On their face, ongoing congressional efforts at reforming the tax code have one goal in mind—blow a $1.4 trillion hole in the deficit to finance giveaways to millionaires, billionaires, and corporations. But take a closer look, and a second agenda shows up—manipulate the tax code to fight culture wars.
The plunder for plutocrats is clear. By 2027, the Joint Committee on Taxation estimates that over 37 million households filers with incomes under $200,000 would pay higher taxes. By contrast, almost 62 percent of the tax cuts in that year would go to the top 1 percent.
The above excerpt was originally published in Democracy Journal.
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