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hermetic

(8,976 posts)
2. Just got this in an email
Wed Sep 4, 2024, 12:55 PM
Sep 2024

We haven’t heard much about the massive tax breaks, giveaways, and cuts for billionaires and corporations that P2025 would usher in, while creating new taxes that would land squarely on the backs of the middle and working class.
Proposed plans include:
Doing away completely with the 15% corporate minimum tax and the 1% excise tax on stock buybacks.
Paralyzing the IRS by ending enforcement funding from the Inflation Reduction Act, which so far has already brought in over $1 billion in unpaid taxes.
Changing the tax brackets to deliver a massive tax cut to the upper brackets, letting the ultra-wealthy off the hook, while increasing taxes on working families. According to a study by the Center for American Progress:
A family of four with $100,000 income would pay $2,600 more per year, and a family of four with a $5 million income would receive a cut of $325,000.

More light, indeed.

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