While schools and bridges crumble, the Republican tax cut gave six Wall Street banks $3.6 billion
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Another round of champagne, fellas! Despite running on a “drain the swamp” platform, Donald Trump and his greedy Republican enablers passed a tax cut that has done little or nothing for the average American. A tax cut that was nothing more than a massivWhile schools and bridges crumble, the Republican tax cut gave six Wall Street banks $3.6 billion
Another round of champagne, fellas! Despite running on a “drain the swamp” platform, Donald Trump and his greedy Republican enablers passed a tax cut that has done little or nothing for the average American. A tax cut that was nothing more than a massive giveaway to the Wall Street swamp Donald Trump conned his believers into thinking he would take on for the little guy. At a time when more than 54,000 U.S. bridges have been deemed “structurally inefficient” and remain in dire need of repair, a time when students from Oklahoma to West Virginia and across the country are using dated, crumbling 25-year-old textbooks, a time when teachers are forced to work two or even three jobs just to get by, executives at JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley and Bank of America are popping champagne and ordering another round of Russian caviar. Because for them, life is good. Real good. From the Associated Press: The nation’s six big Wall Street banks posted record, or near record, profits in the first quarter, and they can thank one person in particular: President Donald Trump. While higher interest rates allowed banks to earn more from lending in the first quarter, the main boost to bank came from the billions of dollars they saved in taxes under the tax law Trump signed in December. Combined, the six banks saved at least $3.59 billion last quarter, according to an Associated Press estimate, using the bank’s tax rates going back to 2015. How many new textbooks would $3.6 billion buy? How many low-income families could get health care for $3.6 billion? That nearly $4 billion payoff was only for the last quarter. The annual savings will be much larger. Read more