Democratic Congressional Candidate: Tax Cuts Should Be ‘Completely Eliminated’

• October 22, 2018 12:19 pm


Illinois Democratic congressional candidate Sean Casten said on Monday that the tax cuts passed by Republicans and President Donald Trump in 2017 should be "completely eliminated."

"So the tax reform that was passed, should be completely eliminated for a really simple reason," Casten said. "Prior to that tax reform being passed, corporates were sitting at record profits as a percent of GDP, record cash reserves, and wages were at an all-time low relative to GDP."

Since the tax cuts were passed, the economy has done fairly well according to analysis by the Washington Post. Unemployment continues to go down to historic lows, wages have been steadily increasing, and economic growth is projected to be around three percent for the year 2018. In the immediate aftermath of the tax cut numerous companies announced bonuses, better benefits, or increased wages due to the tax cuts.

Casten argued the opposite was occurring, with most Americans seeing no benefit from the tax cut.

"By giving a tax cut to corporates to the top one percent, 83 percent of the tax cut went to the people who didn't need it," Casten continued. "And it hasn't triggered investment. It hasn't triggered wage growth. What it's triggered is a massive increase in dividends. And when 35 percent of U.S. equities are owned by foreigners that means that more money left the country from the tax bill than flowed to 99 percent of Americans."

Casten has not shied away from making controversial statements during his campaign.

Back in August, Casten made national headlines when he compared Trump to al Qaeda founder Osama bin Laden, the man responsible for the Sept. 11, 2001 terror attacks. Then a few days later, Casten said "Nazis" work in the White House.

Casten is running against incumbent Rep. Peter Roskam (R., Ill.), who has held the seat since 2007 and won in 2016 by a wide margin. The race is currently rated a toss-up by most election prognosticators.

Published under: Illinois, Tax Reform