Jim VandeHei and Mike Allen write for Axios about the simple math that doesn't add up in Washington. Spoiler alert, the Republicans' $5 trillion in tax cuts proposal will not lower the debt.
The US government spent more during President Donald Trump's first month in office than it did during the same period a year ago, in a sign his cost-slashing effort has yet to reduce the nation's heavy fiscal obligations, a Reuters analysis of federal data shows reut.rs/3EWYnQO[image or embed]
-- Reuters (@reuters.com) February 26, 2025 at 9:40 AM
"How do you give tax breaks to those who don't pay taxes in the first place."
You mean like Amazon, paying no Federal income taxes.
How do we give them a bigger tax cut than that?
Easy. Give them a rebate.
""Instead of paying $16.4 billion in taxes, as the new 21 percent corporate tax rate requires, these companies enjoyed a net corporate tax rebate of $4.3 billion" publicintegrity.org
"Low-income earners have a special place and should be subsidized by higher income earners."
Is Amazon a low income earner?
"Amazon paid a tax rate of just 1.2% last year, versus 14% for average Americans"
From 2019. www.cbsnews.com
Amazon Reports 6 Percent Tax Rate on $35 Billion of US Income
From 2022. itep.org
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