Elizabeth Warren Claps Back at Elon Musk

The Massachusetts senator defends her plan to tax billionaires and break up Big Tech.

#antitrust-laws-and-competition-issues, #democratic-party, #income-tax, #massachusetts, #senate, #silicon-valley-calif, #united-states-politics-and-government, #warren-elizabeth

The I.R.S. Warns of Messy Tax Filing Season

The agency, which has been hobbled by paperwork backlogs and short staffing, said tax filers should expect a lower level of service this year.

#coronavirus-2019-ncov, #federal-taxes-us, #income-tax, #internal-revenue-service, #stimulus-economic, #united-states-politics-and-government

Rift Between Wyden and Son Shows the Challenge of Taxing the Ultrarich

A dispute between Ron Wyden, the Democratic Senate Finance Committee chairman, and his hedge fund-manager son illustrates how the merely rich help the fabulously rich resist tax increases.

#biden-joseph-r-jr, #federal-taxes-us, #hedge-funds, #high-net-worth-individuals, #income-tax, #musk-elon, #senate-committee-on-finance, #tax-shelters, #united-states-politics-and-government, #wyden-ron

In Their 80s, and Living It Up (or Not)

Two octogenarians have different reactions to an essay, “Living My Life Again.” Also: “Illiberal democracy”; housing in the Bronx; rich vs. poor

#bronx-nyc, #coronavirus-2019-ncov, #deaths-fatalities, #democracy-theory-and-philosophy, #elderly, #homeless-persons, #human-rights-and-human-rights-violations, #hungary, #income-inequality, #income-tax, #legal-aid-for-the-poor-civil, #orban-viktor, #real-estate-and-housing-residential

What’s in the $2.2 Trillion Social Policy and Climate Bill

The package includes $400 billion to bolster support for children and families, $555 billion for climate change programs and $166 billion in housing aid.

#biden-joseph-r-jr, #child-care, #democratic-party, #education-pre-school, #federal-aid-us, #global-warming, #greenhouse-gas-emissions, #house-of-representatives, #immigration-and-emigration, #income-tax, #law-and-legislation, #politics-and-government, #united-states-politics-and-government

The ‘Benefits Cliff’ Discourages People From Making More Money

When low-income workers increase their paychecks, they can end up poorer.

#income-tax, #internal-sub-only-nl, #labor-and-jobs, #poverty, #tax-credits-deductions-and-exemptions, #welfare-us

Liberal Hypocrisy Is Fueling Inequality

Why do states with democratic majorities fail to live up to their values?

#affordable-housing, #california, #capital-gains-tax, #democratic-party, #equal-educational-opportunities, #illinois, #income-inequality, #income-tax, #taxation, #washington-state

Brexit Brain Drain Delivers Financial Boon to Estonia

The former Soviet satellite state is welcoming British companies looking to escape the tangle of regulations and financial obstacles of doing business in Europe.

#corporate-taxes, #england, #estonia, #european-union, #great-britain-withdrawal-from-eu-brexit, #income-tax, #kaja-kallas, #politics-and-government, #relocation-of-business

Democrats Employ Budget Gimmicks They Once Derided

Budget experts say true cost of legislation could be $4 trillion as lawmakers rely on sleights of hand to bring down the price tag.

#american-rescue-plan-2021, #corporate-taxes, #federal-budget-us, #federal-taxes-us, #income-tax, #law-and-legislation, #tax-cuts-and-jobs-act-2017, #taxation, #united-states-economy, #united-states-politics-and-government

Democrats Push for Agreement on Tax Deduction That Benefits the Rich

Lawmakers are coalescing around a deal to suspend a $10,000 cap on state and local tax deductions that was imposed during the Trump administration.

#american-families-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #high-net-worth-individuals, #income-tax, #law-and-legislation, #new-jersey, #new-york-state, #property-taxes, #tax-credits-deductions-and-exemptions, #taxation, #united-states-politics-and-government

Biden Finds Raising Corporate Tax Rates Easier Abroad Than at Home

As the Group of 20 seals a new global minimum tax for companies, the president has scaled back his plans to tax U.S. corporations more.

