From the Daily Kos link that Fac posted....an actual ON TOPIC post!
This means raising taxes on the rich. The majority of Democrats in Congress agree on that. They're trying to reestablish the idea that everyone paying their fair share of taxes is just how government is supposed to work, and they see this huge, absolutely essential, and highly popular infrastructure proposal as the way to do it.
"What we're doing is generating revenue, but we are also making a major area of American government more fair, so people don’t feel they've been played while the rich person gets off scot-free," Sen. Ron. Wyden, the Oregon Democrat chairing the tax-writing Finance Committee, told The New York Times. He's been working on tax policy changes for corporations, the energy industry, and the rich. That means raising corporate taxes from the 2017 GOP tax scam rate of 21%—it was 35% pre-2017, and Democrats have proposed rates of 25% and 28%. They should go back to 35%, but we'll see how much they want to fix this.
Wyden's team is eyeing a couple of other 2017 measures, including one that’s letting millionaires using partnerships and limited liability companies take a tax break meant for small businesses, and the carried-interest loophole that allows private equity firms to claim the fees they get from clients as capital gains (taxed at 20%) instead of income (taxed at 37%). Wyden is also proposing getting rid of a range of tax breaks—44 separate provisions—that give the fossil fuel industry a windfall and replacing them with tax breaks for green energy producers.
For the super-rich, Biden wants to raise the top tax bracket from 37% to 39.6% and to tax stock sales for millionaires as income rather than capital gains. There's support for that among rank-and-file Democrats in Congress. "Taxes need to be raised on corporations and need to be raised on that wealthiest of people who got a terrible, tremendous windfall from the Trump tax game," Rep. Steve Cohen a Democrat of Tennessee, told the Times.
Voters like the idea, too. As Kerry Eleveld writes, "For nearly two decades, more than two-thirds of American taxpayers have told Gallup they don't think corporations pay their fair share in taxes … In fact, just a couple months ago, Pew Research Center polling found that at least 80% of Americans said one of their biggest complaints about the federal tax system was the fact that some corporations and wealthy individuals don't pay their fair share."
80 percent. Time for our elected reps to start listening to their constituents. This just makes sense. And how many of those rich people got rich on the backs of people working really hard for meager wages? If anything, Democrat's proposals are too tame. It is time to stop apologizing for long overdue wealth distribution. Who really earns our nation's wealth - some dude in an office masturbating with numbers on a screen, or someone busting their hump in a sawmill where it's 110 inside and the air is full of sawdust?