Monday, March 8, 2021

The surprisingly progressive tax measures in the stimulus bill

Interesting breakdown here, which indicates just how progressive this stimulus bill is, particularly on the tax side. It's quite the opposite of the GOP Tax Scam of 2017. Of course, these measures in the American Rescue Act are mostly one-offs for the 2020 or 2021 tax year, and that means there is a new set of issues and actions that will need to be taken (or not) to avoid a massive cliff from hitting. But let's realize that this stimulus bill is a big adjustment away from the austerity and slanted tax policy that we have seen for the better part of 40 years.

Let's keep it going, shall we?

1 comment:

  1. Much of the plan is good and needed by many of the recipients; however, I know three millionaires who will receive more than $20,000 each. All are self-employed (PUA unemployment recipients) and semi-retired with low AGI and large cash accounts. They should spend more time targeting to the people in need.