Jewish Millionaires Tell Congress: Don't Cut Our Taxes!

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Furthermore, they note that the Republican tax plan would disproportionately benefit the wealthy, while adding at least $1.5 trillion in tax cuts to the current national debt. Passage of these tax cuts will move us from a "Plutocracy" that already threatens our democracy to an "Inheritocracy" where "the rich own everything and everyone else is on their own".

When the "populists" demanded Tax Fairness, they didn't mean that Congress should leave in all the loopholes, the tax-dodges and tricks that enable $2 trillion to be stashed in overseas tax havens, paying for tax cuts by stripping away the only deductions that enable working people to claw their way up the ladder of the American Dream.

The poll found 32 percent of Americans think the wealthy will benefit most, compared to 14 percent who think all Americans will benefit and 14 percent who think large US corporations will benefit most.

Tell Representative Walden that we want real bipartisan tax reform! Among Republicans, 26 percent think all Americans will benefit, followed by 16 percent who think the wealthy will benefit most, the poll found. Between 2010 and 2016, the share of wealth controlled by the top one percent of earners steadily grew, according to Federal Reserve data, reaching a record-high of 38.6 percent in 2016. But the tax decline for the people in the higher-income groups will be quite large.

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The House is expected to vote on its version of the bill this week, and Republican leaders anticipate the proposal will pass.

Republican congressmen are hoping to get Trump's tax plan onto his desk to be signed by the end of the year, following a series of humiliating defeats in their bid to repeal and replace Obamacare.

Republicans are responding with proposed tax cuts that will reward their wealthy donors' campaign contributions with over a trillion dollars in added income over the next decade. "Doing so will help create jobs, strengthen the middle class, and ensure America's economic success".

Meanwhile, the Treasury would be short some $3.4 trillion in the first 10 years, and $5.9 trillion the decade after.

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