If you’re expecting a gift card from your boss as an end-of-year bonus, enjoy it this year because you probably won’t get one in 2018.
The Senate tax bill would ban such rewards. Why? Republican lawmakers are determined to prevent ordinary workers from pocketing a $25 or $50 gift card without reporting it as taxable income.
Meanwhile, these same politicians are planning to dole out billions of dollars in tax breaks to the very wealthiest Americans. For example, they’re planning to gut or entirely eliminate the estate tax, a curb on extreme wealth concentration that currently applies only to fortunes worth more than $11 million per couple.
Republican Senator Chuck Grassley explained the reasoning: “Not having the estate tax recognizes the people that are investing, as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”
Republicans are using this prejudice against working people to justify a massive giveaway to wealthy political donors. While giving the rich and big corporations huge tax breaks, the Republican tax plan would raise taxes on 87 million middle-class families, throw 13 million people off health insurance, and cut Medicare by $400 billion.
This moral abomination is already igniting a firestorm across the country. Over the past two weeks, protests have erupted at 50 universities and in least 100 cities, while nearly 50 people have been arrested on Capitol Hill.
And whether or not President Trump achieves his goal of signing this tax deal into law by the end of the year, this fight is just beginning.
On December 4, prominent faith leaders announced plans for one of the largest waves of civil disobedience in US history. Dubbed the “Poor People’s Campaign: A National Call for Moral Revival,” this effort will mark the 50th anniversary of a similar initiative in 1968 that was undercut by the assassination of Dr. Martin Luther King.
The campaign co-chairs, the Rev. Liz Theoharis and the Rev. Dr. William J….