Thread by @rebeccavallas

House GOP dropped their tax bill today and boy are the media headlines missing the mark. /1

GOP is selling it as a big middle class tax cut – when it’s actually Christmas come early for corporations & the ultra-rich.
/2

The biggest winners are corporations, who’ll see their tax rate drop massively from 35% to 20%. /3

The GOP’s claim that this will create jobs is arguably one of the biggest economic lies in history, full stop. /4

Also huge winners: the ultra-rich. Just one example: estate tax repealed after 5 years--a tax that hits just the richest 0.2% of estates /5

Trump himself would win big thanks to the giant new loophole it creates for so-called “pass-through” income... /6

(pass-through loophole translated: another gimmick to cut taxes for the wealthy under the guise of helping “small business”) /7

Of course we’d know a lot more about how Trump would benefit under the GOP's plan if he’d release his tax returns.... /8

So, what’s in it for working & middle class families? A ticking time bomb – as many of the benefits to them would sunset after 5 years. /9

Meanwhile the GOP would REPEAL a score of tax benefits that help working and middle class families, such as… /10

-The medical expense deduction
-The adoption tax credit
-Deductions for tuition & student loan interest

All gone under GOP tax plan. /11

It would even eliminate the New Market Tax Credit, which incents job-creating investments in rural and urban areas. /12

(So much for Trump's forgotten man & woman...) /13

The plan includes virtually NOTHING for the bottom 35% of taxpayers—and could even end up raising their taxes.

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And we’re not done yet, folks. Guess how Christmas come early for the wealthy & corporations would be paid for? Jacking up the deficit. /15

(That’s right, the deficit Republicans have claimed—for ages—to hate.) /16

And what happens next? They’ll turn around & yell about the deficit! And how we “can’t afford” Medicaid, Medicare, education, and so on. /17

Don’t take my word for it: THEY TOLD US EXACTLY WHAT THEY'D CUT IN THEIR BUDGETS. They're not even hiding the ball. /18

In the coming days, House Republicans will mark up and eventually vote on this tax bill. (That's where you come in.) /19

We can't let them get away with claiming they're helping the middle class when it’s Christmas come early for corporations & the rich. /20

Some Repubs are already afraid their tax bill will face the same fate as botched ACA repeal. So now's the time to dial up the pressure. /21

And like with healthcare, we CAN win this fight and shut down their Robin Hood in reverse agenda. /22

RT & share: Everything you need to tell Congress #NotOnePenny in tax cuts for the rich & corporations: trumptaxtoolkit.org /23