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Progressive Democrats have been grousing for what seems like eons about the fact that some of the nation’s wealthiest corporations avoid paying their fair share in taxes. This weekend, the ...
A California Democrat is renewing his efforts to tax wealthy residents’ net worth as a potential solution to closing the state’s $68 billion spending gap.. And Democratic Assembly Speaker ...
(The Center Square) – Democratic lawmakers are blasting Republicans for considering cuts to some federal programs in order to finance President Donald Trump’s campaign promises, such as ...
The former was primarily tax cuts, while the latter included a blend of tax cuts, investment and spending. The CBO initially estimated that ARRA would increase the federal budget deficit by $185 billion during 2009, by $399 billion in 2010, by $134 billion in 2011, for a total of $787 billion over the 2009-2019 period. [146]
Democrats believe the benefits of social services include a more productive labor force and that the benefits of this are greater than any benefits that could be derived from lower taxes, especially on top earners. Furthermore, Democrats view social services as essential to providing positive freedom (i.e., freedom derived from economic ...
The short-term and long-term capital gains tax rates for the bottom two tax rates, 15% and 28%, respectively, were equal to those tax payers' marginal income tax rates from 1988 until 1997. In 1997, the capital gains tax rates for the bottom two income tax brackets were reduced to 10% and 20% for the 15% and 28% income tax brackets, respectively.
But Democrats loathed the new limit on state and local tax deductions Republicans passed as part of the Tax Cuts and Jobs Act. The so-called SALT deduction used to have no limit, but the TCJA ...
Some alternatives to the bill included a proposal by Senator David Boren (D-OK), which would have kept much of the tax increase on upper-income payers but eliminated all energy tax increases and scaled back the Earned Income Tax Credit. It was endorsed by Bill Cohen (R-ME), Bennett Johnston (D-LA), and John Danforth (R-MO). Boren's proposal ...