Seems that the ‘tax the rich’ tax cut IS in the House Biden Build Back Better package sent off to the Senate for their ok….
But?
There IS some fine points…….
If the increase in. taxes for the rich survives the US Senate?
We are reminded by some that the 2017 Republican tax cuts has a avenue for rich people and big corporation to get around the new tax increase’s…
Sooooo?
Maybe the Democrats can ‘say’ they raise the taxes for the ‘super rich’…..
But that was just a perception?
And the rich will keep the same amount of money they always did and big business’s will continue to pay little to no taxes and even get funds….
This finding will help Democrats, and Biden, tout the Build Back Better social-spending bill that passed the House last week. But it now heads to the Senate, where it will likely face changes at the hands of centrist Democratic holdouts Joe Manchin and Kyrsten Sinema, particularly when it comes to tax provisions in the bill.
As Insider’s Joseph Zeballos-Roig reported, a group of House Democrats want to raise the total amount of state and local taxes (SALT) that people can shave off their federal taxes to $80,000 from $10,000, the cap created under Trump. While some Senate Democrats, like Vermont Sen. Bernie Sanders, have balked at the idea because it would it largely benefits wealthier Americans in high-tax states like New York and California, Manchin was the lone Democrat who backed a GOP proposal to establish the cap in late 2017. …
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The final version of the bill, and what tax provisions end up in it, remain to be seen as the Senate works to get the social-spending package, with climate measures and universal pre-K, signed into law before Christmas…
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