Sahil Kapur and Laura Davison Bloomberg Published 9:47 AM EDT Apr 15, 2019 Republicans passed a sweeping tax cut for two-thirds of Americans in 2017, saying it would pay for itself and the American public would thank them. Now, as Americans finish filing to the IRS for the first time under the new system, the law has swelled the deficit and surveys show just one-fifth of taxpayers believe their taxes have gone down. That’s made it hard for President Donald Trump to leverage the tax cuts as an issue in 2020, when he’s up for reelection and his party will be seeking to retake the House of Representatives. “The Democrats really outmaneuvered the Republicans by convincing the American people that the main thrust of the tax reform package was to cut taxes for the wealthy,” said Dan Eberhart, a major Republican donor who runs the drilling services company Canary, LLC. Republicans “failed to fully explain the success to voters.” Trump is going to try … [Read more...] about Most Americans got a Trump tax cut, most didn’t notice
Proposed tax brackets trump
opinion Nolan Finley The Detroit News Published 10:00 PM EDT Apr 11, 2019 Sen. Bernie Sanders, America's most famous socialist, delivered a succinct and powerful lesson on the virtues of capitalism. In trying to explain to critics his new-found millionaire status, the Democratic presidential candidate and Vermont senator said: "I wrote a best-selling book. If you write a best-selling book, you can be a millionaire, too." Precisely. That's how capitalism works. Individuals are rewarded for ambition, hard work, creativity, talent and, sometimes, even good luck. And those rewards belong to the person who earned them. As Sanders indirectly noted, it's what incentivizes people to strive for success. It's a far different ideology than Sanders' beloved socialist system, where the goal is equalizing wealth regardless of individual contributions. Remember the Marxist motto: From each according to his ability, to each according to his need. Notice that Sanders … [Read more...] about Finley: Sanders and Warren, the reluctant capitalists
Jeff Stein, The Washington Post Published 8:27 am PST, Saturday, January 5, 2019 Alexandria Ocasio-Cortez, D-N.Y., was elected to Congress in 2018. Alexandria Ocasio-Cortez, D-N.Y., was elected to Congress in 2018. Photo: Washington Post Photo By Melina Mara Photo: Washington Post Photo By Melina Mara Image 1 of / 15 Caption Close Image 1 of 15 Alexandria Ocasio-Cortez, D-N.Y., was elected to Congress in 2018. Alexandria Ocasio-Cortez, D-N.Y., was elected to Congress in 2018. Photo: Washington Post Photo By Melina Mara Ocasio-Cortez wants higher taxes on very rich Americans. Here's how much money that could raise. 1 / 15 Back to Gallery Rep. Alexandria Ocasio-Cortez, D-N.Y., … [Read more...] about Ocasio-Cortez wants higher taxes on very rich Americans. Here’s how much money that could raise.