Demand News Networks Expose Project 2025’s Nightmare Tax Scheme Now
Led by the ultra-right wing Heritage Foundation and more than 50 conservative organizations, Project 2025 is a 920+ page blueprint to guide the next Republican presidential administration that calls for sweeping changes to everything from reproductive rights, veteran affairs, the power of the executive branch, and immigration.
While Project 2025 has received a lot of buzz in the media in recent days, what has been missing is reporting on the massive tax breaks, giveaways, and cuts for billionaires and corporations that the plan would usher in.
Here are just a few of the alarming tax changes that Project 2025 is calling for :
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Eliminating the 15% corporate minimum tax and the 1% excise tax on stock buybacks completely.
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Freezing IRS funding allocated by the Inflation Reduction Act, which has allowed the agency to recoup over $1 billion in unpaid taxes by the very wealthy and significantly improve taxpayer services.
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Replacing expert career civil servants with political hacks who will grind the functions of government to a halt.
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Reducing the number of income tax brackets and lowering rates, which would give the ultra-wealthy a massive tax cut and increase taxes on working families. A Center for American Progress study found a family of four with $100,000 in annual income would pay $2,600 in additional income tax under this change, while a family of the same size making $5 million a year would receive a $325,000 tax cut.
These changes alone are bad enough, but there are so many other policy proposals in Project 2025 that are not only devastating for working people and families but for democracy as well. Because, at the end of the day, the more money that flows to the ultra-wealthy, the more political influence they have and the more America becomes an oligarchy.
The plans of the right-wing’s extremist movement have never been written down in clearer, starker, or more alarming terms. We must do everything we can to fight back against this regressive agenda, take political power back from the billionaire class, and achieve economic prosperity for all.
Demand news networks expose Project 2025’s nightmare tax scheme by adding your name now.