Trump tax cut: Individuals paid $93 billion more, corporations paid $91 billion less

Who won the #GOPTaxScam?

Big corporations got $91 billion.

Who lost?

Individuals paid $93 billion more in taxes.

Still think that income inequality can't be fixed by the government?

All it takes is 50 Senators and the presidency.#FridayThoughts https://t.co/sok5wbqq1a
— Grant Stern (@grantstern) July 19, 2019

When Republicans take on “cosmopolitan elites” they mean being cruel to refugees and asylum-seekers while showering foreign shareholders with tax breaks. https://t.co/IOqr3ofg45
— Matthew Yglesias (@mattyglesias) July 20, 2019

Blue states subsidize red states

Blue states were already subsidizing red states before Trump’s vindictive tax cuts that punished states that didn’t vote for him. Now NY, NJ, and CT are suing IRS for blocking a workaround to the $10,000 limit on state/local tax deductions.

The tax cuts could also further penalize blue states by causing people to move from them.

NJ, NY, and CT sued @stevenmnuchin1 and the IRS this morning over a new rule blocking a workaround to the $10,000 cap on SALT deductions. @CNBC got the first interview with NJ's @GovMurphy, he told us the new IRS rule is "dead wrong." pic.twitter.com/yPaMGnDTpb
— Power Lunch (@PowerLunch) July 17, 2019

"In 2017, Kentucky received $40 billion more from the federal government than it paid in taxes. That’s about one-fifth of the state’s G.D.P.; if Kentucky were a country, we’d say that it was receiving foreign aid on an almost inconceivable scale."https://t.co/EUULmuRu1E
— Alec MacGillis (@AlecMacGillis) July 2, 2019

Do you think it's wrong for the rich to help subsidize the poor? Someone tell Mitch McConnell's constituents in Kentucky, who effectively receive huge aid from rich blue states https://t.co/6ZsbxpJL5m
— Paul Krugman (@paulkrugman) July 1, 2019

Next time someone from one of these green states tries to claim immigrants don’t pay taxes, tell them that the biggest beneficiaries of government money are citizens of Kentucky and other states where Fox News is popular. Tell them to thank a New Yorker for their handouts. https://t.co/NHBS9OVUFk
— Walter Shaub (@waltshaub) June 30, 2019

These two states had the biggest economic gains from Americans’ migrations, according to a @Bloomberg analysis of state-to-state moves… https://t.co/BQaClU1Wir
— PPG (@ppg_perry) May 31, 2019

Migration’s Biggest Loser Is Connecticut as Florida Profits – Bloomberg ⁦@rolandlemar⁩ https://t.co/DVRHTXSSU5
— MickTheQuickFan (@JMRivers17) May 24, 2019

Because homeless people in red states move to blue states. Maybe red states should start picking up some of the burden.https://t.co/ZbNmJfgMGD
— Tyson White (@TysonJWhite) June 1, 2019

Not only that, the liberal-leaning people who may be fleeing blue New York because of SALT and moving to purple states won’t henceforth be helping Republicans win the Electoral College. Don’t understand why people haven’t thought about this. https://t.co/UvFk7knQ14
— George Conway (@gtconway3d) April 29, 2019

For every $1 in taxes states send to the federal gov't, here's how much they get back:

Kentucky $2.82
New Mexico $2.48
West Va $2.35
Virginia $2.28
Miss. $2.22
Alabama $2.18
Alaska $2.16https://t.co/WaHzOK0Yg9 via @andrewvandam pic.twitter.com/ttyF7SBQ0B
— Heather Long (@byHeatherLong) July 10, 2023

Republican tax policy failed in Kansas

This should serve as a lesson for the whole country. Republican tax cuts do not improve the economy, they just increase the deficit.

Kansas has now tested GOP tax orthodoxy twice. First it slashed taxes, promising an economic miracle; all it got was a huge deficit. Then it revoked the tax cuts, which the right says should have been a disaster; instead, the budget is back in surplus 1/ https://t.co/C0aLj6LavA
— Paul Krugman (@paulkrugman) July 11, 2019

Kansas raises taxes and its economy booms–the exact opposite of what Art Laffer, Steve Moore and other right-wing economists predicted. https://t.co/PdQRGzbDWN
— Bruce Bartlett (@BruceBartlett) July 10, 2019

Tax update 6/22/19

Corporate taxes are the lowest in more than 50 years

More evidence that the Trump tax cut was a scam to help businesses and wealthy people.

This is what happens when you think corporations are people, let them into politics, give them unlimited power, and jam through tax laws written by their lobbyists.https://t.co/znAneDGToO
— Sheldon Whitehouse (@SenWhitehouse) June 14, 2019

I’m pretty sure the next step in this game is that we’re going to be told lots and lots of programs that actually benefit people will need to be cut because we can’t afford them. https://t.co/tO8aiJlZnN
— aderson francois 🇭🇹 14th Amendment Baby (@abfrancois) June 15, 2019

Republican Rep. Kevin Brady, a lead architect of the GOP tax bill, suggested today that the tax cuts may not fully pay for themselves, contradicting a promise Republicans made repeatedly while pushing the law in late 2017. https://t.co/1Xf9wiwwOA
— Kyle Griffin (@kylegriffin1) June 11, 2019

Trump’s trade wars hurt farmers

Trump’s trade policy is hurting farmers. Trump lies about the estate tax changes. They won’t help many farmers. He has told this lie many times.

