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by Patriotic Millionaires | Updated on 8.2.18

Voters believe our economy is “rigged.” They believe that the richest people in the country are capturing all the benefits of the economy while the basic needs of normal Americans are ignored by corrupt politicians. Guess what? They’re right.

So how do you rig an economy? You start with the tax code. 

Last year on a part line vote, Republican politicians in Washington rewrote the entire federal tax code. With full control of the federal government, they created the tax system their donors demanded – one that systematically and deliberately advances the interests of the political donor class while disadvantaging working Americans and the middle class. Our new tax code isn’t based on any coherent economic philosophy, it’s nothing more than a payoff to the donor class.

And if anyone would know that, it’s members of the donor class themselves, people who have an up-close and personal view of the transaction.

Luckily, there are a few members of the donor class who find this whole process as revolting as the rest of us do – and they’re willing to do something about it.

This week, the Patriotic Millionaires announced that for the first time ever, they will be endorsing candidates – specifically challengers running against incumbents who voted for that obscenity of a tax bill.

We also launched Patriotic Millionaires University (PMU) to train candidates on how to run, and win, against the GOP tax plan.

While the site is designed for candidates, anyone looking for a smart (but actually understandable) explanation of the specifics of just how every non-millionaire in America just got screwed should also take a look. Poke around for a few minutes and you will get pissed off enough to let those fuckers in Washington really have it.

As a little taste, here are just a fewof the ways this tax bill screws you and your family:

  • With the difference between standard income and capital gains tax rates, people who sit around earning money from their investments are guaranteed to pay a lower tax rate than people who actually work for a living. If you earn a salary of $77,000, you pay about $6,000 in federal income taxes. If someone else sits on a beach all day sipping daquiris while they earn $77,000 in investment income, they pay $0. Even people earning millions of dollars in capital gains each year pay a lower tax rate than most people in the middle class.
  • The GOP tax bill will cost the US about $1.9 trillion over the next decade, with the vast majority of that money going straight into the pockets of millionaires, billionaires, and corporations. That’s money that could have been spent repairing our aging infrastructure, improving our schools, providing comprehensive and affordable healthcare for every single American, or really anything else more productive than tax cuts for the rich. 
  • The deficit created by this bill is already being used by Republicans to justify massive, trillion-dollar cuts to Medicare, Medicaid, SNAP, CHIP, and dozens of other programs that millions of Americans rely on.
  • The new GOP tax code allows wealthy heirs to inherit up to $22.4 million completely tax free without paying a cent in estate tax. 
  • The GOP tax bill repealed the Obamacare individual mandate, a move that will cause healthcare premiums to rise by at least 10% and will kick about 13 million Americans off their insurance by 2027. Experts estimate that this loss of insurance will cause up to 10,000 people to die each year.
  • Our new tax code now actually rewards corporations for moving American jobs overseas. The more tangible assets (think factories or other production facilities) a company has in other countries, the lower tax rate they have to pay on foreign profits. The United States government is now in the business of subsidizing corporate offshoring.

So let’s summarize. Their tax bill makes you more likely to lose your job, more likely to lose access to healthcare, and more likely die. Even if you’re lucky enough to avoid all of those, you’re still going to be paying more of your paycheck in taxes than some trust fund baby who did nothing to earn their money besides being born into the right family. 

This bill is, putting it mildly, a piece of garbage. It gives trillions of dollars to the wealthy while sticking middle class Americans with the bill, and further rigs the economy against working Americans. Any so-called “public servant” who voted for this sorry excuse of a bill should be hurled out of office this November. 

If you want to help kick them out, visit Patriotic Millionaires University.

Patriotic Millionaires

Written by Patriotic Millionaires

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