Here’s the reality of the GOP’s tax bill

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Here’s the reality of the GOP’s tax bill

GOP leaders have made a lot of claims about their tax scam. As they were rushing to pass the bill, they promised it would help working families get ahead, because profits at the top would make their way down to workers.

But this was always a scam aimed at benefiting the wealthiest 1%, and that’s exactly what it’s done. Here’s the reality for millions of Americans:

The bill disproportionately benefits the wealthy few

Thanks in part to the GOP tax scam, CEOs for the 350 largest U.S. companies earned an average pay of $18.9 million in 2017, a 17% increase from the previous year.

Through stock buybacks, the GOP’s bill has allowed corporations to reward its own shareholders and investors to the tune of billions of dollars. For context, the wealthiest 10% of Americans own 80% of all stock shares, while the bottom 80% of earners own just 8%.

The bill doesn’t help workers get ahead

While the wealthiest 1% are reaping record profits, workers aren’t seeing the same benefits.

CEOs are making 312 times more than typical workers.

On top of that, recent reports show that U.S. average hourly earnings (adjusted for inflation) fell 0.2% in July from a year earlier, hitting the lowest reading since 2012.

The bill isn’t leading to wealth “trickling down” from the top

Before passing the bill, President Trump and the GOP claimed the legislation would help everyone, because wealth would “trickle down” from the few at the top.

It turns out that money hasn’t been put towards paying workers more or improving work conditions. It’s going to shareholders.

On top of that, Republicans’ efforts to sabotage the Affordable Care Act, the ongoing pension crisis, and this administration’s attempts to limit workers’ rights have made it that much harder for workers to get the benefits they deserve.

As long as the bill has been around, Sherrod has been raising his voice against it.

We need legislation that helps all Americans—not just those on Wall Street, or those at the top of a corporation—succeed.

If you agree, show your support for Sherrod right now: