GOP tax scam is working just as Republicans intended: Adding billions to already-record profits for Wall Street banks while leaving working families out in the cold
millions of families across the country are discovering either lower refunds or eye-popping tax bills due to Uncle Sam.
According to recent IRS data, tax refunds across the country are down by a total of $4.4 billion this year compared to last year. In addition, about 2 million fewer filers received a refund this year compared to last year at this time.
And the lower refunds are starting to hurt the overall economy. Retail sales dropped in January and February, and analysts say lower refunds are the main reason.
While families may be hurting, wealthy corporations are celebrating like JP Morgan. Amazon, GM, Goodyear, Netflix, and U.S. Steel all made profits in 2018, but all filed for refunds from the government totaling hundreds of millions of dollars.
https://shareblue.com/republicans-gave-o...-tax-scam/
millions of families across the country are discovering either lower refunds or eye-popping tax bills due to Uncle Sam.
According to recent IRS data, tax refunds across the country are down by a total of $4.4 billion this year compared to last year. In addition, about 2 million fewer filers received a refund this year compared to last year at this time.
And the lower refunds are starting to hurt the overall economy. Retail sales dropped in January and February, and analysts say lower refunds are the main reason.
While families may be hurting, wealthy corporations are celebrating like JP Morgan. Amazon, GM, Goodyear, Netflix, and U.S. Steel all made profits in 2018, but all filed for refunds from the government totaling hundreds of millions of dollars.
https://shareblue.com/republicans-gave-o...-tax-scam/