Fighting for a U.S. federal budget that prioritizes peace, economic security and shared prosperity
Corporate income taxes are expected to account for less than 11 percent of all federal tax revenue in fiscal 2015. Meanwhile, income taxes paid by regular Americans will account for more than 46 percent of all federal revenue.
Possibly the single worst thing about it is the cynical way that its supporters want to use it to create an excuse to gut Social Security, Medicare and Medicaid.
The priorities in Congress this week are clear: a $700 billion authorization for military spending in FY 2018, and a $1.5 trillion tax plan that bestows untold wealth upon the already jaw-droppingly wealthy.
To support this modern-day Poor People’s Campaign, the Institute for Policy Studies has produced an analysis of the campaign’s four core issues: racism, poverty, the war economy/militarism, and ecological destruction.
In the United States, the richest one percent – with average incomes of $2 million – will collectively get $56 billion in tax cuts in 2019 under the Senate plan.