One of the touted benefits of “Plan B” is that it only raises taxes for those making $1 million or more. As Eric Cantor said this morning, the plan would raise revenue “without hurting many small businesses” or taxpayers.
But a closer look at the tax impacts of Plan B shows that while it raises taxes on most million-plus earners, it also raises takes for many low-income earners.
According to the Tax Policy Center, the tax code adjustments contained in Speaker Boehner’s ‘Plan B’ proposal would only bestow a tax cut on those making between $200,000 and $500,000 annually. Worse, approximately 20 percent of those making $20,000 or less will see their taxes increase by $1,070 - an increase of at least five percent for each taxpayer.
22:55 // 1 year ago
» Time for Plan C: The manufacturer of the drug, Teva Women’s Health (unrelated to the sandal manufacturer), had requested FDA approval to allow unrestricted, over-the-counter sale of Plan B One-Step (currently, girls below the age of 17 must obtain a prescription before purchasing the drug). The FDA approved it, but Sebelius, citing “significant cognitive and behavioral differences between older adolescent girls and the youngest girls of reproductive age,” ordered the FDA to revoke its approval.
18:40 // 2 years ago