By Christopher Rice-Wilson
President Donald Trump — fresh off House approval of a health care bill that would cut taxes for the wealthy to gut care — is now peddling a tax proposal that would cut corporate taxes by $2.4 trillion over 10 years. The wealthiest corporations would get the overwhelming majority of this, while small businesses would get far less. And like all tax cuts for the wealthy, the people who would end up paying for them are us, the everyday taxpayers, in the form of deep cuts to vital services that we rely on every day.
To make matters worse, those same corporations benefit from a loophole in Proposition 13 that allows them to avoid paying $9 billion per year in taxes. While corporations pay less and less in taxes, our taxes go up. To fight back against corporate giveaways, we need to close the corporate loopholes in Proposition 13 and reaffirm protections for homeowners and renters.