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OpEdNews Op Eds    H2'ed 8/6/18

The Rich Get Richer...

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Billionaires and giant corporations are getting ready to pop open the champagne: they might be getting another big fat tax cut.

That's right: Donald Trump wants to hand another $100 billion in tax breaks to his rich buddies -- and this is on top of the $1.5 trillion he gave away to billionaires and big corporations at the end of last year.

And Treasury Secretary Steven Mnuchin seems to think that the Trump administration has the power to push this tax cut through -- even without Congress's approval.

Let me be clear: we're not going to let Trump and Mnuchin go around Congress to give their corporate pals another huge tax cut at the expense of working people.

Their latest scheme? Cutting taxes on capital gains. And they're trying to disguise this tax giveaway to the wealthy as something Americans actually want.

But don't be fooled: these tax cuts will serve to fatten the pockets of the already rich and powerful. The richest of the rich already get most of the benefits of lower capital gains taxes -- a situation that will only get worse if the Trump administration has its way. More than 97% of the benefits of this scheme would go to the top 10% in the country.

We've seen this Republican scheme over and over again. Cut taxes for the rich, claim it will trickle down, and then say: "Sorry! There's no more money." No money to make the investments in working families so the next kid can get ahead, and the kid after that, and the kid after that.

Imagine what $1.5 trillion (plus possibly another $100 billion) could do. We could invest in infrastructure, create millions of good-paying jobs, decrease student loan debt, invest in quality pre-kindergarten for our kids, or put it towards ending the opioid crisis and saving people's lives.

All of those things -- any of those things -- would help our country a whole lot more than another giant GOP tax giveaway.

These tax decisions are not just about numbers, they're about our values. They're about who we are as a people and who we believe this government should work for.

It's clear who the Trump administration and Republicans believe they should work for: the rich corporate donors who keep them in office.

Donald Trump thinks he can bypass Congress to give away billions of tax cuts to the richest of the rich. Sign your name here to make it loud and clear: the rich and powerful need to pay their fair share.

Thanks for being a part of this.

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Elizabeth Warren was assistant to the president and a special adviser to the Treasury secretary on the Consumer Financial Protection Bureau. She single-handedly set us this bureau, putting in place the building blocks for an agency that will (more...)

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