If you had any doubt about who really stands to benefit from the Republican tax cuts, Axios has an answer from the 45Committee, the non-profit arm of Future 45, a PAC whose biggest donor is billionaire casino magnate Sheldon Adelson.
One of the biggest pro-Trump outside groups of 2016, backed by the Adelson and Ricketts families, plans to spend "eight figures" — at least $10 million — backing tax reform. The 45Committee is launching "The Middle Class Project," a 501(c)(4) with an opening TV spot, "What's In It For You," that will debut nationally with tomorrow's bill introduction.
And get this—the ad narration begins with, "What's in it for you? The Republican tax cut saves middle-class families more than $1,200 a year."
Gosh, where will you spend it? Trump’s top lieutenants are pretty excited about all you can do with an extra thousand in your pocket. Remember Trump economic adviser Gary Cohn dropping into the White House briefing room to ponder the new car you could buy with that ... at the junkyard.
Billionaire Adelson is suddenly pretty excited for that middle-class windfall too.
To be clear, Republicans still haven’t even unveiled their tax bill ‘cuz they’re fighting over the details, but here’s what the nonpartisan Tax Policy Center had to say about the plan they were floating earlier this month.
The highest income taxpayers (0.1 percent of the population, or those with incomes over $3.7 million in 2016 dollars) would experience an average tax cut of nearly $1.1million, over 14 percent of after-tax income. Households in the middle fifth of the income distribution would receive an average tax cut of $1,010, or 1.8 percent of after-tax income, while the poorest fifth of households would see their taxes go down an average of $110, or 0.8 percent of their after-tax income.
Take action: The Republican tax plan overwhelmingly benefits the rich and abandons homeowners, schools, fire departments, vital services like rebuilding roads, bridges, and water and electric systems and more. Call your House member at (202) 224-3121, and tell them to oppose the Republican tax bill.