Republicans and Democrats have committed to making this family-friendly government benefit a little more generous. Unless lawmakers act, it will get much smaller in 2026.
Jonathan Barrett, Te Herenga Waka — Victoria University of Wellington y Lisa Marriott, Te Herenga Waka — Victoria University of Wellington
The National Party’s tax package may be a middle-income vote winner, but it avoids the core problem of tax-free wealth. And how much the new system would cost to operate is far from clear.
A tax credit expansion played a big role in child poverty reduction. But the government’s failure to reach all eligible Americans meant many families never got that temporary benefit.
Taxes are more than mandatory payments required by governments. Understanding the essential aspects of taxation can help prevent ethically and legally questionable taxes from being imposed.
The western media has been reporting on Xi Jingping’s supposed ideological turn on bringing prosperity to all of China’s people. But his rule has seen sustained and large tax cuts on the wealthy.
In 1950, the top 0.01% of earners paid almost 70% of their income in taxes. By 2018, the super-rich paid proportionately less than the average for all other Americans.
The corporate tax was created on the principle that people and companies should be taxed based on what they receive in benefits – and US corporations have received an awful lot.