AXIOS (Holly Otterbein) - Dems eyeing 2028 want huge tax cuts — but big hikes for the rich
Some Democrats eyeing runs for the White House have rolled out a provocative new economic policy: massive tax cuts for the working and middle classes — and big hikes for the wealthy. Why it matters: Republicans may lose the midterm elections because of voters' anger over high prices, but Democrats are still struggling to figure out how to address voters' concerns about inflation. Driving the news: The proposals by Democratic presidential hopefuls include eliminating federal income taxes for half of all U.S. workers, making the first $75,000 of income earned by married couples tax-free, and enacting a variety of state-based tax cuts and credits. - Critics argue that some of the plans would squander funds that should be spent on social…
Some Democrats eyeing runs for the White House have rolled out a provocative new economic policy: massive tax cuts for the working and middle classes — and big hikes for the wealthy. Why it matters: Republicans may lose the midterm elections because of voters' anger over high prices, but Democrats are still struggling to figure out how to address voters' concerns about inflation. Driving the news: The proposals by Democratic presidential hopefuls include eliminating federal income taxes for half of all U.S. workers, making the first $75,000 of income earned by married couples tax-free, and enacting a variety of state-based tax cuts and credits. - Critics argue that some of the plans would squander funds that should be spent on social…Open