India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
The bigger picture about the Trump Tax Cuts is the looming fiscal crisis driven by the growing convergence of runaway tax cutting since 2001, chronic escalating defense and war spending, more frequent deeper crashes of the economy with slower economic growth between, and now since 2022 accelerating trillion dollar annual interest costs on the U.S. national debt.
On why Trump’s proposals to Russia, Europe and Ukraine to begin negotiations and end the war collapsed at the recent London meeting.
If the US Congress imposes a minimal financial transaction tax, that would generate $2.4T in revenue. It would pay for both the new spending proposals in the Infrastructure bill ($.55T) as well as the Build Back Better bill proposal still on the negotiating table ($1.9T)
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