Lindsay Owens is the Executive Director of Groundwork Collaborative.
Next year, when key provisions of President Trump’s 2017 tax breaks to the wealthy and corporations expire, we have an opportunity to get our money back.I’m not just talking about all the foregone tax revenue we’ve lost because the rich have paid so little since 2017—though we should get that back, too. I’m talking about the money families have lost to corporate price gouging .Let me explain.
Instead, they paid a 21% rate and, using loopholes, got to keep an extra $10 billion—which helped with their combined $16.4 billion worth of dividends and stock buybacks for shareholders.Corporations did well from Trump’s corporate tax cuts, with executives getting big raises and shareholders receiving big buybacks. But the real bonus came when inflation hit.
Corporate Power Greedflation Groundwork Collaborative Inflation Price Gouging Tax Code Trump Tax Cuts
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