A core component of President Biden's failed Build Back Better plan was the extension of the expanded child tax credit. The American Rescue Act, which was signed into law in March 2021, expanded the child tax credit for one year. The credit was expanded in
The various policy initiatives from stimulus to child tax credits benefited my family immensely.
A compromise to consider with regards to wealth tax. Tax stagnant and leveraged wealth at 50%. Offer a credit for domestic investment with tangible requirements such as return, projected return, equity and climate considerations.
Any middle class person complaining of big government should be asked if they considered returning the funds received through stimulus, increased tax credits, and sustained jobs through the PPP initiative.
The Main Street American was starting to get their bailout. They just aren’t sophisticated enough yet to understand how.
You’re on an impressive roll, Judd. Here’s a thought. I have a feeling the child tax credit issue isn’t going to help us achieve the tax law change needed to close or even narrow the buy, borrow, die loophole. I have spoken to too many people who have said things like ‘how do we know families are spending it on basic needs,’ ‘it’s an urban problem,’ ‘if you can’t afford kids, don’t have them,’ ‘elder poverty is just as bad as child poverty and there is no new credit for them,’ among others. Some of this points to people having an underlying ‘what’s in it for me’ jealousy, while others actually have these opinions for reasons of their own. It’s a lot to debunk. Let’s tackle urban. I’d like to see data that includes the whole US as well as data that excludes urban centers. There are several source definitions of urban. FiveThirtyEight’s formula calculated how urban or rural a state is. The 10 least urban in order are AR, WV, ND, ME, MS, VT, AK, SD, MT, WY. The 15 least urban in order adds NM, KY, AL, ID, IA. It could be persuasive to show the percent of people/families living in poverty, the percent that received the child tax credit, and the return to poverty if any. It’s no secret that rural areas tend to be Republican. They need to see how Biden programs helped THEM and how their senators killed further help.
I sent myself this piece to use as a reference in the book I’m writing about the outcomes of 60 former gifted children and the role social capital and “wealth” play in who lands best on their feet. Financial insecurity and poverty that are either generational or due to harmful life circumstances affecting parents can stifle opportunities to even be discovered as bright or gifted. We’re in a dangerous and damaging spiral downward that started with “trickle down” economics. Keep up the good work, Judd. The main body of voters still doesn’t see what’s happening or is continuing to happen.
I'm appalled by the information in your spreadsheet, and the comparison to how $$ would have helped the child tax credit. Thank you for making it so clear. NR
It’s all about oligarchs. Look at Ukraine: devastation and death by Russia which is led by oligarchs. It doesn’t matter whether your name us Putin or Musk: the oligarchs play a huge part in the instability in the world. Oligarchs such as the Kochs and the DeVos’ contribute to tearing down the public school system and the number of guns and gun violence in the US. Oligarchs assist with the death of democracy.
Still haven't seen a good articulation of how the proposed tax on unrealized gains of wealthy people would work. What happens in the scenario we are literally watching in real time right now with former Peloton Interactive Inc. ($PTON) CEO and now-Chairman John Foley who appears to be getting margin-called into oblivion now that PTON stock has fallen 80% in value? Not defending rich billionaires by any stretch but this proposal is riddled with issues: https://www.businessinsider.com/tech-selloff-stock-pledge-margin-call-loans-banks-2022-3.
Thank you for providing a balance to (my) outrage, hopelessness. Have you read the Intercept report on Joe Manchin's "secret" financial agenda? I'll try to link it: /Users/valeriemeluskey/Desktop/theintercept.com:.webloc
It is incredibly frustrating when it feels we, the people, can take no steps towards justice other than voting—a crap shoot. Anyone have any ideas about construction action?
Thank you for writing.
The various policy initiatives from stimulus to child tax credits benefited my family immensely.
A compromise to consider with regards to wealth tax. Tax stagnant and leveraged wealth at 50%. Offer a credit for domestic investment with tangible requirements such as return, projected return, equity and climate considerations.
