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#tax the wealthy
queerism1969 · 9 months
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On Wednesday, Senate Health, Education, Labor and Pensions (HELP) Chair Bernie Sanders (I-Vermont) and Rep. Pramila Jayapal (D-Washington) reintroduced a proposal to make higher education free at public schools for most Americans — and pay for it by taxing Wall Street.
The College for All Act of 2023 would massively change the higher education landscape in the U.S., taking a step toward Sanders’s long-standing goal of making public college free for all. It would make community college and public vocational schools tuition-free for all students, while making any public college and university free for students from single-parent households making less than $125,000 or couples making less than $250,000 — or, the vast majority of families in the U.S.
The bill would increase federal funding to make tuition free for most students at universities that serve non-white groups, such as Historically Black Colleges and Universities (HBCUs). It would also double the maximum award to Pell Grant recipients at public or nonprofit private colleges from $7,395 to $14,790.
If passed, the lawmakers say their bill would be the biggest expansion of access to higher education since 1965, when President Lyndon B. Johnson signed the Higher Education Act, a bill that would massively increase access to college in the ensuing decades. The proposal would not only increase college access, but also help to tackle the student debt crisis.
“Today, this country tells young people to get the best education they can, and then saddles them for decades with crushing student loan debt. To my mind, that does not make any sense whatsoever,” Sanders said. “In the 21st century, a free public education system that goes from kindergarten through high school is no longer good enough. The time is long overdue to make public colleges and universities tuition-free and debt-free for working families.”
Debt activists expressed support for the bill. “This is the only real solution to the student debt crisis: eliminate tuition and debt by fully funding public colleges and universities,” the Debt Collective wrote on Wednesday. “It’s time for your member of Congress to put up or shut up. Solve the root cause and eliminate tuition and debt.”
These initiatives would be paid for by several new taxes on Wall Street, found in a separate bill reintroduced by Sanders and Rep. Barbara Lee (D-California) on Wednesday. The Tax on Wall Street Speculation would enact a 0.5% tax on stock trades, a 0.1% tax on bonds and a 0.005% tax on trades on derivatives and other types of assets.
The tax would primarily affect the most frequent, and often the wealthiest, traders and would be less than a typical fee for pension management for working class investors, the lawmakers say. It would raise up to $220 billion in the first year of enactment, and over $2.4 trillion over a decade. The proposal has the support of dozens of progressive organizations as well as a large swath of economists.
“Let us never forget: Back in 2008, middle class taxpayers bailed out Wall Street speculators whose greed, recklessness and illegal behavior caused millions of Americans to lose their jobs, homes, life savings, and ability to send their kids to college,” said Sanders. “Now that giant financial institutions are back to making record-breaking profits while millions of Americans struggle to pay rent and feed their families, it is Wall Street’s turn to rebuild the middle class by paying a modest financial transactions tax.”
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Billionaires don’t fear for their lives enough. That’s a legit issue.
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antidrumpfs · 1 year
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nixcraft · 10 months
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I saved and sharing this in case I win lotto :P
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aunti-christ-ine · 9 months
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mbrainspaz · 1 year
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my gran called to complain about my coworker who hasn't been pulling her weight. She likes to complain about every person in my life not doing right by me which gets really annoying when it's my friends. Anyway, I give her an update on the coworker situation which is essentially this: It's not about me. The kid is struggling. She's living in poverty with an abusive parent who she can't get away from because of the housing crisis, she's forced to commute for hours every day in a truck she's gonna be paying off until she wrecks it, and when she gets to work she can't do the work because of personal health issues and being pregnant but she can't quit the job because she needs healthcare. That took the steam out of my grandma's Karen rant. Now she could see how heartless it would be to say the kid deserved to be fired. She's anti-abortion so she can't suggest that. Gee it's almost like it would be great, I said, if we had things like affordable housing, universal healthcare, and some kind of government program that gave people who couldn't find safe & accessible work a living wage (with no shame or demeaning conditions) so that this young girl wouldn't be forced to suffer like this— and for what? She is running herself ragged caring for luxury status symbol animals on behalf of a company who's CEO has a net worth in the millions. Who's really not pulling their weight?
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madison-of-a-bitch · 7 months
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i will never understand how people with the same IQ as a pigeon manage to secure these high paying jobs and proceed to hoard wealth
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viscardiac · 11 months
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Sometimes I compare how it must be crazy to face the fall of capitalism from an economic north country. Thirty years ago there was work and things cost reasonable prices for them. For us, economic south, thirty/fourty years ago was bad economically. Bad as in everything's prices rose overnight. Literally. Stores would sell things for yesterday's price. The pictures are on the history books. When I was born things were just changing for the better. My childhood was spent on a relatively okay scenario when the subject was country economics. For us, it's a constant fear of seeing that again. When the dollar keeps going up and our currency gets devalued it's cold sweat. It's not like in the US where there was a generation long prosperity before capitalism started to glitch out. My parents saw all that. We would all save. Just in case. It's crippling fear and it impacts differently for us on the subject of the impending fall of capitalism, to hope to hell and back that your money is still gonna afford you rent and groceries at the end of the month. That it's not gonna be worth half of it in a week. This is not to say that the US never faced problems, but problems were very different. Jokes about a box of eggs costing 12 million marks hit different. Our parents saw that. They'll tell you in dread about how it didn't matter how much you worked, by the end of the week your money would be worth a tenth of its original value. We always lived in fear of being crushed by the wheel. We never did afford the ride. We worry about how close it seems again. It's everyday terrifying.
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queerism1969 · 9 months
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Public-school students in Massachusetts are set to get free lunch and breakfast thanks to a new 4% tax on people's earnings above $1 million.
Massachusetts in 2022 voted for a constitutional amendment to tax high earners. It went into effect at the beginning of 2023.
State House News Service, an independent news wire, reported that $1 billion of the state's record $56.2 billion fiscal budget for 2024 will be funded by its new 4% tax.
Gov. Maura Healey signed the budget on Wednesday, making Massachusetts the eighth state to adopt a plan for free school lunch since the expiration of federal free school lunches that had emerged during the COVID-19 pandemic.
The outlet reported that a portion of the $1 billion expected to be gathered from the new income tax would be used to provide all public-school students in Massachusetts with free breakfast and lunch, if they want it.
WCVB reported that state lawmakers agreed to allocate $523 million of anticipated revenue from the new tax on education and set aside $477 million for transportation.
In February, President Joe Biden urged lawmakers to pass his billionaires' tax proposal, which would impose a minimum 20% tax on households with a net worth of more than $100 million.
Unlike Massachusetts' new tax, which is on income, the proposed billionaire's tax is aimed at wealth.
Jared Bernstein, a member of the White House Council of Economic Advisers, told CNBC the proposal would target "big corporations and the wealthiest Americans," while protecting people who made less than $400,000 a year from tax increases.
Biden also signed the Inflation Reduction Act into law in February, which included a 15% minimum tax on corporations earning more than $1 billion.
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Stop bailing out the rich and start taxing them.
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The problem is that a good portion of our politicians are in the 1% and why would they vote to tax themselves?
They won’t unless we give them no other option
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antidrumpfs · 1 year
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Huck/Konopacki Cartoons
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chicadesantaana · 2 years
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Met this guy on Fremont near Las Vegas. He makes crosses made of vines for extra cash. Count your blessing not everyone is as blessed as you!
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