A report released on July 11, by the Institute on Taxation and Economic Policy (ITEP) shows that the past three presidents have opted to send a combined $5.1 Trillion in tax cuts mostly to the nation’s richest. (That’s “Trillions” with a “T”.)
At a time when tens of millions of Americans are suffering from deprivation and poverty, the tax cuts rammed through by George W. Bush, extended in part by Barack Obama, and built upon by Trump “have mostly benefited those who are least in need of help.
Thanks in large part to President Donald Trump’s $1.5 trillion tax cut package that was signed into law last December—which will send 83 percent of its benefits to the top one percent—”the tally of tax cuts will grow to $10.6 trillion” by 2025 and “nearly $2 trillion of this amount will have gone to the richest one tenth of one percent.”
With $5.1 trillion, the U.S. government could provide healthcare for all Americans and make public colleges tuition free with cash to spare, Instead, the richest one percent received more benefits than the bottom 60 percent.
These policies have transferred trillions in wealth to those who were already rich.
Robin hood is rolling in his grave.