Opinion: Should everyone making over $400,000 per year pay their fair share of tax?

Affordable healthcare.Photo by Kampus Production from Pexels

US Whitehouse representative Pramila Jayapal is optimistic that the democrats can get Build Back Better done without the republicans and the wealthy paying their fair share. Those who earn over $400,000 per annum will see their taxes increase, while anyone earning less than $400,000 will not pay a cent more tax.

We know that some governments reward the wealthy and penalize the poor and middle-range earners, promoting food insecurity and further elevating poverty rates.

It’s the American Dream to own your own home. Is that still possible for your children and grandchildren? Will your aging body require you to sell your home to pay for medical and care bills? What happens if you don’t have a home to sell?

President Biden’s Build Back Better bill offers solutions to the problems above. Childcare, free preschool for 3-4-year-olds, affordable housing, and high-quality yet affordable healthcare for older Americans and people with disabilities in their homes.

Representative of the Whitehouse, Pramila Jayapal, in an interview recorded 12 Jan 2022 on CNBC’s Squawk Box, is optimistic the democrats can carry the bill forward without the help of the republicans.

Build Back Better will provide universal childcare, universal pre-K (preschool), investments in housing, it will continue to drive economic recovery, just as the American Rescue Plan did. My hope is that we get it done in the next several weeks, certainly within the next month. Pramila Jayapal

Photo by Yan Krukov from Pexels

Do you feel cheated by a system that created corporations, investments funds, millionaires, and billionaires? The Build Back Better Framework will be paid for by the wealthiest Americans and large American corporations. They’ve previously enjoyed tax breaks or even zero tax. The US government will ensure tax dodgers will no longer transfer jobs and profitable business overseas. And existing laws will ensure the highest American earners pay their taxes.

The Whitehouse states the Build Back Better framework is fully paid for with:

Combined with savings from repealing the Trump Administration’s rebate rule, the plan is fully paid for by asking more from the very largest corporations and the wealthiest Americans. The 2017 tax cut delivered a windfall to them, which would help reverse that — and invest in the country’s future. No one making under $400,000 will pay a penny more in taxes.

In your opinion, should everyone making over $400,000 per year pay their fair share of tax to pay for Build Back Better?