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Economic Prosperity

Republicans Running Scared From Their Failed GOP Tax Scam Law

Aug 23, 2018

“The idea that the tax cuts were going to line workers’ pockets was always a mirage.”

This week, the “Job Creators Network” was scheduled to bring its multi-million-dollar corporate-funded bus tour to Ohio, with planned stops in Lancaster and Cincinnati as part of the special interest group’s nationwide tour attempting to sell the Republican tax law to voters. However, the group abruptly pulled both Ohio events, providing more evidence that Republicans are running scared from their failed tax scam law as the 2018 midterm elections draw nearer.

Republicans promised that their tax plan would deliver much-needed relief to middle-class families. But more than eight months after Republicans in Washington passed the GOP tax bill, ordinary Americans still aren’t feeling a boost. In fact, very few Ohio workers have been promised one-time bonuses or wage increases due to the Republican tax scam.

Instead, many workers’ wages aren’t just flat — they’re actually falling. Meanwhile, corporations are “engaging in a stock buyback bonanza” worth hundreds of billions of dollars.

“The Republican tax scam is the worst example of Washington politicians only looking out for themselves and their donors,” said For Our Future Ohio spokesperson Daniel van Hoogstraten. “Ohioans see straight through the Republicans’ tax gimmick, and now Republicans are running scared from their failed tax law.”

While the rich get even richer off of the tax scam, working families are left to pick up the tab: To pay for the tax scam’s $1.9 trillion price tag, Republicans in Washington are proposing steep cuts to health care, including trillions of dollars in cuts from Medicare, Medicaid, and the Affordable Care Act.

See what others are saying about the GOP tax scam:

  • “The most vulnerable Republican incumbents in the tightest congressional races in the November elections are talking less and less about the tax cuts.” –Reuters
  • “Six months after the Tax Cut and Jobs Act became law, there’s still little evidence that the average job holder is feeling the benefit.” –CBS News
  • “The idea that the tax cuts were going to line workers’ pockets was always a mirage… Today, many Republicans seem to realize that the tax cut has become a political liability, which is why they aren’t talking about it ahead of the November election. Even they realize that it doesn’t do any of what they promised.” –The New York Times
  • “Trump’s tax plan is failing to give American workers the wage growth he promised.”Newsweek
  • “The Republican tax cut created a windfall for Corporate America.” –CNN Money
  • “Some of the biggest winners from President Donald Trump’s new tax law are corporate executives who have reaped gains as their companies buy back a record amount of stock, a practice that rewards shareholders by boosting the value of existing shares.” -Politico
  • “The average hourly wage paid to a key group of American workers has fallen from last year when accounting for inflation, as an economy that appears strong by several measures continues to fail to create bigger paychecks…The fall in those wages has alarmed some economists, who say paychecks should be getting fatter at a time when unemployment is low and businesses are hiring.” –The Washington Post

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Paid for by For Our Future (forourfuturepac.org). Not authorized by any candidate or candidate’s committee.