Why Democrats' new plan to tax the wealthy still isn't the wealth tax the public overwhelm …

why democrats new plan to tax the wealthy still isnt the wealth tax the public overwhelmingly wants it to be

Sumary of Why Democrats' new plan to tax the wealthy still isn't the wealth tax the public overwhelmingly wants it to be:

  • House Democrats’ plan to tax the rich isn’t quite the wealth tax progressives have long championed.
  • House Democrats are targeting the wealthy to pay for their massive infrastructure package.
  • Americans itching to tax the rich shouldn’t get too excited.
  • On Monday, House Democrats unveiled a plan that would raise $2.9 trillion in revenue for their massive social spending bill, largely by raising taxes on the wealthiest Americans and corporations.
  • “The wealth tax is not something that a bunch of politicians sit around and think, ‘Great idea,’ Senator Elizabeth Warren told reporters on Tuesday.
  • Elizabeth Warren has championed, there are key differences that suggest it may not go as far as some Democrats want in ensuring the wealthy pay their fair share.
  • This allows the wealthy to park cash in other assets like stocks and bonds— which is part of a household’s net worth that Warren has proposed to tax.
  • “It’s like adding another bracket that’s 3 percentage points higher than the top rate that it’s proposed that they’d pay,” Frank Clemente, executive director at the left-leaning advocacy group Americans for Tax Fairness, told Insider of the Democrats’ plan.

Want to know more click here go to source.

From -

Close
Generic selectors
Exact matches only
Search in title
Search in content

Site Language


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close