Alternative Visions – US House Trump Tax Cut Bill Cuts $4.5 trillion on Corporations and the 1% – 11.10.17

Download this episode (right click and save)Dr. Rasmus reviews the final details of the US House of Representatives’ Trump-Ryan tax cut plan just voted out of Committee and on its way to a vote in the House next week. Also, early provisions of the US Senate version of the cuts now being initially debated.  Rasmus shows how the total cuts amount to $4.5 trillion, not the media’s $1.5 trillion that will impact budget deficits and the US debt in the end.  How just three big corporate tax cut measures account for $2.5 trillion tax cuts for corporate and non-corporate businesses. How another $2 trillion in cuts in personal income taxes benefit the wealthiest 1% households. How the middle and working classes taxes will be raised by $3 trillion to pay for the $4.5 trillion—leaving the remaining $1.5 trillion as a budget deficit (to be paid for later by cuts in social program spending, including Medicare, Medicaid, SSI disability, and food stamps, education, etc.).  For Dr. Rasmus’s latest written article on ‘The Trump-Ryan Tax Cuts for the Rich—Who Pays’, go to the blog, jackrasmus.com. (Next week on Alternative Visions show: The debate in the Senate on its version of the tax cuts + Why the Crypto-Currency (Bitcoin etc.) Bubble is about to ‘pop’.)