Beware of Koch brothers’ support of Trump’s tax cuts

USA Today reported last month that the “powerful political network overseen by conservative billionaire Charles Koch is launching a multimillion-dollar campaign to drive Trumps’ tax plan through Congress.” According to the article, the group wants to pass a tax overhaul this year in advance of the mid-term elections in case the Republicans lose control of Congress. Trump’s tax plan will “slash the corporate tax rate, reduce taxes for high-income earners and abolish the federal estate tax.” What Koch and his powerful political network of the wealthiest people in America wish to push through this tax plan is troubling for several reasons.

First, according to Dark Money, The Hidden History of the Billionaires Behind the Rise of the Radical Right by Jane Mayer, the people represented by the 0.01 percent are billionaire businessman, many of whom are holding “virtually unlimited private fortunes” they inherited from their families. These are people who have never arrived at the end of the month unable to pay the electric bill. Their picture of tax reform is that they not be taxed.

Second, this powerful political network is a group of foundations like the Heritage Foundation into which these ultra rich people can pour tax deductible donations, and the groups can use the money to hire lobbyists to advance their causes under the guise of philanthropy.

Finally, Mayer’s research shows that these groups operate in secret. Neither financial records nor goals are easily available. Furthermore, the groups are not promoting a better America, they are advocating for their personal financial interests.

Charles Koch is one of the top 10 wealthiest people in the world. Billionaires like these should pay their fair share of taxes like the rest of us and not be dictating America’s tax plan.

This story was originally published June 1, 2017 at 2:19 PM with the headline "Beware of Koch brothers’ support of Trump’s tax cuts."