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Items tagged with: Tax
#UShistory #Economics #Equality
(14/n)
.. .households in the top decile by 2.6%, a cool $13,600. 👉The [income] #Tax blow came on top of tariffs that took a disproportionately large bite from the disposable income of the working class."👈
👉It is crucial to understand that..."the lopsided distribution of prosperity is a feature of #American society that has persisted across administrations, whether Democratic or Republican." 👈 Of cannot be attributed to #Biden or...
#UShistory #Economics #Equality
(8/n)
...reduced the marginal #tax rate from 70% to just 50%. In 1988, #RonaldReagan and the #GOP slashed it even more to just 28%.👈
The only time in post-WWI #US history that the #MaginalIncomeTaxRate was even lower for a few years, had been in 1925 (25%), which proved to be unsustainable.
After that, it went back up to 39% and stands now at 37%..."
[For a more detailed discussion, see:
mastodon.social/@HistoPol/1099…]
"As #BarackObama’s...
HistoPol (#HP) 🏴 🇺🇸 🏴 (@HistoPol@mastodon.social)
@Mjo321@mstdn.social (1/4) I would like to make a counter proposal: Implement or expand: #WindfallProfitsTax, #WealthTax, #InheritanceTax It is not the obligation of the rich to pay 4 s.o. else's #Social #Security.Mastodon
#Trump Keeps #Immunity From #IRS, a Victory in a Long Feud
Even as they rebelled against a $1.8B #SlushFund for Trump’s allies, #Republicans looked the other way as his admin granted him lucrative #tax protections.
#Senate Republican anger about Trump’s $1.8B fund for people who claim to be victims of federal overreach was loud & apparent.
…Not so for sweeping protections from IRS audits that #ToddBlanche also ordered up for Trump, his family & his businesses.
#ToddBlanche’s announcement that he plans to kill the anti-weaponization #SlushFund but keep in place a deal that shields #Trump from past #tax #liability [#fraud] is likely to break the #Senate impasse over passage of an #immigration bill.
But the tax agreement—which could save Trump >$100 million, per a NYT analysis—could be highly damaging for #Republicans forced to defend that they supported a deal that enriches a billionaire with #TaxpayersMoney.
