This article criticizes the recurring trend of tax cuts for the wealthy, arguing that it serves the interests of donors over the needs of communities.
After every major election, the focus shifts to the winning candidates: their mandates, seat margins, and plans for the first 100 days. Policy previews for the coming year abound. However, one issue will dominate discussions in Washington, D.C. and across states—taxes. Republicans in Washington are preparing to extend and possibly expand President-elect Donald Trump's 2017 tax cuts.
Meanwhile, nearly every state will face additional fiscal pressures while striving to fund essential programs and services. The vast majority of Americans favor higher taxes for the wealthy, both at the state and federal levels. It's time for elected officials to heed this demand after years of underwhelming results. Past sessions reveal how anti-tax politicians nationwide cater to their donors: whenever Republicans hold a trifecta in Washington this century, they've championed tax cuts for the wealthy. During the Covid-19 pandemic, 26 states implemented tax cuts, frequently targeting top earners, resulting in a projected $124 billion loss by 2028. We've witnessed this narrative before, and it's stale, unconvincing, and relegates voters to mere spectators when our communities deserve center stage. How many times must we endure the same trickle-down economic fallacy? It's becoming tiresome. Polls demonstrate that voters prefer politicians to adopt a straightforward approach, raising revenue from large corporations and the wealthy, rather than feeling the strain as tax cuts lead to budget cuts for vital programs and services essential for our children and communities
TAXES ECONOMY POLITICS WEALTH DISPARITY POLICY
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