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Economic Prosperity

With Tax Season Underway, Trump-GOP Tax Scam Fails to Deliver on Promise

Jan 27, 2020

With tax season officially underway, many Ohioans may be wondering why they haven’t felt the much-promised financial boost from President Trump’s tax overhaul. That’s because the Trump-GOP tax law has proven to be a scam, with most of the benefits going to the top earners and big corporations.

President Trump and Republicans in Congress promised that their 2017 tax law would boost workers’ wages, spur job creation, and pay for itself. Yet two years after the Republican tax scam law went into effect, it’s abundantly clear that Trump and Republicans in Congress have broken their promise to everyday Ohioans:“The Republican tax scam law is effectively a blank check for the wealthiest Americans,” said For Our Future Ohio Action Fund State Director Antonia Webb. “While the rich get even richer, thousands of Ohioans have lost their jobs, wages remain stagnant, and working families are struggling to make ends meet. Trump and Republicans have reneged on their promise.” 

Workers have gained virtually nothing from the Republican tax scam law, but the wealthy certainly have: Large banks and corporations are pocketing big bucks while doling out huge payouts to shareholders. Billionaires are paying a lower tax rate than working class families. Even Trump’s tax cut for the poor is helping the rich.Here’s more proof that the Trump-GOP tax scam has been a boon for the wealthy and a bust for everyone else: