“Under the GOP tax plan, a New York City cop pays a higher tax rate than a billionaire private equity investor!”
This new GOP tax scam bill is a hot mess. The Republicans have written a bill that makes cops and teachers pay a higher tax rate than billionaire private equity investors and millionaire real estate moguls. This is not only wrong. It’s stupid and insane. This is literally how the last recession in 2008 happened.
On Tuesday, a Fox News host tore into the Republican tax scam. Trish Regan, with Fox Business, is furious about the bill.
“The president keeps touting this as the biggest tax cut ever. And while it’s great for corporations, and there’s nothing wrong with that, it’s also great for a lot of fat cat private equity investors, and there is something wrong with that.”
“This guy, Steve Schwarzman, who has made over $400 million in one year and percentage wise? Guess what, his tax bracket is actually lower than a New York City cop’s. How do you like that? And it’s because he called his income ‘investments.’ The president promised to fix this. Remember?”
After showing clips of Trump promising (and lying) that he would fix this problem and close special interest loopholes, the Fox host said,
“But neither the House nor Senate bothered to address this! So those private equity fat cats get away with paying investment taxes instead of income taxes. And that is just wrong! So why doesn’t anyone care?”
Regan then said,
“Who cares about a hundred billion dollars? Maybe Steve Mnuchin doesn’t care about a hundred billion dollars, or his billionaire friends, but come on! You mean to tell me that special interest lobbyists are so alive and well in Washington that they convinced the entire House and the entire Senate to ignore this inequity?”
“I’m beginning to wonder if our country is becoming ungovernable. Because I’ll tell you one thing, our founding fathers never ever anticipated a swamp like the one we have today.”
Under the GOP Tax plan a NYC Cop pays a higher tax rate than a billionaire private equity investor
This is literally how the last recession happened only in 2008. This is stupidity & insanity
Excellent analysis by @trish_regan of Fox News
— Qasim Rashid, Esq. (@MuslimIQ) December 20, 2017