Followers of U.S. Rep. Rod Blum’s social media pages will notice his effort to push the benefits of the GOP’s federal tax bill. They are inundated with talk of bonuses and pay increases because of the so-called tax cuts.
Yet, few of those articles mention businesses in Iowa. And almost none talk about the benefits to the top 1 percent — millionaires like Blum — and the numerous businesses using the tax incentives to buy back stock and not increase employee wages.
Iowans, like my family, have seen a minimal gain by the passage of this bill.
The median household income in Blum’s district is $57,402, according to data from The Iowa Policy Project. This means most will receive about $400 dollars from the passage of the federal tax bill. This money will benefit the economy and improve our communities. However, the same data shows the richest 1 percent — like Blum — are receiving $43,060. This is equal to or greater to the annual income of about 40 percent of Iowans.
Given the recent revelation that Blum failed to disclose his business, Tin Moon Corporation, constituents are left to wonder about Blum’s net worth and how he is benefitting from the tax bill. If he truly wishes to represent Iowans and be credible in doing so, Blum must release his taxes to prove that he is not seeing undue benefit from the tax cuts he supported. If he won’t, voters should remember his actions this November.