See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Democrats Aim to End 'Ridiculous Giveaway' to Rich to Boost Medicare

Posted on AllSides July 9th, 2022
From The Left
Tom Williams/CQ Roll Call

Progressives welcomed Thursday's news that Senate Democrats are finalizing a plan to raise taxes on some high-income households to bolster Medicare.

As The Associated Press reported, citing unnamed Democratic aides: "Under the latest proposal, people earning more than $400,000 a year and couples making more than $500,000 would have to pay a 3.8% tax on their earnings from tax-advantaged businesses called pass-throughs. Until now, many of them have been using a loophole to avoid paying that levy."

The modest tax hike on the rich owners of pass-through firms would raise an estimated $203...

Read full story

AllSides Picks

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right