The city of Oakland, Calif., has just launched a universal basic income program, providing low-income families $500 per month, with absolutely no strings attached regarding how they must spend it. Unless you aren’t eligible for the program because you’re white. it is the first program to limit participation strictly to Black, Indigenous and people of color communities. So, if you’re poor, white, and live in Oakland, California, you still gotta check your privilege because… white supremacy… I guess? having a race-based requirement is racist no matter how you look at it. Imagine if a privately funded UBI program was limited to white families. Wouldn’t that be racist? Of course, it would! Looks like the new American motto is “Just suck it, and be poor, because you’re white.”
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The White House will propose $1 trillion worth of new taxes, according to Sarah Bianchi, head of U.S. public policy and political strategy at Evercore ISI and the former director of economic and domestic policy for then Vice President Joe Biden.Officials including Treasury Secretary Janet Yellen have started suggesting what will be in the White House plan. Bianchi says hiking the corporate tax rate to 28% from 21%, establishing a global minimum tax and raising what’s called the global intangible low-taxed income rate to 21% will be in his plan. The plan will probably include nearly doubling capital-gains taxes on those with income over $1 million, and likely will include taxing unrealized gains at death, ending carried interest and raising the top individual income-tax rate. Also will include restoring the 2009 estate tax policies, limiting individual deductions, phasing out some business income deductions and establishing a financial transactions tax.
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