Americans

Biden White House highlights a coming showdown with GOP over 2017 tax cuts that are due to expire

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Biden White House highlights a coming showdown with GOP over 2017 tax cuts that are due to expire

The winner of November’s presidential election will face a challenge with the expiration of nearly trillion in tax cuts next year. Biden’s White House is highlighting the issue and emphasizing differences with Republicans over taxes. Biden wants to raise taxes on corporations and the ultra-wealthy to support the middle class. Trump argues that tax increases would harm the economy. The 2017 tax cuts failed to deliver the promised growth. Biden wants to extend middle-class tax cuts while raising taxes on profitable companies and the richest Americans. Trump believes growth comes from choices made by companies and wealthy investors, while Biden believes it comes from spending and saving by middle-class households. Extending all of Trump’s tax cuts would add .6 trillion to budget deficits through 2034. Biden’s plan does not include the cost of extending tax cuts for those making under 0,000. Republicans may need to consider spending cuts to address the higher debt load from extending tax cuts.

Biden Looks to Raise Tax Revenue When Trump Cuts Expire Next Year

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Biden Looks to Raise Tax Revenue When Trump Cuts Expire Next Year

Lael Brainard, the director of the National Economic Council, suggested that lawmakers should raise taxes on companies and the wealthiest while extending the 2017 cuts for those making less than 0,000.

White House begins push for corporate tax hike in earnest

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White House begins push for corporate tax hike in earnest

Fact: Lael Brainard, director of the White House National Economic Council, stated that President Biden is considering raising the corporate tax rate and increasing the federal tax on stock buybacks if he wins a second term.

Opinion: Let’s follow the Irish on productivity

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Opinion: Let’s follow the Irish on productivity

The fact described in the text is that low corporate taxes and friendly regulation fueled the rapid growth that made Ireland a productivity leader.

US working to deliver aid to Gaza through any available route, Ambassador says

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US working to deliver aid to Gaza through any available route, Ambassador says

The US is working to deliver humanitarian aid to Gaza through various routes, including the sea lane from Larnaca, according to US Ambassador to Cyprus, Julie Fisher. The construction of a floating platform for aid delivery is in its final stages, and efforts are being made to ensure that aid reaches Gaza as soon as possible.

Canada hikes taxes and regulation as the neighboring U.S. economy booms

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Canada hikes taxes and regulation as the neighboring U.S. economy booms

The text discusses the concept of tall poppy syndrome, which refers to tearing down successful individuals or ventures. It also mentions Canada’s widening productivity gap, with Canadian workers producing 71% of the GDP per hour produced by U.S. peers in 2022. Additionally, the government of Prime Minister Justin Trudeau recently announced an increase in capital gains taxes.

American opinion: Biden tax plan would pummel average Americans

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American opinion: Biden tax plan would pummel average Americans

The Biden tax plan includes increasing the U.S. corporate tax rate by one-third to 28 percent and proposing a 40 percent leap in the corporate alternative minimum tax.

Turkey is not the West, let’s come to terms with it

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Turkey is not the West, let’s come to terms with it

The Turkish president cancelled his visit to the USA, scheduled for May 9th, despite the Americans making preparations. This decision was not surprising due to deteriorating relations between the two countries. The postponement will increase suspicion between Washington and Ankara, impacting US-Turkish relations. Some analysts see it as a missed opportunity to improve relations and believe Turkey could be a mediating factor in various crises, but Turkey consistently opposes the West and prioritizes its own interests. Recep Tayyip Erdoğan navigates alliances to advance his plans, which those dealing with Turkey should take into consideration.

Biden faces a tough balancing act as campus protests over Gaza escalate

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Biden faces a tough balancing act as campus protests over Gaza escalate

Biden is facing criticism from both left and right factions for his Israel policy, as campus protests against the war in Gaza escalate. Despite concerns that the protests could impact his chances in the upcoming election, the White House has focused on rolling out youth-friendly policies, such as student loan relief and marijuana reform. Republicans have used the protests to criticize Democrats, while some warn that young voters may desert Biden over his stance on Israel.

Opinion: Biden tax plan would pummel average Americans | Chattanooga Times Free Press

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Opinion: Biden tax plan would pummel average Americans | Chattanooga Times Free Press

President Joe Biden’s 2025 budget blueprint, if implemented, would lead to record spending, soaring debt, and trillion-dollar deficits becoming the new norm. Despite billions in higher taxes, middle-class Americans frustrated by rising prices should expect more of the same under Bidenomics.