In 2017, Congress passed a $2 trillion tax cut where $.83 of every dollar went to the very top earners and richest corporations. The tax cut will never pay for itself. 🧵

Jun 20, 2023 · 7:36 AM UTC

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The money was not and is not used to reinvest or to create jobs. It goes to stock dividends and stock buybacks. Companies that already make billions of dollars in profit are then handed more billions by the taxpayers.
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When Biden took office and had a Democratic House and Senate, there was never a mention of repealing that tax cut. (The middle-class part of the tax cut was good. The tax cuts to the very wealthy should have been repealed, the middle class cuts should have been immediately put back in.)
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Our system is a little more than a giveaway to the rich at the expense of the poor. And status quo will not disrupt itself.
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Replying to @marwilliamson
You truly don’t understand how this works Marianne. People give their money to government, under threat of force. If the government reduces a tax, that government is not giving money to its citizens, it is simply taking less. Government never gives money to people who pay taxes.
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Replying to @marwilliamson
You will never be president!
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Replying to @marwilliamson
It's their money NOT YOURS!
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Replying to @marwilliamson
Tax Cut, pay for itself?? Spoken like a True Communist, only in the mind of a Communist, is letting People Keep Their Own Money is considered a COST
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Replying to @marwilliamson
You failed to specify that it was the Republicans that did that, but keep on trying to obfuscate.
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Replying to @marwilliamson
When we talk about tax policy “paying for” itself we’re exposed for not understanding public finance. Govt spends $$ into existence and taxes some of it out. Tax “revenue” is not the govt’s source of funding. It is the currency issuer and is essentially self-funded.
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Replying to @marwilliamson
Less than half of Americans pay Federal Income Taxes...
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