Countdown To Election Day: Congressman Renacci’s Massive Tax Giveaway
October 27, 2018
As the clock winds down to Election Day, we’re taking a look back at the lowlights of Congressman Jim Renacci’s Senate bid – a campaign that’s been defined by embarrassing stories, despicable lows, and complaints from Republicans that Renacci never “even picked up the towel.”
Last night on the debate stage, Congressman Renacci spent a lot of time talking about the GOP tax bill of which he brags about being “an architect.” So today, we’re taking a look at what exactly that bill does.
Continue following along over the next 10 days as we count down to the end of Congressman Renacci’s pathetic political career.
Congressman Renacci loves to brag that he was “an architect” of the tax bill that handed massive tax breaks to the wealthy, corporations, and Wall Street, while leaving hardworking families behind.
Even worse, now Renacci wants to gut Ohioans’ Social Security, Medicaid, and Medicare to pay for it.
Here’s what Congressman Renacci’s tax giveaway really did:
- Bloomberg: Republicans Promised to Cut the Deficit. It’s Only Getting Worse
- Vox: Corporate stock buybacks are booming, thanks to the Republican tax cuts
- CNBC: Companies are putting tax savings in the pockets of shareholders
- CNN: For most workers, the tax cut windfall will disappear
- Wall Street Journal: Tax Cuts Fuel Biggest Merger Spree Since 2000
- Axios: Tax cuts will save health care companies billions — but not patients
- Vox: Trump said this tax break was for small businesses. It’s giving $17 billion to millionaires this year.
- CNBC: Tax cut riches have gone to execs and investors over workers by nearly 3-to-1 margin
- Financial Times: Corporate America poised to unveil record buybacks
- USA Today: Tax cut savings flow to company stockholders, trickle to hourly workers
- Newsweek: Trump’s Tax Cuts Didn’t Benefit U.S. Workers, Made Rich Companies Richer, Analysis Finds
- Washington Post: The richest Americans get a $33,000 tax break under the GOP tax law. The poorest get $40.
- Los Angeles Times: GOP tax overhaul prompts drugmakers to buy back shares at highest rate in at least a decade
- Vox: Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders
- CNN Money: New report highlights massive pay gap between CEOs and typical workers
- TIME: Here’s How America’s Biggest Companies Are Spending Their Trump Tax Cuts (It’s Not on New Jobs)
- Bloomberg: Record Buybacks Put Shareholder Payouts on Pace for $1 Trillion
- NBC News: What did corporate America do with that tax break? Buy record amounts of its own stock
- Reuters: How U.S. tax reform rewards companies that shift profit to tax havens
- Vox: How the Republican tax cuts are failing workers, in one chart
- Politico: ‘Eye-Popping’ Payouts For CEOs Follow Trump’s Tax Cuts
- CBS News: Worker wages drop while companies spend billions to boost stocks
- CNN: Tax cut triggers $437 billion explosion of stock buybacks
- Huffington Post: Trump’s Tax Cuts Law To Disproportionately Affect Minorities
- New York Magazine: The Trump Tax Cuts Keep Getting Worse for the Deficit — and Better for the Rich
- The Hill: Federal deficit jumps 20 percent after tax cuts, spending bill
- Wall Street Journal: Treasury Plans to Boost Borrowing as Trillion-Dollar Deficits Loom