesses’ hiring plans.

The Associated Press reports:

Nearly two-thirds of respondents in the latest survey by the National Association for Business Economics say President Donald Trump's tax cuts, which were promoted as likely to spur hiring and investment, haven't affected their plans.

The president and congressional Republicans have attributed much of the economy's recent gains to corporate optimism over last year's $1.5 trillion worth of tax cuts, which included a permanent reduction in business tax rates … Yet the survey of business economists appears to downplay whatever influence Trump's tax and trade policies might be having on corporate America's plans.

Instead, the GOP tax scam is further enriching the big corporations – like Wells Fargo.  After a ‘tough year’ of being fined $1 billion for the bank’s massive consumer abuses while the GOP tax scam gives them an estimated $3.7 billion tax windfall this year alone, Wells Fargo’s millionaire executives are being handed even bigger paychecks, according to Bloomberg:

Wells Fargo & Co.’s leaders deserve fatter paychecks after a tough year, according to investors.

Shareholders voted Tuesday 92.4 percent in favor of the bank’s executive compensation plan … Some critics of the bank expressed outrage last month, after the firm awarded Chief Executive Officer Tim Sloan a $17.4 million package for 2017, a 36 percent raise.

The GOP is running out of talking points on their tax scam.  Instead of the relief it was promised to be for middle class families, Republicans’ tax bill mortgages the future of seniors and working families in order to hand massive tax breaks to Wall Street, pharmaceutical companies, corporations shipping jobs overseas and the wealthiest one percent.

And as the GOP offers the American people a raw deal, Democrats are fighting for A Better Deal: Better Jobs, Better Wages, and a Better Future for everyone.