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Sunday, 1 August 2021

Raising taxes to fund national projects, how does the U.S. compare with other countries

Credit: 23ABC News | Bakersfield
Duration: 02:21s 0 shares 2 views
Raising taxes to fund national projects, how does the U.S. compare with other countries
Raising taxes to fund national projects, how does the U.S. compare with other countries

It’s no secret President Biden wants to raise taxes on some wealthier Americans and on corporations in order to fund massive projects like paid family leave and infrastructure reform.

But how does the U.S. compare to other countries when it comes to funding these programs. Our Joe St.

George has those details

WEALTHIER AMERICANS AND ONCORPORATIONS IORDER TO FUND MASSIVE PROJECTSLIKE PAID FAMILY LEAAND INFRASTRUCTURE REFORM.

BUTHOW DOES THE U.S. COMPARE TOOTHER COUNTRIES WHEN IT COMES TOFUNDING THESE PROGRAMS.OUR JOE ST.

GEORGE HAS THOSEDETAILSFREE COMMUNITY COLLEGE PAIDFAMILY LEAVE MODERNINFRASTRUCTURE PRESCHOOL FOR ALLALL OF THESE PROPOSALSPRESIDENT BIDEN WANTS TO PASSOVER THE NEXT SEVERAL MONTHS.AS NEGOTIATIONS CONTINUE ONCAPITOL HILL THIS WEEK ONEARGUMENT THAT PRESIDENT BIDENIS MAKING IS THE US IS LAGGINGBEHIND THE REST OF THE WORLD ONSOME THINGS AND THAT INACTIONBENEFITS AMERICA'SCOMPETITORS SO WHAT ARE THOSECOUNTRIES OFFERING THEIRCITIZENS.

LET'S EXAMINE PARENTALLEAVE.

ALL OF THESECOUNTRIES CONSIDERED TO BEECONOMIC COMPETITORS OFTHE UNITED STATES OFFER SOMEFORM OF GUARANTEED PAIDPARENTAL LEAVE WHEN A NEW CHILDIS BORN.THE U.S. IS ONE OF THE ONLYDEVELOPED NATIONS THATDOES NOT MANDATE THIS BENEFIT.IN FACT IN THE UNITEDKINGDOM 52 WEEKS OF MATERNITYLEAVE IS GUARANTEEDBY THE GOVERNMENT IF A NEW MOMCHOOSES TO TAKEIT WITH MOST OF IT PAID.

IN THEUNITED STATES, JOBS AREPROTECTED BUT PAY IS NOTGUARANTEED.

A RECENT ANALYSISBY THE BUREAU OF LABOR ANDSTATISTICS FOUND JUST 21 PERCENTOF WORKERS HAVE ACCESS TO PAIDLEAVE.

SOME STATES, LIKECALIFORNIA, HAVE PASSED THEIROWN POLICIES BECAUSE OFINACTION AT THE FEDERAL LEVEL.PRESIDENT BIDEN'S PLANCALLS FOR 12 WEEKS OF PAIDPARENTAL LEAVE.

BENEFITS WOULDBE A PERCENTAGE OF A WORKERS'EARNINGS, WITH A MAXIMUM BENEFITOF $4,000 A MONTH.

THE COST?$225 BILLION OVER THENEXT TEN YEARS.

IT'S NOT JUSTPAID PARENTAL LEAVE WHERE THEU.S.LAGS THE WHITE HOUSE SAYS.EXPERTS SAY CHINA ISSPENDING AROUND 3 TIMES MORETHAN THE U.S. ONINFRASTRUCTURE.

WHICH HAS LEADPRESIDENT BIDEN TO SAY THIS INTHE OVAL OFFICE.

IF WE DON'T GETMOVING THEY ARE GOING TO EATOUR LUNCH OF COURSE OFFERINGTHESE PERKS WOULDREQUIRE CHANGES, IT HAS TO BEPAID FOR.

THE WHITE HOUSESAYS CORPORATE TAXES AND INCOMETAX RATES ONINDIVIDUALS MAKING OVER 400,000WOULD BE RAISED.

BUT MANYCONSERVATIVES SAY ALL THIS RAPIDSPENDING IS UNWISE ANDREPRESENTS TOO MUCH GOVERNMENT.BELIEVINGRAISING CORPORATE TAXES WOULDMAKE THE U-SWORSE OFF COMPARED TO SOME OTHERCOUNTRIES.

FORINSTANCE, IRELAND, THE UK, ANDTHE UNITED ARAB EMIRATESALL OFFER LOWER CORPORATE TAXESTHAN THE UNITED STATES.

INWASHINGTON, I'M JOE ST.

GEORGENOW TAKING A LIVE LOOK ATDOWNTOWN BAKERSFIELD ATTHIS HOUR.

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