President Donald Trump, House Speaker Paul Ryan (R-WI), and many other GOP lawmakers have continually referenced faith and religion when referring to public policy. President Trump’s public remarks have increasing been laced with religious rhetoric—from invoking the Lord to support his declaration of opioid addiction as a national health emergency to his appeal to God to bless the world after launching military strikes in Syria. Similarly, when a policy crisis on gun violence reemerged in the wake of the Sutherland Springs, Texas, massacre, Speaker Ryan immediately reverted to religious rituals urging prayer for the community, but stopping short of a call for legislation to address gun violence—something he is well positioned to do.
Showing posts with label estate tax. Show all posts
Showing posts with label estate tax. Show all posts
Monday, November 27, 2017
Tuesday, November 14, 2017
Not in a million years: The House’s proposed windfall for donors
Congressional proponents of the House Republicans’ tax plan, called the Tax Cuts and Jobs Act, claim that it will benefit the middle class. But in reality, it is a huge giveaway to the donor class—including a handful of top donors who have bankrolled the campaigns of Republican leaders in Congress. In fact, just the bill’s estate tax cuts alone would allow the families of 11 prominent donors, listed below, to pocket up to $67.5 billion. The typical U.S. family couldn’t earn that much in a million years.
That’s not a figure of speech: The typical American family would have to work for 1,144,020 years to make the same amount of money as congressional majority leaders want to give away to the heirs of just these 11 wealthy individuals who helped them get elected.
That’s not a figure of speech: The typical American family would have to work for 1,144,020 years to make the same amount of money as congressional majority leaders want to give away to the heirs of just these 11 wealthy individuals who helped them get elected.
Saturday, October 21, 2017
For the cost of repealing the estate tax, Congress could buy everyone in America a pony
You know how you’ve always wanted a pony? How as a child you dreamed of feeding carrots and sugar cubes out of the palm of your hand to a little chestnut-colored horse named Maple?
It may sound fanciful to adults, but President Donald Trump and Republican leaders in Congress put together a wish list of tax cuts for the wealthy that are far more extravagant than ponies. It turns out for the cost of just one of these tax cuts—repealing the tax on wealthy estates—we could literally buy every single American a pony.
A lovely little Shetland pony, specifically. For all 325 million of us. In fact, the benefits Trump’s own adult children could get from his estate tax repeal would fund nearly 1.4 million ponies—that alone is enough to cover giving a pony to everyone in the state of Maine.
It may sound fanciful to adults, but President Donald Trump and Republican leaders in Congress put together a wish list of tax cuts for the wealthy that are far more extravagant than ponies. It turns out for the cost of just one of these tax cuts—repealing the tax on wealthy estates—we could literally buy every single American a pony.
A lovely little Shetland pony, specifically. For all 325 million of us. In fact, the benefits Trump’s own adult children could get from his estate tax repeal would fund nearly 1.4 million ponies—that alone is enough to cover giving a pony to everyone in the state of Maine.
Friday, September 1, 2017
Tax cuts hidden in Congress’ tax reform, explained
In a joint statement on July 27, top Republican policymakers in the House and Senate, along with President Donald Trump’s top two officials responsible for tax policy, re-upped their commitment to passing “comprehensive tax reform.” With the help of business groups and conservative organizations backed by the Koch brothers, they plan to ramp up their campaign for tax reform over this Labor Day weekend.
The language that Republicans are using to push these proposals—“make taxes simpler, fairer, and lower” for American families—sounds appealing. But the policies on their wish list are almost entirely tax cuts, and almost all of the benefits (99.6 percent under House Speaker Paul Ryan’s plan) will go to the top 1 percent of taxpayers.
The language that Republicans are using to push these proposals—“make taxes simpler, fairer, and lower” for American families—sounds appealing. But the policies on their wish list are almost entirely tax cuts, and almost all of the benefits (99.6 percent under House Speaker Paul Ryan’s plan) will go to the top 1 percent of taxpayers.
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