'This hostage crisis has never been about deficits for the GOP,' said IlhanMN. 'It has always been about wealth transfer—taking away food and healthcare from the poor and middle class to give away $3 trillion more in tax cuts to their rich friends.'
"We're not going to raise taxes," House Speaker Kevin McCarthy published in March by the Center for American Progress found that the GOP austerity crusade"does not address the true cause of rising debt"—tax cuts.
"Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues," noted Bobby Kogan, CAP's senior director of federal budget policy."In fact, relative to earlier projections, spending is down, not up. But revenues are down significantly more."
"If not for the Bush tax cuts and their extensions—as well as the Trump tax cuts—revenues would be on track to keep pace with spending indefinitely, and the debt ratio would be declining," Kogan observed."Instead, these tax cuts have added $10 trillion to the debt since their enactment and are responsible for 57% of the increase in the debt ratio since 2001."
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
North Carolina governor says GOP teacher pay, voucher plans a public education ‘disaster’Democratic Gov. Roy Cooper is embarking on a campaign to try to beat back education and tax legislation from the Republican-controlled General Assembly that he says if enacted would crush North Carolina’s public schools and wobble the state’s economic future.
Read more »
TNX unveil tracklist for 3rd mini album 'BOYHOOD' | allkpopFollowing the release of concept photos for the group's upcoming comeback, TNX continue to release various content teasing the release of their 3rd …
Read more »
NASA’s PolSIR: New Mission To Unveil the Mysteries of High-Altitude Ice CloudsNASA is launching a mission to study high-altitude ice clouds using two CubeSats equipped with the Polarized Submillimeter Ice-cloud Radiometer (PolSIR). The objective is to enhance climate forecasts and improve global climate models. Part of the cost-effective Earth Venture program, the mission aim
Read more »
L.L. Bean Ready to Unveil $110M Corporate CampusAs a brand that is all about getting people to enjoy the great outdoors, L.L. Bean has managed to incorporate elements of nature into its new sprawling corporate offices.
Read more »
A Toast to Science: Researchers Unveil the Mystery Behind Champagne’s Elegant BubblesFluid mechanics researchers found that surfactants give the celebratory drink its stable and signature straight rise of bubbles. Researchers from Brown University and the University of Toulouse discovered that surfactants, soap-like compounds, are responsible for the straight rise of bubbles in c
Read more »