Monday, August 24, 2020
MADISON, Wis. — Today, as the Republican National Convention kicks off under the banner of President Trump making America a ‘Land of Promise,’ Wisconsinites know the truth — President Trump’s promises about improving the economy are empty. The case in point? His signature economic policy, the Tax Cuts and Jobs Act — better known as the Trump tax scam.
Because of the Trump tax scam, Wisconsin residents with the lowest incomes are expected to pay more in taxes, while the wealthiest 1% of residents can expect almost $8,000 in savings. President Trump’s tax giveaways to the wealthy hurt Wisconsinites before the pandemic, and haven’t done any favors to help working people weather the current financial crisis because of it.
Check out this video from Tim of Appleton, as he discusses who really benefits from the Trump tax scam. “The people who really benefit from Trump’s tax cuts are the people at the top, and what it does is it leaves people like me, like most of my friends and family, out in the cold,” said Tim, a former employee at AT&T’s now-closed Appleton center. “AT&T decided to close our center within a year. The Trump administration cares more about lining the pockets of Wall Street than they do about helping Wisconsinites.”
What’s more, President Trump promised wages would soar under his leadership. But, wages have been stagnant in Wisconsin for 40 years. Adjusting for inflation, the median wage in Wisconsin is only 73 cents higher than it was in 1979. To make matters worse, the president promised to put the American people first in his plans for economic recovery from the COVID-19 pandemic — but the Paycheck Protection Program has left small businesses behind, and he has refused to extend the $2,400 per month paycheck that kept countless Wisconsin families afloat until the program was left to expire on July 31.
Listen to Becca Cooke from Eau Claire here as she discusses the struggles she’s facing to keep her small business afloat. “I came back to Wisconsin to open my own small business. I didn’t come from an affluent family, so it was really kind of a pull-yourself-up-by-the-bootstraps start,” said Becca Cooke, owner of Red’s Mercantile “I think the 1 percent and corporations are the people that are benefiting from the Trump tax law. You don’t see that trickle down to small businesses.”
So, while President Trump and his allies will tout his economic agenda this week and claim they’ve turned America into a ‘Land of Promise,’ Wisconsinites are living the truth every day. President Trump has broken every promise to build an economy that works for working people — and the Trump tax scam is the case in point.
To speak with an Opportunity Wisconsin spokesperson, please email press@opportunitywisconsin.org
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About Opportunity Wisconsin
Opportunity Wisconsin is a coalition of Wisconsin residents fighting for an economy that works for working people. Through our stories, we’re elevating the real consequences of the destructive economic policies championed by President Trump and his allies these past three years, and showing how they have made Wisconsin’s economy worse off. Join us in demanding our elected officials focus more on growing the economy for middle class folks and expanding opportunity for all Wisconsinites, not just the wealthy few. To learn more about Opportunity Wisconsin, visit OpportunityWisconsin.org or stay connected on Twitter at @OpportunityWI and on Facebook at Facebook.com/OpportunityWI.