President Biden Certainly Gets It Right Again...
Biden Will Seek Tax Increase on Rich to Fund Child Care and Education
President Biden is set to detail the full proposal, which will set up a clash with Republicans, next week.
Al Drago for The New York Times
Mr. Biden will also propose raising the top marginal income tax rate to 39.6 percent from 37 percent, the level it was cut to by President Donald J. Trump’s tax overhaul in 2017. The proposals are in line with Mr. Biden’s campaign promises to raise taxes on the wealthy but not on households earning less than $400,000.
The president will lay out the full proposal, which he calls the American Family Plan, next week. It will include about $1.5 trillion in new spending and tax credits meant to fight poverty, reduce child care costs for families, make prekindergarten and community college free to all, and establish a national paid leave program, according to people familiar with the proposal. It is not yet final and could change before next week.
The plan will not include an up to $700 billion effort to expand health coverage or reduce government spending on prescription drugs. Officials have decided to instead pursue health care as a separate initiative, a move that sidesteps a fight among liberals on Capitol Hill but that risks upsetting some progressive groups.
SKIP
The plan will set up a clash with Republicans and test how far Democrats in Congress want to go to rebalance an economy that has disproportionately benefited high-income Americans.
As intelligent proposal full of common sense the Trumpublicans will absolutely give it the big middle finger, Caring only about amassing wealth in the hands of the few Trumpublicans could not care one iota about the average American working family or the education of your childre3en.
Les... I am wondering where it all ends. The Dems are big on programs, and I get that. But they are strong on paying for them. Actually, despite all the rhetoric, no one wants to pay for anything. Maybe we could use a tax increase to pay down the debt? Maybe fund the IRS and use the money they dig up from tax evaders to pay down the debt.
ReplyDeleteWe all know no one likes taxes, but in reality, we all like what those taxes get us. Roads, bridges, schools, libraries, hospitals, vaccines, social security, defense, police and more. Those taxes push innovation, pay for development, aid our allies, help us recover from disasters, you name it.
The "Golden Era" of America, for many, the 50's, was a time of economic expansion, building of our infrastructure and a housing boom. And it was all accomplished with a high end tax rate that would choke a GOP politician today.
All this stuff ain't free.
But I don't know how we break the log jam and move forward.
Cheers amigo.
Good to see you stop in Dave. Like you I really have no idea how or when this ends. Now that it looks like the 2020 census may result in trumpublicans gaining seats in Congress and Dems getting a possible net loss the insanity of the trumpublican party will likely continue for years to come. Possibly 10 years or longer.
ReplyDeleteI do not like paying taxes either. But hey, we all use all of the services you pointed out. For me the positions of the trumpublicans is nothing more than extreme selfisness and disregard for the nation's long term fiscal health.
There is way to much extraneous pork written into law (by both sides majority). Bringing home the bacon is alive and well. So yes, Biden should arm the IRS with whatever number of people needed (if it takes 1,000 or 2,000 so be it), name them "The Tax Enforcers Brigade" and go after tax delinquenta and tax evaders with both barrels and with a vengence never ever before seen. We might be able to accomplish things for America and pay down some of the stratospheric national debt. Which I think we both know republicans/trumpublicans are most responsible for.
Nothing is free but watching the republican/trumpublican agenda (greed) I see no way this will change in whatever time I have left on this rock.
I hate to be so negative but I watched the republican party slide into ever increaing fiscal responsibilty and under tRump the seditionist/insurectionist it slid into insanity in many many ways.
Once a long time ago I was a proud republican. Now I despise the party and most of what it stands for.
Cheers back at ya amigo