Any middle class person complaining of big government should be asked if they considered returning the funds received through stimulus, increased tax credits, and sustained jobs through the PPP initiative.
The Main Street American was starting to get their bailout. They just aren’t sophisticated enough yet to understand how.
Subscribing because you get results! Thank you.
You’re on an impressive roll, Judd. Here’s a thought. I have a feeling the child tax credit issue isn’t going to help us achieve the tax law change needed to close or even narrow the buy, borrow, die loophole. I have spoken to too many people who have said things like ‘how do we know families are spending it on basic needs,’ ‘it’s an urban problem,’ ‘if you can’t afford kids, don’t have them,’ ‘elder poverty is just as bad as child poverty and there is no new credit for them,’ among others. Some of this points to people having an underlying ‘what’s in it for me’ jealousy, while others actually have these opinions for reasons of their own. It’s a lot to debunk. Let’s tackle urban. I’d like to see data that includes the whole US as well as data that excludes urban centers. There are several source definitions of urban. FiveThirtyEight’s formula calculated how urban or rural a state is. The 10 least urban in order are AR, WV, ND, ME, MS, VT, AK, SD, MT, WY. The 15 least urban in order adds NM, KY, AL, ID, IA. It could be persuasive to show the percent of people/families living in poverty, the percent that received the child tax credit, and the return to poverty if any. It’s no secret that rural areas tend to be Republican. They need to see how Biden programs helped THEM and how their senators killed further help.
I sent myself this piece to use as a reference in the book I’m writing about the outcomes of 60 former gifted children and the role social capital and “wealth” play in who lands best on their feet. Financial insecurity and poverty that are either generational or due to harmful life circumstances affecting parents can stifle opportunities to even be discovered as bright or gifted. We’re in a dangerous and damaging spiral downward that started with “trickle down” economics. Keep up the good work, Judd. The main body of voters still doesn’t see what’s happening or is continuing to happen.
I'm appalled by the information in your spreadsheet, and the comparison to how $$ would have helped the child tax credit. Thank you for making it so clear. NR
It’s all about oligarchs. Look at Ukraine: devastation and death by Russia which is led by oligarchs. It doesn’t matter whether your name us Putin or Musk: the oligarchs play a huge part in the instability in the world. Oligarchs such as the Kochs and the DeVos’ contribute to tearing down the public school system and the number of guns and gun violence in the US. Oligarchs assist with the death of democracy.
It would be refreshing if just once a billionaire broke from the pack and outed this whole scam.
If I had 1 wish, it would be that I could make every American read your newsletter. Each one would be a little bit smarter for it.
Really disgusting about the ‘bootstraps’ mentality and negating the common good that is responsible in large part to any means of wealth.
Terrific report, Judd!
Great reporting!!!
We created this dashboard that shows the number of children in poverty by county, their senators and billionaires in the country. The contrast from extreme wealth to hunger in America is striking. https://demlabs.maps.arcgis.com/apps/dashboards/69d90acecff142999e94813e8f76db14
Too often the elected official works for who lines their pocket.
Why is campaign finance reform never near the top of any agenda from either party
We know the answer. On the take, both sides of the aisle. Some just hide it better.
Still haven't seen a good articulation of how the proposed tax on unrealized gains of wealthy people would work. What happens in the scenario we are literally watching in real time right now with former Peloton Interactive Inc. ($PTON) CEO and now-Chairman John Foley who appears to be getting margin-called into oblivion now that PTON stock has fallen 80% in value? Not defending rich billionaires by any stretch but this proposal is riddled with issues: https://www.businessinsider.com/tech-selloff-stock-pledge-margin-call-loans-banks-2022-3.
Thank you for providing a balance to (my) outrage, hopelessness. Have you read the Intercept report on Joe Manchin's "secret" financial agenda? I'll try to link it: /Users/valeriemeluskey/Desktop/theintercept.com:.webloc
It is incredibly frustrating when it feels we, the people, can take no steps towards justice other than voting—a crap shoot. Anyone have any ideas about construction action?