#biden-joseph-r-jr, #corporate-taxes, #corporations, #donohoe-paschal-1974, #europe, #federal-budget-us, #federal-taxes-us, #foreign-investments, #group-of-twenty, #house-of-representatives, #income, #income-tax, #internal-revenue-service, #national-assn-of-manufacturers, #organization-for-economic-cooperation-and-development, #patriotic-millionaires, #tax-cuts-and-jobs-act-2017, #tax-shelters, #treasury-department, #trump-donald-j, #united-states, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries, #yellen-janet-l

A Billionaire’s Tax Isn’t as Crazy as It Sounds

Parts of the existing tax code are not that different from Biden’s proposed tax on the ultrawealthy.

#high-net-worth-individuals, #income, #income-tax, #taxation, #united-states

How $2 Trillion in Tax Increases in Biden’s Bill Target Companies and the Rich

The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.

#biden-joseph-r-jr, #budgets-and-budgeting, #corporate-taxes, #corporations, #executive-compensation, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #stock-buybacks, #tax-credits-deductions-and-exemptions, #tax-shelters, #treasury-department, #united-states-politics-and-government

Billionaires Beat the Working Rich in Biden’s Spending Bill

One by one, tax proposals that would have slowed dynastic wealth have been tossed from the agreement.

#biden-joseph-r-jr, #capital-gains-tax, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #united-states-politics-and-government

How Biden’s $2 Trillion in Tax Increases Target Companies and the Rich

The proposal to fund the president’s sprawling spending plan mostly turns up the dial on more conventional tax policies, while trying to curb maneuvers that allow tax avoidance.

#biden-joseph-r-jr, #budgets-and-budgeting, #corporate-taxes, #corporations, #executive-compensation, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #stock-buybacks, #tax-credits-deductions-and-exemptions, #tax-shelters, #treasury-department, #united-states-politics-and-government

Democrats Rush to Rewrite U.S. Tax Code in Days

Lawmakers are racing to finalize legislation to pay for new spending initiatives. The process usually takes months, but they are trying to do it in days.

#capital-gains-tax, #corporate-taxes, #federal-taxes-us, #high-net-worth-individuals, #house-of-representatives, #income-tax, #senate, #tax-cuts-and-jobs-act-2017, #taxation

How Democrats Would Tax Billionaires to Pay for Their Agenda

The plan stakes out new territory by putting levies on unrealized gains in the value of billionaires’ liquid assets, such as stocks, bonds and cash.

#capital-gains-tax, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #house-of-representatives, #income-inequality, #income-tax, #law-and-legislation, #senate, #sinema-kyrsten, #united-states-politics-and-government

Democrats Hammer Out Novel Plan to Tax Billionaires and Corporate Giants

New proposals would fund social and climate programs by tapping billionaires’ unrealized gains and by ensuring that the biggest companies cannot avoid income taxes altogether.

#biden-joseph-r-jr, #corporate-taxes, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #house-of-representatives, #income-tax, #law-and-legislation, #manchin-joe-iii, #senate, #sinema-kyrsten, #tax-shelters, #united-states-politics-and-government

Proposed Tax on Billionaires Raises Question: What’s Income?

Democrats are homing in on unrealized capital gains raises as a way to help fund their social spending bill.

#biden-joseph-r-jr, #capital-gains-tax, #federal-taxes-us, #high-net-worth-individuals, #income-inequality, #income-tax, #united-states-politics-and-government, #wyden-ron

Tax Evasion and the Republican Party

By enabling resistance to lawful taxation, Republicans are undermining democracy.

#corporate-taxes, #democracy-theory-and-philosophy, #federal-taxes-us, #income-tax, #tax-evasion, #tax-shelters, #taxation

Democrats Consider Billionaires Tax

Senator Kyrsten Sinema’s refusal to accept corporate, individual or capital gains tax rate increases has led Democrats to consider proposals once championed by the party’s most liberal flank.

#biden-joseph-r-jr, #corporate-taxes, #federal-budget-us, #high-net-worth-individuals, #income-tax, #sinema-kyrsten, #tax-shelters, #taxation, #united-states-politics-and-government

Democrats Back Away From Raising Tax Rates to Pay for Agenda

Responding to concerns from a key centrist, Senator Kyrsten Sinema of Arizona, the White House and leading Democrats are instead discussing a range of other taxes to pay for the plan.

