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Tracking Hardship - April 14, 2023
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The Tax Day edition. Tuesday is Tax Day, and the human needs community has activities planned. The message behind the activities is that we need to raise revenues reasonably and responsibly in order to invest in a care economy. A care economy will mean hope, opportunity, and prosperity for millions of Americans.
If the wealthy and big corporations start paying their fair share in taxes, there will be more than enough revenue to support investments in paid leave, child care, and aging and disability care. But right now, that’s not happening.
According to Americans for Tax Fairness, “[T]op individual tax rates are about half of what they were 40 years ago; corporate tax revenue as a share of total tax revenue has dropped from one-third to less than 10% since the middle of the last century; some billionaires pay no federal income taxes and others pay a lower tax rate than middle-class families pay when the growth of their investments are counted; and the top 1% evades $160 billion in taxes that they owe every year.”
Far from building a care economy, some in Congress want to take us in the opposite direction. They would take food assistance and health care away from millions of Americans by subjecting them to burdensome, bureaucratic requirements. It’s their way of enacting cuts to critical needs programs – make them so difficult to access with so many hoops to jump through, that those in need can’t qualify or just give up.
On Tuesday, the Coalition on Human Needs will join Americans for Tax Fairness, MomsRising, the National Women’s Law Center, Care Can’t Wait, and Caring Across Generations for an all-day social media storm. You can see the nifty social media kit these groups have put together here – feel free to participate! Another action you can take: tell Congress to pass President Biden’s budget. It includes robust investments in a care economy, and requires corporations and the wealthy to pay more of their share.
You can share these numbers on Facebook and Twitter.
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$8.4 trillion/ $1.7 trillion
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The original George W. Bush tax cuts and their extensions will have added $8.4 trillion to the national debt by the end of this year. The 2017 Trump tax cuts will add another $1.7 trillion in debt through 2023. What's more, some in Congress want to renew cuts expiring in 2025, which would add $3 trillion more in debt. Tweet this.
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A new poll published last week by Pew Research found that 61 percent of those surveyed say that the feeling that some corporations don’t pay their fair share bothers them a lot, while 60 percent say the same thing about wealthy individuals not paying their fair share. Tweet this.
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The Biden Administration last week unveiled a 10-year, $80 billion plan for the IRS to focus on customer service and on cracking down on wealthy tax evaders. Biden is seeking to reduce the nation’s $7 trillion in uncollected tax revenue to pay for things like fighting climate change, lowering the cost of prescription drugs, and other human needs programs. More than half of the $80 billion will be dedicated to ensuring that rich investors and large corporations pay what they owe. Tweet this.
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More than 41 million Americans currently receive SNAP benefits. But more than 10 million people could lose their benefits if a proposal by Rep. Dusty Johnson (R-SD) becomes law. That includes households with millions of children. Johnson’s proposal would make it more difficult to continue to qualify for benefits by adding burdensome, bureaucratic requirements. Tweet this.
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