Page 106 - Working Poor News Today

House said, we dont want to do this additional estate tax cut and the republicans said, fine, then we will not agree to extending any of the refundable tax credits for working poor, and low income working families. so how do you add it all up? positives, negative? >> this kind of horse trading goes on behind the scenes. this was done, as i understand, by joe biden. he went over there, the vice president, he had to deal with mcconnell. >> i think that senator kyl was heavily involved in this as w...

Understand it, is the white house said, we dont want to do this additional estate tax cut and the republicans said, fine, then we will not agree to extending any of the refundable tax credits for working poor, and low income working families. so how do you add it all up? positives, negative? >> this kind of horse trading goes on behind the scenes. this was done, as i understand, by joe biden. he went over there, the vice president, he had to deal with mcconnell. >> i think that senator kyl was h...

For a different approach? is there a different approach? >> its a serious proposal, but its not grumbling in this sense. its making the case again and again to the american people about whose side are you on. we just had a vote, senator sanders and senator whitehouse sponsored a $250 one-time payment for social security beneficiaries because they didnt have a c.o.l.a. the same week republicans clamor for a tax cut for millionaires and billionaires. they vote down $250. it would cost us $13 billi...

Mcconnell, hes talking about repealing those and opposing their extensions. hes talking about raising taxes on the working poor, a lot of middle class people. obamas name is certainly going to be prominent if thats what youre talking about doing. the bush tax cuts represent trickle down economics. thats the strongest message, republicans believe in trickle down economics, you help the people at the top, its going to help everybody else. people dont believe in that, they dont want to go back to t...

Measures, wealthier taxpayers are shouldering more than the bottom percent. >> they earn 37% of the income but pay 60% of all the federal income taxes. the bottom 50% of earners earn about 12% of all the income but pay 3% of all the taxes. >> meeting the top 50% pay a record 97% of income taxes. wage earners below $50,000 in income can easily escape income taxes with standard deductions and tax credits like those for children or the working poor. while that makes the tax system more progressive ...

Latest updates on this topic.

Latest updates on this topic.