Two years ago this month, President Donald Trump and Republicans in Congress rammed through tax cuts that cost us $2 trillion. Two years later, these tax cut dollars are still flowing into the pockets of the wealthy and big corporations.
Many working families across Michigan, including many union members, were shocked when they filed their 2018 tax returns and discovered Trump’s promises of a tax cut for all fell flat as they were left facing a massive, unexpected tax bill.
Republicans claimed the tax cuts would pay for themselves. They haven't. Instead, they have widened a massive deficit that reached $779 billion in 2018, an increase of 17%. Unsurprisingly, $2 trillion in tax cuts is projected to explode the national debt by about $2 trillion within the next decade.
Who’s going to pay for these cuts? Well, in Trump’s latest budget, he cuts trillions of dollars from Medicare, Social Security, education and more.