"This is corruption and corporate greed, and it is unacceptable -- when we defeat Donald Trump, we are going to end this tax scheme."
|Oct 27||Public post|| 26|
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Bernie is in Detroit today with a clear message for Trump and Trump’s billionaire friends: their grotesque tax scam is going to end.
In recent months, a series of reports have documented how Trump and his cronies have enriched their wealthy donors and supporters with a tax program that was meant to help low-income communities. This is comic-book villain kind of stuff:
The so-called “opportunity zone” tax breaks that were supposed to help low-income communities are flowing to Trump’s wealthy donors and supporters, many of whom directly lobbied Trump officials.
The situation in Detroit is among the most emblematic.
An October ProPublica investigation showing that after billionaire Dan Gilbert’s firm, Quicken Loans, gave Trump’s inaugural committee a large donation, the money “appears to have paid off: Three swaths of downtown Detroit were selected as opportunity zones under the Trump tax law, extending a valuable tax break to Gilbert’s real estate empire.” In addition to Quicken Loans giving Trump’s inaugural committee $750,000, Gilbert’s firm had also “been lobbying the Treasury Department on the regulations for the program,” ProPublica reported.
In Detroit today, Bernie is rallying with Rep. Rashida Tlaib. He is announcing that when he is elected, he will end this Trump tax scam:
“In city after city, Trump has taken so-called ‘opportunity zone’ tax breaks meant for working-class communities, and instead given them to his donors and friends after they lobbied him and gave him money,” Bernie said in the announcement. “Let me be as clear as I can be: this is corruption and corporate greed, and it is unacceptable. When we defeat Donald Trump, we are going to end this tax scheme and instead redirect public money into affordable housing, infrastructure, schools and other programs that directly invest in communities that have been destroyed by billionaires and the corporate elite.”
As president, Bernie will conduct a top-to-bottom audit of existing opportunity zones to determine whether credits were improperly awarded to major Trump donors and cronies. He will also rescind future opportunity zone tax breaks, and redirect resources into programs that actually help working-class communities -- programs such as Rep. Jim Clyburn’s 10-20-30 initiative and Rep. Tlaib’s BOOST Act, the latter of which would provide low-income families up to $6,000 of refundable tax credits.
For his part, Trump has tried to defend the tax program, but this New York Daily News headline summed up what it’s really all about:
Bern after reading,