Tax the Rich; New Tax Havens; Washington Insiders; Dialing for Dollars | 60 Minutes Full Episodes
60 Minutes・2 minutes read
Congress debates raising taxes on the wealthy post-elections, with President Obama advocating for maintaining Bush tax cuts for most but not the top 2% to reduce the deficit. David Stockman suggests eliminating all Bush tax cuts, criticizing both parties for misleading the public, while Washington State's proposed income tax on the wealthy aims to generate $3 billion for education, sparking debates on its impact.
Insights
- President Obama advocates maintaining the Bush tax cuts for most but not the top 2% to reduce the deficit, while David Stockman suggests eliminating all cuts, criticizing the Republican party's anti-tax stance.
- Companies exploit tax loopholes by shifting profits overseas, prompting scrutiny from lawmakers like Congressman Lloyd Doggett, who aims to change tax laws to ensure companies pay taxes based on where decisions are made.
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Recent questions
What is the purpose of Washington State's Initiative 1098?
To impose an income tax on the wealthy.
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