Sinema's attack on Biden's tax plan may be great news for the 1 percent
Yet again, the rich are winning.
If Sen. Kyrsten Sinema successfully blocks key tax increases at the core of President Bidens agenda, as she reportedly aims to do, guess who some of the biggest winners will be? The top 1 percent, who have done fabulously well throughout much of the contemporary era.
The Arizona Democrat reportedly opposes raising corporate tax rates and high-end income taxes, a major hurdle as Democrats negotiate a deal on Bidens multitrillion-dollar social policy bill. How bad is this?
Its pretty bad. In addition to offsetting the plans spending on health care, education, child care and other important public goods, these reforms are critical to rebalancing our badly out-of-whack political economy. That in turn is needed to restore a sense that liberal democracy can deliver amid rising illiberalism and authoritarianism.
https://www.washingtonpost.com/opinions/2021/10/21/sinema-tax-hikes-reconciliation-1-percent/