Michael Linden, Campaign Director for Families Over Billionaires, joined the America's Work Force Union Podcast to discuss the federal government’s proposed $5 trillion tax cut, its impact on working families and the campaign's efforts to ensure fair taxation.
Linden explained that the proposed tax cuts would primarily benefit the wealthiest Americans, with an estimated $350,000 annual tax break for the top 0.1 percent. This stark contrast to the median household income highlights the growing wealth disparity in America. Linden speculated that the cuts would be offset by reductions in essential services like healthcare, education and veterans' benefits. If that happens, it would effectively make working families pay for billionaire tax breaks.
The campaign director also challenged the “trickle-down” economic theory, citing historical evidence that tax cuts for the wealthy do not lead to job creation or wage increases. He pointed to the 2017 Trump administration’s tax cuts as a recent example, where corporations primarily used the savings for share buybacks and executive compensation rather than worker benefits or investments.
Linden stressed the importance of public awareness and engagement in the tax debate. He urged Americans to voice their opposition to these unfair tax policies, regardless of political affiliation. The Families Over Billionaires campaign aims to empower citizens with information about the real impact of these proposed tax cuts on their communities and livelihoods.
To hear more about the fight for fair taxation with Linden, listen to the full episode above.