'Capitol Hill arm-twisting failed to enact Trumpcare – so far at least. It succeeded overnight Friday for passage of grand theft Senate legislation – the misnamed Tax Cuts and Jobs Act.
House and Senate versions of the measure have nothing to do with economic growth or jobs creation – everything to do with grand theft and public betrayal.
It continues the longstanding transfer of the nation’s wealth from ordinary Americans to corporate predators and super-rich households – thirdworldizing the country, already unfit to live in, serving its privileged class exclusively.
Commenting on last night’s Senate passage, an Economic Policy Institute (EPI) email press release said:
“Senate Republicans just voted to hand tax breaks to millionaires, billionaires and corporations on the backs of working families.”
“They claim that their tax plan will boost wages for American workers. But real-world evidence suggests otherwise.”
“Cutting corporations’ taxes is not a recipe for increasing workers’ wages. It’s a recipe for exacerbating income and wealth inequality.”
Ballooning the federal deficit over the next decade will mean “higher interest rates, an overvalued US dollar and growing trade deficits.”'
Read more: The Colossal GOP Tax Cut Scam Boosted by Overnight Senate Passage