Thursday, March 30, 2023

Play

Nebraska attorneys develop a workers rights program, the FDA approves over-the-counter sales of the overdose-reversing drug Naloxone, and mayors look for new ways to partner with the federal government.

Play

The Senate repeals authorization of military force in Iraq, the former CEO of Starbucks testifies about the company's worker policies, and Kentucky overrides the governor's veto of gender-affirming care for children.

Play

Small towns respond to a hidden housing and homelessness crisis, a new national weather prediction system will help close the gap between urban and rural forecasting, and more rural communities are eligible for a design project to boost economic development.

WV Could Gain $335 Million a Year from Billionaire Income Tax

Play

Thursday, April 21, 2022   

State advocacy groups say West Virginia stands to gain from taxing billionaires.

The Biden administration's "Billionaire Minimum Income Tax" would ensure that American households worth more than $100 million pay a tax rate of at least 20% of their full income.

Executive Director of West Virginia Citizen Action Gary Zuckett said the move could add between $220 and $335 million a year in federal grants to the state's budget.

Zuckett explained that federal grant funds to pay for state programs and services - such as Medicaid and CHIP, Head Start, and food and nutrition programs.

"Corporations and the extremely wealthy should be paying their fair share of taxes," said Zuckett. "And that revenue should be used to help pay down the debt and help lower drug prices and help deal with the climate. The majority of West Virginians and the majority of taxpayers across the country would agree with that."

He added that legal loopholes often allow the nation's wealthiest to pay little or no federal income tax, while allowing them to generate untaxed income from their investments.

An expose' last year by ProPublica based on IRS data revealed that for the past several years, Elon Musk, Jeff Bezos and other top billionaires paid zero federal income tax.

Census data shows West Virginia has one of the highest poverty rates in the nation. Zuckett said the country's broken tax system has worked against residents.

"Working families in West Virginia pay taxes on every dollar they earn," said Zuckett. "And so the billionaires and the millionaires in this country should pay taxes on every dollar they earn, just like we do."

An Oxfam report published earlier this year found that wealth of the world's ten richest men has doubled since the start of the pandemic - skyrocketing to more than $13 trillion as of last November, an increase larger than that seen in the previous decade-and a-half combined.




Disclosure: West Virginia Citizen Action Education Fund contributes to our fund for reporting on Budget Policy & Priorities, Environment, Health Issues, Social Justice. If you would like to help support news in the public interest, click here.


get more stories like this via email
The report outlines ways that higher education could be creative and flexible with how schools are using their platforms to reach students. (Adobe stock)

Social Issues

New findings confirm suspicions about the top reasons many students considered dropping out of college over the last six months. The Gallup and …


Social Issues

Two reports confirm a troubling trend in terms of Black students attending college. According to the University System of Georgia, enrollment among …

Health and Wellness

States such as Minnesota continue to grapple with recent spikes in fatal overdoses tied to opioids. Now, a federal agency has taken what aid groups …


The Warrior Way Back program at Wayne State University works with older students who may have families or jobs competing for their study time. (digitalskillet/Adobe Stock)

Social Issues

Everyone starts college with pretty much the same dream - to earn a degree and have a better life. But sometimes life gets in the way, and dreams get …

Social Issues

Food assistance is integral for families - but it's also important that the food available makes sense culturally. The American Heart Association …

The Castner Range contains cultural sites that document the history of Native tribes, while also providing habitat for wildlife such as the golden eagle, mountain lions and the western burrowing owl. (Dale/AdobeStock)

Environment

A celebration will be held in El Paso Friday after five decades of activism paid off, when President Joe Biden designated Texas' Castner Range a …

Social Issues

The Iowa Senate has advanced a bill to outlaw handling a cellphone while driving. The state already has a distracted driving law, but it allows …

Social Issues

With an average hourly wage of under $15 in 2021, many Nebraska agricultural workers would be hard-pressed to afford an attorney if they needed one …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021