Majority Leader Mitch McConnell
Although the Tax Cuts and Jobs Act of 2017 did precious little to reduce the tax burden of middle-class Americans, it has been great for millionaires. And according to Peter Cary of the Center for Public Integrity, that includes many of the Republican senators and House members who rammed it through Congress.
Discussing the Center’s analysis of the 2017 law in an article for Vox this week, Cary explains: “Cutting tax rates for companies like Apple and hundreds of other stocks they own was one of many ways Republican lawmakers enriched themselves after they passed the tax law…. Democrats also stood to gain from the tax bill, though not one voted for it. All but 12 Republicans voted for the tax bill.”
After the Tax Cuts and Jobs Act was passed, Cary explains, stock shares increased in price. Dividends were raised — and many of the Republicans in Congress who voted for the law just happened to own stock in the companies that paid higher dividends.
This article is spot on, and it does truly apply to both sides of the isle. And it screams loudly about why we need term limits (short ones) at every elected level. They all get way too cozy there, forget who they work for and over time feel entitled! Frequent turnover would solve this problem very quickly!
I agree with you Tom N, about the term limits. I wonder when the last time a poor person ever got elected to any office. Maybe it was Abe Lincoln who was an avid reader which is what gave him his ability to speak in public and make his way to be a very good president. it would be nice to have public elections which were sponsored by the government and paid for by the government instead of “Citizens United” which allowed the Oligarchs to completely take over. I would to see poor people in the House and Senate to get their opinions expressed and get the government to observe what other people think and experience.