CHECK-IT-OUT: Righties in the Senate are refusing to approve an extension to unemployement benefits for millions of Americans, even though there is an off-set in the legislation that would help pay for the costs. This off-set is actually a first, as unemployment benefits have historically been approved as “emergency spending” without any budget off-sets. The off-set in this current bill is a proposed closure of an income tax-loophole for the wealthiest among us, one which we discussed in our most recent post — INCOME INEQUALITY — that allows a mere 15% tax bracket for wealthy investors — while top salary earners pay at the rate 35%.
The New York Times editorial on Tuesday concludes, “The fact that lawmakers are not willing to ask the nation’s wealthiest to pay their fair share of taxes also makes a mockery of all their talk about deficit reduction.”
Why is it that wealthy investors cannot be asked to pay their fair share of taxes and continue to benefit from lowered taxes, while unemployeed American citizens are asked to find a way for their families to “get by” with no job, no healthcare, and no income?
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