Welcome to the discussion of US Politics!
Rules:
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
I see a lot of ‘tax the rich’ pushes, but I’m curious on how. It’s not like billionaires get a normal salary, so I wonder what it actually is - is it taxing assets over a certain value or something?
I worked for a family office in Switzerland and the “salary” from the company to our owner was an entry level salary for compliance/presence purposes. He couldn’t care less about that being taxed.
The rule is apparently not to raise taxes, and the plan is to raise taxes on billionaires.
Tax the Rich Is Actually a Popular Bipartisan Stance, Poll Shows
Typically when the masses agree on something it does not happen unless it also benefits the rich
If politicians represented the masses it would always have been done. But legal bribery means that they represent their donors instead.
This is the best summary I could come up with:
Such staggering accumulations of wealth are made possible in large part by the fact that America’s federal tax burden is so comparatively light.
Now President Biden, behind in many polls and with an economy that is objectively strong but politically unpopular, is hoping to boost his re-election bid with a policy idea that would once have been almost unthinkable: For this portion of the population, at least, he is vowing — almost gleefully — to raise taxes.
For a Democrat with low job approval ratings and precarious poll numbers on his handling of the economy, it’s a shocking rebuke to conventional wisdom — and practically an invitation to critics to call him a tax-and-spend liberal.
Howard Jarvis and his followers, mostly older white property owners, pushed for the ballot initiative known as Proposition 13 because they were, in their words, mad as hell that their rising taxes would help educate immigrant families.
In the 1960s, George Romney, Mitt’s father, regularly turned down his bonuses from his auto executive job, perhaps in part because his marginal tax rate would have been about 90 percent.
“You could be talking about the Mets versus the Dodgers,” the former U.S. Representative Steve Israel of New York recalled, “and good Republican operatives would be able to weave in tax-and-spend.”
The original article contains 1,229 words, the summary contains 214 words. Saved 83%. I'm a bot and I'm open source!