Free Republic

Hours after landing a massive tax windfall, AT&T, Comcast, Wells Fargo and Boeing — among other major companies — announced plans Wednesday to share a fraction of their bounty with workers. The moves pleased President Donald Trump, who has claimed his $1.5 trillion in tax cuts that largely favor the wealthy and businesses would ultimately help the middle class. But Democratic lawmakers and corporate watchdogs say the move is a public relations stunt that pales in comparison to the profits the companies’ shareholders and executives will reap because of the lower tax rates. The stock market, as well, has risen...

House Republicans haven’t even officially unveiled their massive plan to overhaul the tax code and the top Republican in the Senate is already pronouncing it dead. Senate Minority Leader Mitch McConnell, R-Ky., said Tuesday he sees no hope for enacting tax overhaul legislation this year. He blamed Democrats for trying to use the issue to raise revenue by $1 trillion. McConnell said the object of overhauling the tax code should be making the nation more competitive, not raising more money for the government. McConnell’s remarks came a day before the Republican chairman of the tax-writing House Ways and Means Committee,...

Chambliss and Linder Lead Effort To Overhaul Tax System April 05,2004 Washington - U.S. Senator Saxby Chambliss (R-GA) and U.S. Representative John Linder (R-GA) are leading a bi-partisan and bicameral effort to provide much needed tax relief to all Americans. Senator Chambliss and Representative Linder discussed their legislation at a news conference today at the state Capitol in Atlanta. Referred to as the FairTax (S. 1493 and H.R. 25), this legislation would shift the federal government’s method of funding operations from income-based taxes to a personal consumption tax. It would repeal all federal personal income taxes, corporate income taxes, payroll...