Tax Breaks: Billionaires vs. Everyone Else? A Deep Dive
Analysis of tax breaks reveals some favor wealthier Americans permanently, while breaks for others expire. Impact on different income levels and the debate surrounding fairness are examined.
Tax Cuts Expiry: Impact and Historical Context
The potential expiry of Tax Cuts and Jobs Act is analyzed. While a large dollar amount, experts say it wouldn't be the largest rise in history as a GDP percentage. Historical context and alternative metrics are considered. Tax policy changes impact individuals.
Online Posts Misrepresent Biden’s Proposed Tax on Unrealized Capital Gains
“[T]he distribution of wealth among Americans has grown increasingly unequal, concentrating economic resources in a steadily shrinking percentage of individuals,” the Treasury Department wrote in its general explanation of Biden’s proposed budget.
Day 2 of the Democratic National Convention
Trump’s proposal to end federal taxes on tips (which Vice President Kamala Harris later said she also supports) is aimed at benefiting mostly low-income workers, though some economists doubt it will work.