skip to main content
skip to newscasts

Monday, March 4, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Democracy Trailblazers ignite enthusiasm among teen voters; CA monster blizzard batters Tahoe, Mammoth, Sierra amid avalanche warnings; MN transportation sector could be next in line for carbon-free standard; IN teachers 'stunned' by lawmakers' bid to bypass collective bargaining.

view newscast page
play newscast audioPlay

Nikki Haley says she may not endorse the GOP nominee, President Biden says the U-S will continue air-dropping aid into Gaza and more states look at ditching the electoral college for a national popular vote.

view newscast page
play newscast audioPlay

Hard times could be ahead for rural school districts that spent federal pandemic money on teacher salaries, a former Oregon lumber community drafts a climate-action plan and West Virginians may soon buy raw milk from squeaky-clean cows.

Report: Billionaires Tax Could Help Ensure Basic Needs for Granite Staters

play audio
Play

Monday, April 18, 2022   

This Tax Day, advocates for working families are calling on Congress to pass a billionaires income tax, so the richest Americans pay the same share of their wealth generation as working families.

A new report from Americans for Tax Fairness and Healthcare for America Now found during the pandemic, the number of billionaires in the U.S. increased from 614 to 741.

Margarida Jorge, executive director of Healthcare for America Now, noted their collective wealth has gone up by $2 trillion, a 70% increase.

"People were really struggling with job loss, loss of health care," Jorge pointed out. "But this layer of people actually prospered during the pandemic, and one thing that I think a lot of people don't know is that the tax system is pretty rigged to help rich people hold onto their money."

The report showed the richest Americans often generate wealth from their existing wealth, what is known as capital gains. Opponents of a billionaires tax say these are unrealized gains and not income, but proposals from the Biden administration and Sen. Ron Wyden, D-Ore., would tax them more like the way working families' incomes are now.

Zandra Rice Hawkins, executive director of Granite State Progress, argued two-thirds of likely voters support a billionaires tax, including more than 60% of independents.

"Many of our families are barely able to keep our heads above water," Rice Hawkins emphasized. "And we really do want these investments in health care and child care, college education, housing. There are so many ways that families in our state could really benefit if we could close these tax loopholes."

The report also singled out an investigation last year by ProPublica, which looked at IRS data and found between 2014 and 2018, wealthy individuals like Elon Musk, Jeff Bezos and others paid zero federal income tax and the top 25 billionaires paid a 3.4% tax rate.

Jorge added coming up on the third year of the pandemic, many policies put in place to help working families, especially those who had lost health care because of a change in job or income, have expired or are set to expire. She stressed the revenue from a billionaires tax could help keep them going.

"We don't have to be facing that cliff," Jorge contended. "We don't have to face the prospect of people not getting affordable coverage, or people's premiums going up or, you know, frankly, people in Medicare not having dental vision and hearing coverage. We actually could provide those things."


get more stories like this via email
more stories
A study by Wallethub ranked Kentucky 43rd in the nation for residents' dental health. (Adobe Stock)

Health and Wellness

play sound

A bill moving through the Kentucky Legislature would make fluoride treatment in drinking water optional for local municipalities. House Bill 141 …


Social Issues

play sound

Most teenagers eagerly anticipate turning 16 to start driving and 21 for other milestones, but the significance of obtaining the right to vote at 18 …

Social Issues

play sound

New York state lawmakers have appointed members to the Community Commission on Reparations Remedies, created through legislation Gov. Kathy Hochul …


A National Committee for Responsive Philanthropy report illustrated how some wealth was built through discriminatory practices including racially restrictive deed covenants. (Adobe Stock)

Social Issues

play sound

A new report argued many charitable foundations need to examine the origin of their wealth and repair harms done. The National Committee for …

Environment

play sound

A proposed urban reforestation program in Massachusetts aims to help cities mitigate the effects of climate change. Legislation would create a state …

One in four Wyoming kids lives in single-parent families, according to Wyoming Community Foundation data. Such children are more likely to live in poverty compared with their peers in married-parent families. (Adobe Stock)

Social Issues

play sound

A Wyoming nonprofit is helping single mothers climb out of poverty by connecting them with the training and support they need to step into and succeed…

Social Issues

play sound

Ahead of Super Tuesday, a new poll finds a majority of Mainers support replacing the Electoral College system with a national popular vote. More …

Social Issues

play sound

Even though March is barely underway, parents of Wisconsin kids are being encouraged to plan for summer reading activities - especially if their …

 

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