The federal government collects taxes from various sources to finance public services and infrastructure. Our tax policies—that is, the mechanics of how revenue is collected—are one of the driving factors for our growing economic divide in the U.S.
In response to the push for spending cuts to limit growth in the federal deficit, MoveOn.org, United for a Fair Economy, and Rebuild the Dream are trying to build support for a different approach, with new revenue and more stimulus spending to create jobs. Interview on BNN News with the Senior Organizer on Federal Tax Policy from United for a Fair Economy, Lee Farris.
RW director Mike Lapham and businessman/RW member Jim Mann were invited onto SoCal public radio to combat baseless arguments from the economics naysayers of Americans for Tax Reform (ATR). The pair added yet more legs to the Buffett argument for higher taxes on the wealthy. Mann also noted that historically high economic inequality must be strongly considered as we move forward.
When it comes to telling the story of our dire economy, it seems Republican politicians have lifted their strategy from the Wizard of Oz rather than a political playbook. But rather than accept the line that poor people are to blame for our mounting federal deficit, we should pull back the curtain on the real culprits.
It seems Republicans will find any excuse to attack the estate tax. Read more to find out how the estate tax is quietly under siege in the debt ceiling debate.