We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Corporate welfare state: GOP tax plan showers millionaires with $17 billion tax break

1 0 0
24.04.2018

Getty

The biggest winners of the Republican tax plan are — surprise, surprise — the richest earners in the country.

In news that should surprise nobody, the Joint Committee on Taxation report released on Monday showed that the wealthiest earners in America will rake in more cash and reap the majority of the benefits in 2018 as a result of the tax plan passed last December.

The overhaul to the nation's tax code, which was led by the Trump administration and Congressional Republicans, included a deduction that ranges up to 20 percent for "pass-through" businesses. As The New York Times explained:

While “pass-throughs” is a term often used to refer to small businesses, a Treasury Department analysis found that many are not actually businesses........

© Salon