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Category: Tax cuts for the rich

  • Republicans Passed A Budget That Could Result In Cuts To Medicaid

    On Tuesday, February 25, Republicans in the House of Representatives narrowly passed a budget resolution that would extend Trump’s 2017 tax cuts for the ultra-wealthy and implement new tax cuts, costing the government USD 4.1 trillion. These cuts will allow the highest income brackets to pay less in taxes, often contributing far less of their income than those at the lowest income brackets. Tax cuts to the wealthy serve to deprive the government of tax revenue it would have otherwise received from the highest income brackets—which could otherwise go to funding government programs that millions rely on.

    The post Republicans Passed A Budget That Could Result In Cuts To Medicaid appeared first on PopularResistance.Org.

    This post was originally published on PopularResistance.Org.

  • “We Must Make the Trump Tax Cuts Permanent as Soon as Possible,” GOP Rep. Says

    Republicans on the House’s chief tax-writing committee made clear during a hearing Tuesday that their top priority is making permanent the massive giveaway to the rich that Donald Trump and the GOP pushed through in 2017. Rep. Jason Smith (R-Mo.), chairman of the House Ways and Means Committee, said during his opening remarks at Tuesday’s hearing that “we must make the Trump tax cuts…

    Source

    This post was originally published on Latest – Truthout.

  • Tax cuts, rorts and a fake debate

    Federal Labor is softening us up for more budget cuts, as interest rates continue to climb and a recession looms. Sue Bull reports. 

    This post was originally published on Green Left.

  • Memo to the treasurer: Scrap the stage three tax cuts

    Greens, Socialist Alliance and Australian Progressives came together at treasurer Jim Chalmers’ Logan office to oppose the Stage Three tax cuts for the rich, reports Alex Bainbridge.

  • States With Temporary Budget Surpluses Should Invest In People

    Policymakers in at least 14 states are using temporary budget surpluses to call for costly and permanent tax cuts targeted more to wealthy people and profitable corporations than to those who need help. That’s a bad choice. States should be careful to protect their long-term ability to provide funding for high-quality schools, access to affordable health care, and other public services, which these tax cuts would badly erode. Instead of permanent tax cuts, states should use the surpluses for needed one-time supports for people and businesses or to seed longer-term investments, especially those targeted to the communities most harmed by the COVID-19 pandemic.

    The surpluses largely reflect substantial — but temporary — federal funding provided in relief bills enacted in 2020 and 2021; those relief bills also boosted state economies and thus state revenues as well, further improving state fiscal conditions.

    The post States With Temporary Budget Surpluses Should Invest In People appeared first on PopularResistance.Org.

    This post was originally published on PopularResistance.Org.