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From: JAB <here@is.invalid>
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Subject: Re: the rich white civil war
Date: Mon, 17 Feb 2025 07:42:05 -0600
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On Mon, 17 Feb 2025 11:45:15 +0100, D <nospam@example.net> wrote:

>single flat corporate tax rate of 21%

"Since January 1, 2018, the nominal federal corporate tax rate in the
United States of America is a flat 21% following the passage of the
Tax Cuts and Jobs Act of 2017"

I believe the above was for a period of time, and has to be renewed.

>raised the standard deduction for individuals... 

"Each year, the IRS updates the standard deduction to keep up with
inflation, so it tends to increase over time."

"The Tax Cuts and Jobs Act nearly doubled the standard deduction and
eliminated or restricted many itemized deductions in 2018 through
2025. It also eliminated the "Pease" limitation on itemized deductions
for those years"

She said, "Some facts about the upcoming tax cuts" which are suggested
below.

2025 Budget Stakes: High-Income Tax Cuts, Price-Hiking Tariffs Would
Harm Families

High-income households and profitable corporations would grow even
wealthier under Republican proposals for trillions of dollars in new
or extended tax cuts, even as Republican proposals for trillions of
dollars of cuts to health assistance, food assistance, and other
programs would leave more children in poverty, more families without
stable housing, and more people without health coverage. Families
would also face an additional burden: higher prices for many basic
goods due to the tariffs that President Trump has begun to impose,
which would act as a large tax increase on U.S. consumers.

https://www.cbpp.org/research/federal-tax/2025-budget-stakes-high-income-tax-cuts-price-hiking-tariffs-would-harm