The Abominable House and Senate Tax Cut Bills

Read more on this subject: TAXES: Federal
Feature Article by Stephen Lendman
The Abominable House and Senate Tax Cut Bills

by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)

It's worse than you think. The final version following House and Senate reconciliation will show the full extent of harm done to ordinary Americans – so corporate predators and super-rich ones benefit hugely at their expense.

A congressional assault on Medicare, Medicaid and likely Social Security will follow to help defray part of cost.

Millions will lose health insurance. Ending the individual mandate assures higher premiums.

Most wealthy US households will pay no estate taxes. The estates of fewer than 0.1% of super-rich ones will pay it above a higher threshold level.

Trump and other other wealthy Americans will save millions of dollars in taxes by elimination of the alternative minimum tax (ATM).

Corporate predators will use their windfall for increased stock buybacks, along with financing mergers and acquisitions, not
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