Tax increases being aired on Capitol Hill and coming from the White House won't do much to restore U.S. taxes to their historical level.
This year differs from the recent norm, however: The debate in Washington is overDemocratic tax proposals, which are aimed at funding a budget bill expected to cost hundreds of billions of dollars per year, are still in flux, with formal plans expected to be made public in the next few days. Even after that, negotiations loom on the horizon, even within the party, and compromises are inevitable.
The increases being aired on Capitol Hill and coming from the White House won’t do much to restore U.S. taxes to their historical level or the system’s progressivity to where it was as recently as the 1970s, but at least they’re a start.In recent years, or until this round of policy-making, tax cuts were part of the political platforms on both sides of the aisle, though there were disagreements over who would pocket the larger share.
The wealthiest Americans have enjoyed an almost unbroken decline in their tax burden since the early 1960s, when income of married people in excess of about $90,000 was taxed at 70% or higher. That applies to earned income, such as wages.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Column: Larry Elder joining the recall race was the best thing that could've happened to NewsomLarry Elder carried with him three decades of provocative right-wing rhetoric that Gov. Newsom turned into a scary wake-up alarm for snoozing Democrats, writes columnist George Skelton.
Leer más »
House Democrats propose raising capital gains tax to 28.8%The proposal differs from a prior Biden administration plan to raise the top combined rate to 43.4% for those with income over $1 million.
Leer más »
POLITICO Playbook: Grisham dishes on MelaniaStephanie Grisham is best known for never holding a press briefing. Now she's breaking her silence on what she saw in the Trump White House. Get a preview of her upcoming tell-all:
Leer más »
U.S. House Democrats seek to roll back Trump tax cuts for wealthy, corporationsLeading Democrats in the U.S. House of Representatives on Monday proposed a substantial roll-back of former President Donald Trump's tax cuts, including raising the top tax rate on corporations to 26.5% from the current 21%.
Leer más »
House Democrats Consider 26.5% Corporate Tax RateHouse Democrats are considering calling for raising the corporate tax rate to 26.5% from 21% and imposing a surtax on people making over $5 million
Leer más »