The new tax bill proposed last week will increase general taxation from 6% to 10%. Those with incomes of $500,000 or more will be most affected by the tax legislation proposed by Charles Range, chairman of the House and Media Committee. The Charles Mountain has introduced tax bills for a variety of reasons, which makes sense. This change may reflect the new general reality of the economy and the population responsibilities of the rich.
Those who earn $1 million or more currently pay 18% of all federal taxes, but this number will rise to 20%. Similarly, the number of people with incomes between $500,000 and $1,000,000 will increase from 6.7% to 7.1%. The number of people with incomes between $100,000 and $200,000 will increase from 25.4% to 24.3%. Most of the 86 million households will benefit from the 2008 tax cuts, and 3.6 million households will pay more taxes.
Low-income families will receive more tax credits, and alternative minimum taxes may be abolished (AMT). AMT was originally designed to encourage the rich to pay taxes, and when using AMT, one cannot enjoy the benefits of a range of different bills. However, because inflation has degraded the dollar and people have earned more money, AMT has not affected millions of middle-class Americans. The use of AMT and compensation and additional wealth taxes will allow some middle-class Americans to open these tax cuts.
If the “Scope Method” is actually approved, we will not see any significant changes until 2009. As of this year, most of our current understanding of the financial world will change dramatically, and the pressure on the middle class will be reduced. Super-rich people who control public administration and public administration are likely to see new tax bill proposals.
The demographic structure of the country has changed a lot. Millions of millionaires and new millionaires are produced each year more than any other country. At the same time, the middle class is fading due to inflation, manufacturing losses and the effects of globalization. The country’s top 1% owns 38% of the country’s net assets, while the poorest 50% owns less than 5%.
The huge differences in the economy indicate that the rich are getting richer and that a large proportion of the rest of the country is getting poorer. As inflation increases, the income of the middle class is exhausted. In addition, the middle class, who does not have millions of dollars, cannot open stores, businesses or other money-making advice.
When you think that the rich have an unfair advantage and have most of the economic wealth, the new tax bill makes sense. Therefore, the rich need to pay more than their fair share, and they cannot hide in foreign accounts, tax incentives and the government’s influence on their evasion of responsibility.