Republicans Let The Truth Slip Out About Their Tax Plans

For a long time now, Republicans have repeatedly lied to the American people to try and sell a tax plan that would benefit millionaires, billionaires and big corporations at the expense of pretty much everyone else. But now some Republicans are letting the truth slip out about how bad their tax plans actually are.

Republicans admit they decided to take health care from 13 million Americans and raise premiums by double-digits because they wanted to keep the corporate tax rate as low as they could.

Politico: “But Republicans argue it this way: It actually smooths passage for tax reform by giving them a pot of cash to play with for popular tax breaks. One GOP senator said Republicans might have had to set the corporate rate at higher than 20 percent if not for the savings from the mandate.”

CEA Chair Kevin Hassett: “Well, again, the President has made it clear that he has got a few objectives that are not negotiable. One is the 20 percent rate. And this is regular order, this is the normal process. You don't have to have it become law before you get to read the bill. You know, they're arguing about stuff like the individual mandate.” [Intelligence Report, Fox Business, 11/14/17]

Vox: “Senate Republicans are cutting health care to pay for a corporate tax cut

The process Republicans have use to try and force through their tax plan is “not a real good process.” Obviously.

CNBC: “’In the current form, I wouldn't vote for it,’ Johnson reiterated on ‘Squawk Box.’ He serves on the on Budget, Foreign Relations, and Commerce committees. He's also chairman of the Homeland Security Committee. ‘It's not a real good process,’ the Wisconsin lawmaker said.”

New York Times: “Regardless, it was clear that Mr. Corker was underwhelmed by the way his party has moved on the tax overhaul — and he may not be alone. ‘Look, it’s not a good process,’ he said. ‘And I think we certainly could come up with a better process if we took a longer period of time to make it happen.’”

Combining the Republican tax plan with a repeal of the individual mandate would, in fact, hurt middle-class Americans.

Reuters: “Senator Susan Collins is back in the spotlight as a crucial swing vote in the U.S. Senate as she raises questions about how combining a Republican tax-cut plan with a partial repeal of Obamacare will affect middle-class Americans.”

Even House conservatives don’t believe Republican talking points on tax cuts for middle-class families, and say they are “over-promising.”

Huffington Post: “On Wednesday night, conservatives circled up with Majority Whip Steve Scalise (R-La.) on the House floor to discuss a key GOP talking point that conservatives don’t buy: that the average family of four will save $1,182 on their taxes. Conservatives including Reps. Thomas Massie (Ky.), Raul Labrador (Idaho), Scott Perry (Pa.), Justin Amash (Mich.) and Jim Jordan (Ohio) all huddled with Scalise and an aide to discuss the flaws in that calculation, with a number of conservatives suddenly concerned they might be ‘over-promising and under-delivering,’ according to a member involved in the discussion.”

Huffington Post: “There’s going to be a lot of disappointed people when they look at their tax bill,” one GOP member involved in discussions told HuffPost. “They’re going to think they got screwed.”

The Republican plan would incentivize companies to move jobs overseas

Wall Street Journal: “The Republican plan would switch to a territorial system, in which companies are taxed where their income is earned, from a world-wide system, in which taxes on global profits are owed in the U.S. and companies can avoid the U.S. share of those taxes by stockpiling profits overseas. ‘With a territorial system, there will be a real incentive to keep manufacturing overseas,’ Mr. Johnson said.”

The White House admitted they were desperate for a win, and willing to pass almost anything as long as they got a massive corporate tax giveaway

Pittsburgh Post-Gazette: “And the details don’t much matter to the administration, said Budget Director Mick Mulvaney in Washginton, as long at the end result reduces individual through a simpler revenue code and cuts corporate taxes to a rate not exceeding 20 percent. In Columbus, U.S. Treasury Secretary Steven Mnuchin had the same message in an address to the Ohio Council of Retail Merchants.  ‘As long as those two things are preserved, we’re likely to support anything’ that Congress can pass, Mr. Mulvaney told a small group of reporters at the White House Tuesday.”