MSNBC’s O’Donnell: GOP Tax Bill ‘The Single Biggest Transfer of Wealth to the Richest Americans’ in the History of America

‘The Trump tax cuts that passed the House of Representatives and the Senate Finance Committee are the worst pieces of tax legislation that have ever passed the House of Representatives and the Senate Finance Committee’


O'DONNELL: "And exactly zero Democrats on the Senate finance committee voted for these Senate version of the bill. Not one democratic senator. In the house of representatives, 13 Republicans voted against the bill because it hurts their states very badly by reducing the deductibility of state and local taxes. The Senate bill is even worse. It completely eliminates the deductibility of state and local taxes and therefore steeply increases taxes in states with higher than average property taxes and state income taxes and it is no coincidence that the states most burdened by this tax increase are the wealthier states in the country that finance much more of the federal government’s activities than the other states and the states — these are the state that is routinely vote for Democrats. Including democratic candidates for president. This is the first time that the personal income tax code has been used by a political party to punish the voters and taxpayers of the other political party. This is a politically vindictive tax bill. It literally forces voters to pay higher taxes because they vote for Democrats. And both the house and the Senate version of the bill force middle class voters, including trump middle class voters, in all states to pay higher taxes when the bill is fully fazed in. Americans earning less than $75,000 would face substantial tax increases and this is exactly the opposite of what the president promised when he was campaigning."

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