If this sounds drearily familiar, that’s because you’ve heard it all before. Republicans are always frantic about spending unless they are the ones doing the spending (see: the massive 2017 tax cut for rich folks). The lines are being drawn for yet another bottomless gibberish festival from the right, designed only to impede if not destroy the progress promised by a full-fledged infrastructure bill with its eye on sustainability and the threat of climate disruption.
Before we get lost in that bog, I have an idea. The papers were awash yesterday with reports that the Internal Revenue Service (IRS) has all but gotten out of the business of taxing the wealthy, resulting in uncollected taxes estimated to add up to $1.4 trillion over 10 years. - Truthout
Thursday, March 25, 2021
Make the rich man pay up, for infrastructure
Makes perfect sense. It's most unfortunate, that the bulk of our elected "representatives" at the federal level are nothing but the rich man's whimpering, groveling curs.
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Let us not forget that the Tax Cut and Jobs Act was passed that provided permanent tax cuts for business but sunset the tax cuts for individuals ... with some seeing the impact in 2021 while most of the tax cuts are set to expire in 2025.
ReplyDeleteBut don't worry some 130 Republicans, including Jim Hagedorn, Tom Emmer and Pete Stauber, have already sponsored legislation to protect at least one tax cut ... they have a real concern with the "death tax" ... so they have co-sponsored HR1712 to to repeal the estate tax.
According to a recent story in the Washington Post, "only about 1,900 of the roughly 3.1 million people who died in 2020 will pay federal estate taxes." The threshold for who has to pay has what many of us would consider a high bar --- the first $11.7 million is exempt (or over $23 million for a couple) but Jim, Tom and Pete are working had make sure families don't have to suffer financially from the loss of a loved one.
Just a pure guess on my part, but I bet the families in Bolder and Atlanta are relieved to have those Republicans looking out for their interests.