GOP-Trump Tax Plan: A Windfall for Top 1% of Pennsylvania, a Tax Increase for Many Middle-Class Pennsylvanians

  A 50-state analysis of the GOP tax framework reveals that in Pennsylvania, the top 1 percent of taxpayers would receive a substantial tax cut worth $67,970 while many upper-middle-class Pennsylvanians would face a tax increase. This plan is bad for Pennsylvania and our country. At a time when incomes are rising for the very rich and relatively stagnant for everyone else, a plan that lavishes tax breaks on the top 1 percent, and pays for it in part by taxing others, should not be the starting point of our tax reform debate. The Washington-based Institute on Taxation and Economic Policy released the 50-state numbers today. While GOP leaders have pitched the plan as a tax cut for the middle class, the analysis shows that this is not true for the nation as a whole or for Pennsylvania. While most Pennsylvanians would receive a modest tax cut, on average that cut … Continue reading

Bush era tax cuts fall short

Originally appeared in the Harrisburg Patriot News, July 3, 2011 Ten years ago last month, President George W. Bush signed a bill cutting taxes by $1.35 trillion over 10 years. It was the first of several Bush tax cuts that ended up costing two and a half trillion dollars over a decade. Dan Gleiter, The Patriot-News Ten years later, what have we gotten for this tax cut? Where is the prosperity President Bush promised? Pennsylvania’s official unemployment rate in June 2001 was 4.8 percent. Today, the seasonally adjusted rate is 7.4 percent. Nationwide, the unemployment rate was 4.7 percent. Today, it is hovering around 9 percent. At the end of last year, supporters of Bush’s policies pushed through an extension of the Bush tax cuts for another two years. Many lawmakers say they want to extend the tax cuts again into 2013 and beyond, which would almost double the federal … Continue reading

Take action today to block tax cuts for the rich!–and some notes on where we stand on the tax issue

The Senate is scheduled to vote today on the tax cut plan President Obama negotiated with Senate Republicans. Click here  to send an email to Senators Casey and Specter to urge them to vote no and encourage President Obama to stand united with Democrats in the House and Senate to seek a better deal. Urge them to seek a deal that continues extended unemployment benefits, that stimulates the economy, that cuts taxes for working people and the middle class and that stands against unnecessary, wasteful tax cuts for the rich. Click here  to send that message now. An interesting week This has been one of the more interesting weeks since I began at Penn ACTION in June. Our actions and emails about President Obama’s tax compromise have created more controversy among the people on our email list than anything else we have done. So this is a good opportunity for me … Continue reading

Tell Congress to fight for a better deal

The news is full of reports that President Obama has cut a deal with Republican leaders in Congress on taxes. There is one good element in this bill: the 13 month continuation of extended unemployment insurance for which we’ve been fighting. But the price the Republicans have demanded for this good policy is an unnecessary and unjust extension of the Bush tax cuts for millionaires and a further reduction in the estate tax. A growing number of Democratic Members of Congress are saying that extended unemployment insurance should not be held hostage to tax cuts for the rich. They are telling their leaders and the President to stand up and fight for a better deal. Their position reflects all of the polls, which show 70% of the public opposing a continuation of the Bush tax cuts. Congress will be voting on the deal before they go home for the holidays. … Continue reading