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The researchers wrote: "Accounting for sophisticated evasion increases unreported income of the top 1% of the income distribution in 2006–2013 by 50%, and increases the top 1% fiscal income ...
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
The third payment, part of President Joe Biden's $1.9 trillion American Recovery Plan, was signed into law in March 2021. In total, American households received more than 476 million pandemic ...
The national debt hit a record $35 trillion this year. Our national debt has been growing almost continuously for at least 70 years under both parties. ... That’s more than 15% of individual ...
$31.4 Trillion debt ceiling limit Reached on January 19, 2023 . During Biden's first two years as president, the House and Senate were both controlled by the Democratic Party. In October 2021, the debt ceiling was increased by $480 billion, as a temporary measure requiring fresh legislation by December 3, 2021. [59]
On PBS, Jamie Dimon described the Buffett Rule as a good idea for clamping down on US debt. It says richer households shouldn't pay taxes on a smaller share of income than middle-class ones.
The IRS estimated that the national tax gap was $688 billion in 2021, up 14.4% from $601 billion in 2020 and nearly double from $345 billion in 2001.It attributed the tax gap increase to a growing ...
In 2011, the Congressional Research Service said the current U.S. tax system violates the Buffett rule as “roughly a quarter of all millionaires (about 94,500 taxpayers) face a tax rate that is ...