The text discusses the economic policies of the White House, highlighting the President’s plan to grow the economy from the middle out and bottom up. The President is committed to not raising taxes on anyone making less than 0,000 and will cut taxes further for workers and families, funded by asking corporations and the wealthy to contribute more.
Canada is one of the wealthiest countries in the world. For generations, this has meant Canada is a place where everyone could secure a better future for themselves and their children. This is in no small part is due to our commitment to progressive taxation, investments in Canada’s strong social safety net, and an effective, … Read more
– Tax Day 2024 sees highest-income individuals, most profitable corporations, richest families, and wealthiest investors paying lower tax rates compared to last century.
– Individuals with incomes over million paid an average tax rate between 40-60 percent in the years after World War II, but now the rate is around 26 percent.
– The average corporate tax rate in 2021 was less than 10 percent, compared to about 35 percent in the 1950s, ‘60s, and ‘70s.
– The estate tax has become ineffective at curbing family economic dynasties, allowing families to pass down large sums tax-free.