3 ms·
The record is mixed overall for both parties and you are free to research it. But when Republicans take power, they pass tax cuts and those cuts usually favor t
by standardUser 2y ago
The record is mixed overall for both parties and you are free to research it. But when Republicans take power, they pass tax cuts and those cuts usually favor the wealthy and corporations overwhelmingly. Tax cuts don't first require tax increases.
- fsckboy 2y agocontrary to what you say, and in practice if you look at the history of tax cuts, you will see that cuts are balanced by a history of tax increases, and progressive tax increases require regressive tax cuts to balance the accounts, it's simple arithmetic. but don't lose sight of the fact that with or without the cuts, the rich pay most of the taxes In 2021, the top 50% of earners contributed 97.7% of federal income tax revenue. The top 5% of earners — people with incomes $252,840 and above — collectively paid over $1.4 trillion in income taxes, or about 66% of the national total.