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I think there is a pretty easy hack to making tax cuts unappealing to billionaires: pass a law that says each tax payer receives the exact same amount back.
Pass a 4 trillion dollar tax cut that works out to $4000/tax payer? Congrats, billionaires. Enjoy your 4k.
Every republican voted no. See whats happening here?
UBI with extra steps. I like it
Correct me if I’m wrong, but I don’t believe that the super rich actually have a high conventional income normally. Most of their wealth would be from investments and stock.
A neat trick with that is that they can take out loans against their stock to buy superyachts, governments, and other toys and that’s not only not income, the interest is tax deductible. Plus there are other tricks like S Corps to shield them. So, this isn’t as useful as it would suggest (not that we shouldn’t tax >100m at 99% or something just to make the point.)
You're not wrong.
But keep cutting their taxes and they can have more conventional income in addition to everything else.
Thieves in the bank offices
Does anyone have a link to the proposed amendment and the vote on it?
I believe this is regarding the proposed budget by the House Budget Committee.
Yeah, I just can’t seem to find their proposed amendments. Maybe because they weren’t considered or something? I’ll have to see if I can find the cspan section. I just want a snippet to show my family where Republicans are voting lockstep to protect wealthy people.
Awesome thank you so much!!