search
Sections List
American Journal News

"Our point is for corporations to pay less." GOP rep admits real reason for tax scam

The horrendous tax scheme that Republicans rammed through the Senate in the early hours of Saturday morning — with no debate and a pile of scribbled revisions added in the margins — is an absolute mess. It explodes the deficit, raises taxes on most workers, and would rip health insurance from 13 million people. The GOP […]

By Matthew Chapman - December 04, 2017
Share
Chris Stewart
Utah Rep. Chris Stewart

The horrendous tax scheme that Republicans rammed through the Senate in the early hours of Saturday morning — with no debate and a pile of scribbled revisions added in the margins — is an absolute mess.

It explodes the deficit, raises taxes on most workers, and would rip health insurance from 13 million people.

The GOP has sold this bill as relief for the middle class, and a way to simply close “loopholes” in the corporate tax code. But that facade was dropped almost the second the bill passed, when Senate Majority Leader Mitch McConnell said on Sunday that it was “impossible” to guarantee a tax cut for everyone in the middle class.

And on MSNBC Monday, GOP Rep. Chris Stewart of Utah finally revealed the game in conversation with Stephanie Ruhle and Ali Velshi — who demanded to know what loopholes the bill closed:

RUHLE: What simplication, what loophole, is being closed specifically for corporate America? I agree with you — our tax rate is too high, and it’s too complicated. Let’s lower it and close the loopholes. What loopholes for corporations are going to be closed?

STEWART: Oh my gosh, there will be dozens. But I’m talking primarily —

RUHLE: Like what? Excuse me, sir, please tell me one.

STEWART: With interest deductions, with expensing accounts, there’s all sorts of deductions and loopholes. But primarily —

RUHLE: Just tell me one. One — one example of a loophole that’s being closed.

STEWART: I just did. But —

RUHLE: You didn’t.

STEWART: — primarily we’re focused on those loopholes for individuals and simplifying for individuals. I’m not arguing —

RUHLE: Then why wouldn’t you be — hold on, why — sir, let me finish my point. Why wouldn’t we close a loophole for corporates? The argument was, you have to lower the tax rate and get rid of all these loopholes that they go through.

VELSHI: And you broaden the base so that everybody pays a lower rate.

RUHLE: So what loopholes are being closed for corporates, because if you don’t close any loopholes, you’re going to lower the base and keep the loopholes so they’ll end paying even less. Please give me an example of one.

STEWART: That’s our point. For corporations to pay less. That’s the point.

And there it is. Republicans want this bill to enrich their donors. They could not care less whether it helps the middle class.

And some of them, like Stewart, have apparently given up even trying to hide what the bill does, and are openly bragging about the damage it will inflict on the vast majority of Americans.


AJ News
Get the latest news here first.

Tai News

Newsletter
Read More
 Republicans choose violence in bonkers day on Capitol Hill

 Republicans choose violence in bonkers day on Capitol Hill

By Jesse Valentine - November 16, 2023
Is 2024 the year of the Instagram moms?

Is 2024 the year of the Instagram moms?

By Amanda Becker, The 19th - November 15, 2023
U.S. Department of Justice to join suit against Alabama AG’s abortion prosecution threats

U.S. Department of Justice to join suit against Alabama AG’s abortion prosecution threats

By Alander Rocha - November 10, 2023
Top Republican Senate candidates are endorsed by foes of Social Security and Medicare

Top Republican Senate candidates are endorsed by foes of Social Security and Medicare

By Jesse Valentine - November 08, 2023
Most Americans want health exceptions in abortion bans. Political infighting keeps blocking them.

Most Americans want health exceptions in abortion bans. Political infighting keeps blocking them.

By Kelcie Moseley-Morris - November 07, 2023
Possible 2024 Wisconsin Senate candidate repeatedly predicted recessions that never happened

Possible 2024 Wisconsin Senate candidate repeatedly predicted recessions that never happened

By Jesse Valentine - November 02, 2023
AJ News
Latest
Texas governor and attorney general do little to curb state’s chemical plant crisis

Texas governor and attorney general do little to curb state’s chemical plant crisis

By Jesse Valentine - December 08, 2023
Likely GOP Senate candidate Eric Hovde proposed tax hike for poorer workers and retirees

Likely GOP Senate candidate Eric Hovde proposed tax hike for poorer workers and retirees

By Jesse Valentine - December 07, 2023
Whitmer signs specific criminal penalties for assaulting health care workers into law

Whitmer signs specific criminal penalties for assaulting health care workers into law

By Anna Liz Nichols, Michigan Advance - December 06, 2023
105 Republicans voted to expel Santos for things Trump has also done

105 Republicans voted to expel Santos for things Trump has also done

By Jesse Valentine - December 05, 2023
For Texas Sen. Ted Cruz, another Trump term is another chance to kill Obamacare

For Texas Sen. Ted Cruz, another Trump term is another chance to kill Obamacare

By Jesse Valentine - December 04, 2023
Florida Sen. Rick Scott backs Donald Trump in revived push to repeal Obamacare

Florida Sen. Rick Scott backs Donald Trump in revived push to repeal Obamacare

By Jesse Valentine - November 30, 2023
Tate Reeves took donations from power company that hiked customer rates

Tate Reeves took donations from power company that hiked customer rates

By Jesse Valentine - November 06, 2023
Daniel Cameron ran on depoliticizing the Kentucky AG’s office. He made it more political.

Daniel Cameron ran on depoliticizing the Kentucky AG’s office. He made it more political.

By Jesse Valentine - November 03, 2023
Republican operatives sound every alarm on current trajectory of 2023 governor’s race

Republican operatives sound every alarm on current trajectory of 2023 governor’s race

By Adam Ganucheau, Mississippi Today - October 24, 2023
Wisconsin’s fake electors settle lawsuit, acknowledge Biden won in 2020

Wisconsin’s fake electors settle lawsuit, acknowledge Biden won in 2020

By Henry Redman, Wisconsin Examiner - December 06, 2023
NH Supreme Court closes door on partisan gerrymandering cases, taking lead from SCOTUS

NH Supreme Court closes door on partisan gerrymandering cases, taking lead from SCOTUS

By Ethan DeWitt, New Hampshire Bulletin - December 05, 2023
Missouri abortion-rights amendments face ‘torturous’ process to make it to 2024 ballot

Missouri abortion-rights amendments face ‘torturous’ process to make it to 2024 ballot

By Anna Spoerre, Kansas City Star - December 05, 2023