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Is how can republicans and the white house propose a bill that would simultaneously cut taxes for the wealthiest americans while effectively creating more of a financial burden for americans earning less than $30,000 a year? yeah. the bottom line is that the white house, the president is not going to sign a bill that raises taxes on the middle class, period. okay. but here is the nonpartisan tax policy center saying something very different. some taxpayers would pay more in taxes under the proposal in 2019 and 2025. about 9% of taxpayers in 2019, 12% in 2025. in 2027, however, taxes would increase for 50%, that s half, of taxpayers. and who would get their taxes hiked? the middle income quintile, folks right in the middle, 28% would receive a tax cut and 66% would face a tax increase. in other words, 2/3 of people in the middle of earners would see a higher tax bill. taxes up. raising your taxes. in contrast, the tax policy center notes that 98% of the top ....
While effectively creating more of a financial burden for americans earning less than $30,000 a year? yeah. the bottom line is that the white house, the president is not going to sign a bill that raises taxes on the middle class, period. okay. but here is the nonpartisan tax policy center saying something very different. some taxpayers would pay more in taxes under the proposal in 2019 and 2025. about 9% of taxpayers in 2019, 12% in 2025. in 2027, however, taxes would increase for 50%, that s half, of taxpayers. and who would get their taxes hiked? the middle income quintile, folks right in the middle, 28% would receive a tax cut and 66% would face a tax increase. in other words, 2/3 of people in the middle of earners would see a higher tax bill. taxes up. raising your taxes. in contrast, the tax policy center notes that 98% of the top 0.1% which would be the richest of the rich would of course get a tax cut. and democrats in progressive groups are using republicans own tax plan i ....
Happening less and less in the united states compared to a lot of western country. in canada, like you said, you can go from the lowest quintile of income to the highest. and the correlation between your parents income and your income is half as strong in canada. so regardless of what your parents do, you can have a better chance of making it. that s a very important one. because what it strikes at it seems to me in large part is education. rich people s kids in america get a better education because our public education system is funded by local property taxes. that s right. whereas in canada, no matter whether you re rich or poor, you re going to get a school that s about as good and at a very high quality. we like to think that some of our best universities compare to harvard, yale or princeton. i don t think they re quite at that level. across the board, universities that are very accessible are world renowned good institutions and you can go through it ....
Capitalism is liberty, libertarian but the best system we have for generating broadly shared prosperity. if that is becoming less true going forward. if we see much more income going to capital owners, superman class that captures a huge amount of innovation in our society. but you re not focusing on the average worker who is having difficulty finding a job and so forth. and the reason is because you have these redistribution schemes that are taking all this money and giving it to the poor and creating a dependent class of fourth generation welfare recipients. this is a travesty in america. john: why is it a problem if the top 1% are filthy rich. income is up, this graph shows, it s way up, 230% for the top 1%. but the lowest quintile, income ....
And if we are free, there will be inequality. and the important thing is the quality. people born poor don t necessarily stay poor. most gradually move up and here is part of a video made by the institute for humane studies. when you look at households in the bottom quintile, we see about 45% of them have moved up to higher quintile. about 42% in 1987 had fallen to a lower quintile by 1993. there s a lot of truth to that in a good economy if you look at the most robust economic history and if you look worldwide, a lot of countries rose out of poverty. and we are talking about gross ....