GOP tax plans are a massive transfer of wealth to billionaires, corporations, and Wall Street, but leave millions of middle-class families paying more
GOP tax plans are funded by gutting Medicare and Medicaid
MADISON — Right-wing state Senator Leah Vukmir and out-of-state billionaire puppet Kevin Nicholson have officially endorsed U.S. House and Senate Republicans’ efforts to gift massive tax cuts to corporations and billionaires — cuts paid for by raising taxes on middle-income families and gutting Medicare and Medicaid.
Here’s a look at the Republican plans that Vukmir and Nicholson endorsed:
- Millions of middle-class families would pay more in taxes under both plans.
- Both plans slash tax rates for corporations.
- Eliminating the SALT deduction, as the Senate GOP does, would hike taxes on 31% of Wisconsin taxpayers.
- Neither GOP tax plan closes the carried interest loophole — a loophole that Wall Street bankers exploit to avoid paying their fair share in taxes.
- The GOP tax plans are paid for by gutting Medicare and Medicaid.
Statement from Brad Bainum, Democratic Party of Wisconsin spokesperson for the 2018 Senate race:
“Far from being tax reform for working families, the GOP tax agenda endorsed by Leah Vukmir and Kevin Nicholson actually raises taxes on millions of middle-income families — all so Republicans can slash Medicare and Medicaid while gifting big tax cuts to corporate special interest CEOs and billionaires like the right-wing megadonors bankrolling Vukmir and Nicholson.”