Stung by Trump’s Trade Wars, Wisconsin’s Milk Farmers Face Extinction https://t.co/QoGkV30jJy
— Catherine Rampell (@crampell) April 27, 2019

This is so perfect.

Trump's trade war is hurting many farmers, yet when Trump claimed repeal of the estate tax will help farmers, his rally crowd cheered.

Peel back one layer of the Trump scam, and there's another lying beneath it.https://t.co/mx9XrtsenE pic.twitter.com/EYuYmL1aDh
— Greg Sargent (@ThePlumLineGS) April 28, 2019

Trump is now saying that the repeal of the estate tax will save family farms in a state where his trade policies are killing dairy farmers.
Everybody cheer!
(They cheer)
— Charles P. Pierce (@CharlesPPierce) April 28, 2019

Trump lies, "We have virtually eliminated the estate tax." He merely raised the threshold at which it has to be paid, didn't eliminate it. As always, he also misleadingly suggests the estate tax was a particular burden for family farmers, almost none of whom paid it.
— Daniel Dale (@ddale8) January 14, 2019

The tweets from Daniel Dale are from prior times he has lied about this.

Trump again says he's cut the estate tax "for the farmers." Again: less than 1% of people paying the estate tax are farmers.
— Daniel Dale (@ddale8) December 20, 2017

Trump is, as always, highly misleading about the estate tax, saying farmers can now happily leave their farms to their children. Per the Tax Policy Center, a mere 80 farms and small businesses were among the 5,460 estates likely to pay the estate tax in 2017, before Trump's law.
— Daniel Dale (@ddale8) July 5, 2018

Trump: Ending the estate tax would "protect millions of small businesses and the American farmer." Pants on Firehttps://t.co/sUQh1s7qJT pic.twitter.com/pnMv0j0Uq9
— PolitiFact (@PolitiFact) December 20, 2017

Trump called the estate tax a ‘tremendous burden’ on family farmers. Here’s the truth.

Top tax frustrations

The Trump tax cut helped corporations and rich people. This is not what the people want.

Tax day fast approaching. Far more Americans are bothered 'a lot' by some corporation/wealthy people not paying their fair share than by what they pay in taxes.https://t.co/3syKnW0vo5 pic.twitter.com/syKWWMSVvj
— Carroll Doherty (@CarrollDoherty) April 12, 2019

Tax update 3/27/19

More bad news on the Trump tax law that primarily helped rich people and corporations:

Trump said that tax reform would cause $4 trillion in offshore cash to be repatriated.

The numbers are out: Only $664.9 billion came back.https://t.co/hjEbhxZxmt
— Joe Weisenthal (@TheStalwart) March 27, 2019

Trump's own economists now agree: GOP tax cuts are failing to spark growth https://t.co/TTc0KTm8IQ
— Salon (@Salon) March 21, 2019

That's because it was a scam designed to overwhelmingly benefit wealthy people and corporations shipping jobs overseas. #GOPTaxScam https://t.co/gYepC3vD7F
— Nancy Pelosi (@TeamPelosi) March 21, 2019

I got a fever, and the only prescription is more tax cuts https://t.co/SRahdxhzJA
— Catherine Rampell (@crampell) March 19, 2019

The goal of Trump and Republicans in Congress was never to actually grow the economy or boost wages. Trickle-down economics is nothing more than a cruel joke designed to enrich their wealthy campaign donors and corporations. https://t.co/Dr1bIWIE4U
— Robert Reich (@RBReich) March 19, 2019

It isn’t even a hypothetical: the GOP tax bill is failing to pay for itself NOW.

Deficits are exploding.

The “tax cuts for the rich will pay for themselves” line wasn’t true in 2017, it isn’t true never true now, and it will never be true. https://t.co/8LhMRSzYSD
— Rep. Don Beyer (@RepDonBeyer) March 14, 2019

So what? She voted against the fucking tax law. https://t.co/5JMWJiNHrr
— Ian Millhiser (@imillhiser) March 27, 2019

The IRS is auditing EITC recipients instead of high earners

Because of pressure from Manafort's party, the IRS devotes 36% of its audit resources chasing EITC recipients who typically earn about 20K per year and account for a fraction of income tax evasion. Reduces chances that the Manafort's of the world are ever captured. https://t.co/GN9rF5y1lt
— Don Moynihan (@donmoyn) March 8, 2019

Tax update 3/13/19

Hey, where's that tax cut driven investment boom? Order for new capital goods are going down. I suppose no one took Trump claims seriously, otherwise this would be big news. pic.twitter.com/ucVUgdtIps
— Dean Baker (@DeanBaker13) March 13, 2019

PSA: Despite the president’s claims, undocumented immigrants pay taxes. Get the data below. https://t.co/pj4m4oy5a6
— The Beat (@thebeatdc) March 9, 2019

I keep hearing Republicans in Congress blame Social Security, Medicare and Medicaid for the growing federal debt. Rubbish. Tax cuts for the wealthy and corporations are causing deficits to soar, not social spending. pic.twitter.com/EiRtY8hYB9
— Robert Reich (@RBReich) March 11, 2019