Man, this is just hilarious.
For years, Republicans have run for office on promises of cutting taxes and bolstering business to stimulate economic growth, pledging allegiance to a Reaganesque model of conservatism that has largely become the party’s orthodoxy.
But now the entire rationale for the Republican Party’s existence is being ripped out by the roots by the fearsome Trumpenstein, leaving them scrambling to explain to their ultrawealthy donors why their undisputed frontrunner is advocating levying higher taxes on them: CONT’D
How do you value the efforts of America’s top chief executives? Are they worth 10 times what their average worker makes, 20 times or even 100 times?
The current answer appears to be a ratio of more than 300-to-1, according to a new study from the left-leaning Economic Policy Institute. The meteoric rise of CEO pay is nothing short of breathtaking, outpacing not only the wages of ordinary workers, but also gains in the stock market and the not-too-shabby rise of income among America’s 0.1 percent of top earners. MORE
Here’s a recipe for an economic armageddon: Take a rapidly aging society and a younger generation that’s not having kids. The result? An incredible shrinking economy that’s also burdened by huge costs to its Social Security and tax systems.
That’s the grim future for countries such as Japan, where the population is forecast to decline by one-third through 2060, thanks to a sharp drop in birthrates and an elderly population. In the U.S., a childbirth trend among Millennials is raising questions about whether some of the same economic pressures could be in store for America. MORE
WASHINGTON — The House of Representatives voted Thursday to give a tax break worth $269 billion to the richest few thousand estates in the country, and add that cost to the federal debt.
Called the Death Tax Repeal Act of 2015, the bill would end the nearly 100-year-old federal estate tax. All but three Republicans voted in favor, while all but seven Democrats voted against. The legislation passed 239 to 179.
The measure benefits only the top .2 percent of the population because the other 99.8 percent of the country doesn’t own enough wealth to ever pay the tax. Only estates worth more than $10.9 million for couples and $5.4 million for individuals fall under the tax. MORE