You can watch this episode of Right Now With Perry Bacon above or by following this show on YouTube or Substack. You can read a transcript here.
Democrats are pushing a variety of new tax ideas. Party officials at the state and federal levels are proposing big hikes on income taxes for the wealthy. Senators Bernie Sanders and Elizabeth Warren have rolled out new versions of their wealth tax proposals. Activists are trying to get a measure on California’s ballot that would impose a one-time wealth tax on billionaires there. Meanwhile, some of these same Democrats are also pushing tax cuts. Senators Cory Booker and Chris Hollen want to drastically cut taxes for the middle and working classes, while Georgia gubernatorial candidate Keisha Lance Bottoms is proposing to exempt teachers from paying state income taxes. Bharat Ramamurti, who worked on Warren’s 2020 campaign before taking a senior post in the Biden White House, says that the tax increase proposals are strong and much-needed. But in the latest edition of Right Now, he raises some concerns about the tax cuts as being too large and potentially leaving too little money for more urgent priorities, such as restoring Medicaid funding that has been cut by the Trump administration.
