Move swiftly and pass COVID relief!
Use Budget Reconciliation.
Do not waste an instant on “negotiations.”
Since before they took over the Senate, Republicans have become virtually useless!
They see fit only to represent a fraction of the 1%, a handful of large banks and mega-corporations. As a bloody distraction, they have cultivated the seditionist coalition of Imbecilic QAnon Kooks, stupid & angry white supremacists, wannabe violent and sadistic fascists, and naive supporters of autocracy.
In particular, we have seen the Trump administration, with McConnell's blessing, give disproportionately more COVID aid to larger companies. That was on top of the Tax Cuts they already got!
Here's the thing, billionaires saw their net worth increase by _half_a_Trillion_dollars during the pandemic and that's while 40 Million Americans filed for unemployment during the pandemic.
If we could recover half of that Half Trillion straight away, it would be some $250 Billion!
From time to time, I remind myself of Reagan's Tax Travesty. This is an excellent time. Taxes paid by the wealthy have decreased by 79% since 1980. (I saved my Tax Returns & Tax Guides when I started working after I saw friend's father save his first years' returns.) That cumulative tax break for the wealthy is just one legal avenue for them to avoid paying taxes. In 2017, researchers estimated that about 10% of the world's GDP was stashed in offshore tax-havens. A study in 2012 found that as much as $32 trillion was being held offshore by the world's wealthiest people.
So, how will the Tax Code be made fairer under the Biden Administration especially with advocates like Bernie Sanders and Elizabeth Warren keeping silent?
Short story -- Don't buy it when the Republicans start crying over some piddling tax increases proposed by the Corporate Democrats. Don't believe the traditional Big Lie that fairness equals socialism
Research this for yourselves.
Think for yourselves.
Here are some of my sources:
"During the first year of Reagan's presidency, federal income tax rates were lowered significantly with the signing of the Economic Recovery Tax Act of 1981, which lowered the top marginal tax bracket from 70% to 50% and the lowest bracket from 14% to 11%. ... The 1982 tax increase undid a third of the initial tax cut."
Search the Tax-Bracket archives:
Hint: Speed things up just change the year after the last backslash.