‘Kennedy’ host and panelists debate the factors driving the 31-year high inflation rates.
President Biden’s signature social spending and climate bill promises to offset nearly $2 trillion in spending with higher taxes on corporations and the wealthiest Americans, but a new analysis shows how the U.S. economy would actually lose more in revenue than is generated in the long run.
The newest “Build Back Better” proposal – pared down from the original $3.5 trillion request – would expand Medicaid, establish universal preschool, provide new funding for child care and offer green energy tax credits, though it notably omits progressive priorities like free community college and Medicare coverage of dental and vision. It relies on $1.95 trillion in new taxes, including a 15% corporate minimum and a 5% surcharge aimed at incomes above $10 million and an additional 3% on incomes above $25 million.
The White House has billed…