Cut company in the Budget Proposal

Aug 6th, 2022
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How to cut company in the Budget Proposal

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were putting out a plan today that over a period of not that long a period of time brings our budget not deficit down to what it should be which is close to zero and I think people are going to be very impressed by it were not touching Medicare we want to keep Medicare were not touching Social Security were making our country stronger again were not decreasing Medicaid but were doing a lot of things that are very good including waste and fraud tremendous waste and tremendous fraud so were doing that in terms of certain programs and were taking good care of our military were increasing spending on our nuclear program because we have no choice because of what China is doing what Russia is doing in particular and so we have a very big number and for that now at the same time Russia and China both want to negotiate with us to stop this craziness of spending billions and billions of dollars on nuclear weapons but the only way until we have that agreement the only thing I can do is

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AB 259 proposes to apply a 1% annual tax rate on individuals with a net worth of more than $50 million, and a 1.5% annual tax rate on those with a net worth of over $1 billion. The bill is accompanied by a constitutional amendment, ACA 3, as the California Constitution limits the tax rate on personal property to 0.4%.
Now, President Bidens Budget will cut taxes for working families and lower deficits by trillions of dollars over a decade by making the wealthy and big corporations pay their fair shareand no one earning less than $400,000 per year will pay a penny in new taxes.
The president wants to impose a minimum 25% tax on Americans worth over $100 million. President Biden wants to raise taxes on Elon Musk, Jeff Bezos, and their cohort of Americans, who are amassing extraordinary wealth that is not taxable under current law.
WEALTH TAX The legislation proposes that every resident taxpayer with net assets of $1 billion or more on Dec. 31 of each year will be required to recognize gains or losses on each asset as if it had been sold at fair market value on that date. The net gain would be taxed at the individual income tax rate of 4.95%.
A person or body who can be held accountable for carrying out a duty is considered responsible.
Increases the Child Tax Credit for 66 Million Children. The American Rescue Plans expansion of the Child Tax Credit helped cut child poverty nearly in half to a historic low and narrowed racial disparities in access to the credit in 2021.

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