Several lawmakers from high-tax states like New York are pushing for changes to a key tax deduction in Democrats’ $3.5 trillion spending package.
Kent Nishimura/Los Angeles Times via Getty Images
The 2017 tax cuts put a $10,000 cap on the deduction for state and local taxes. The richest households would see the biggest gains from eliminating or raising the cap.
Child care and preschool are a strain on family budgets.
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The federal government spends about US$2,500 a year on child care and early education per child under 5, about half of the European average.
Johannesburg’s economic hub, Sandton, lies right next to the sprawling and extremely poor Alexandra township.
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Wealth inequality in South Africa is not only intolerably high, its also not reducing.