Miguel Afonso Caetano on Nostr: #PLUTOCRACY + #KLEPTOCRACY: "One of the hallmarks of Donald Trump’s presidential ...
#PLUTOCRACY + #KLEPTOCRACY:
"One of the hallmarks of Donald Trump’s presidential campaign was a promise of sweeping tax cuts, for the rich, for working people and for companies alike.
Now congressional Republicans have the job of figuring out which of those cuts to propose into law. In order to pay for the cuts, they have started to eye some targets to raise money. Among them: cutting benefits for single mothers and poor people who rely on government health care.
The proposals are included in a menu of tax and spending cut options circulated this month by House Republicans. Whether or not Republicans enact any of the ideas remains to be seen. Some of the potential targets are popular tax breaks and cuts could be politically treacherous. And cutting taxes for the wealthy could risk damaging the populist image that Trump has cultivated.
For the ultrawealthy, the document floats eliminating the federal estate tax, at an estimated cost of $370 billion in revenue for the government over a decade. The tax, which charges a percentage of the value of a person’s fortune after they die, kicks in only for estates worth more than around $14 million."
https://www.propublica.org/article/trump-tax-cuts-congress-republicans-plan-slash-benefits
#USA #Trump #TaxCuts
"One of the hallmarks of Donald Trump’s presidential campaign was a promise of sweeping tax cuts, for the rich, for working people and for companies alike.
Now congressional Republicans have the job of figuring out which of those cuts to propose into law. In order to pay for the cuts, they have started to eye some targets to raise money. Among them: cutting benefits for single mothers and poor people who rely on government health care.
The proposals are included in a menu of tax and spending cut options circulated this month by House Republicans. Whether or not Republicans enact any of the ideas remains to be seen. Some of the potential targets are popular tax breaks and cuts could be politically treacherous. And cutting taxes for the wealthy could risk damaging the populist image that Trump has cultivated.
For the ultrawealthy, the document floats eliminating the federal estate tax, at an estimated cost of $370 billion in revenue for the government over a decade. The tax, which charges a percentage of the value of a person’s fortune after they die, kicks in only for estates worth more than around $14 million."
https://www.propublica.org/article/trump-tax-cuts-congress-republicans-plan-slash-benefits
#USA #Trump #TaxCuts