#american-families-plan-2021, #biden-joseph-r-jr, #corporate-taxes, #democratic-party, #federal-taxes-us, #income-tax, #law-and-legislation, #manchin-joe-iii, #neal-richard-e, #senate, #sinema-kyrsten, #tax-cuts-and-jobs-act-2017, #united-states-politics-and-government

The I.R.S. Can Register Voters Just as Well as the D.M.V.

You should be able to join the voter rolls when you file your taxes.

#elections, #federal-taxes-us, #income-tax, #internal-revenue-service, #tax-preparers-and-preparation, #voting-rights-registration-and-requirements

In Push to Tax the Rich, White House Spotlights Billionaires’ Tax Rates

A White House analysis using an unconventional methodology says the wealthiest Americans pay far less in taxes than others.

#biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #taxation, #united-states-economy, #united-states-politics-and-government, #yagan-danny

House Democrats’ Plan to Tax the Rich Leaves Vast Fortunes Unscathed

The House Ways and Means Committee’s proposal to pay for trillions in social spending leaves wealth gains and inheritances largely alone. It focuses instead on a more traditional target: income.

#biden-joseph-r-jr, #capital-gains-tax, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #house-committee-on-ways-and-means, #income-tax, #inheritance-and-estate-taxes, #law-and-legislation, #neal-richard-e, #senate-committee-on-finance, #taxation, #united-states-politics-and-government

House Democrats Outline Tax Increases for Wealthy Businesses and Individuals

The draft proposal includes raising the corporate tax rate to 26.5 percent for the richest businesses to help pay for President Biden’s sweeping expansion of the social safety net.

#biden-joseph-r-jr, #budgets-and-budgeting, #corporate-taxes, #democratic-party, #federal-taxes-us, #house-committee-on-ways-and-means, #income-tax, #law-and-legislation, #taxation, #united-states-politics-and-government

Democrats and Lobbyists Gird for Battle Over Far-Reaching Tax Increases

Congressional committees this week begin drafting tax increases on the wealthy and corporations to pay for a $3.5 trillion social policy bill, but the targets are putting up a fight.

#biden-joseph-r-jr, #capital-gains-tax, #corporate-taxes, #democratic-party, #federal-budget-us, #federal-taxes-us, #heitkamp-heidi, #high-net-worth-individuals, #house-committee-on-ways-and-means, #income-inequality, #income-tax, #inheritance-and-estate-taxes, #law-and-legislation, #lobbying-and-lobbyists, #senate-committee-on-finance, #tax-shelters, #taxation, #united-states-chamber-of-commerce, #united-states-politics-and-government, #wyden-ron

When to Collect Social Security: Why You Should Wait

More details on why experts advise to wait to claim benefits and on benefits for divorced spouses.

#age-chronological, #content-type-service, #divorce-separations-and-annulments, #income-tax, #individual-retirement-accounts, #kotlikoff-laurence-j, #labor-and-jobs, #pensions-and-retirement-plans, #personal-finances, #retirement, #social-security-us, #wages-and-salaries, #widows-and-widowers

Child Tax Credit Payments Have Begun. Should You Opt Out?

While the payments in advance of tax season are a welcome relief for many families, there may be reasons for others to decline the money, for now.

#child-tax-credits-and-stipends, #content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

In Case Against Trump’s Company, Echoes of His Father’s Tactics on Taxes

The first criminal prosecution involving the former president’s business hearkens back to Fred Trump’s $16,135 purchase of boilers in the 1990s.

#federal-taxes-us, #income-tax, #inheritance-and-estate-taxes, #new-york-state, #tax-credits-deductions-and-exemptions, #tax-evasion, #trump-organization, #trump-tax-returns, #trump-donald-j, #trump-fred-c, #trump-ivanka, #trump-robert-s-1948, #united-states-politics-and-government, #weisselberg-allen

Trump Organization Indictment: What We Know

Charges against the former president’s company and a top executive, explained.

#corporate-taxes, #frauds-and-swindling, #income-tax, #james-letitia, #manhattan-nyc, #tax-evasion, #trump-organization, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government, #vance-cyrus-r-jr, #weisselberg-allen

Top Trump Executive Allen Weisselberg Surrenders to Face Charges

The Trump Organization and Mr. Weisselberg have been indicted in connection with a tax investigation and are expected to appear in court later Thursday.

#corporate-taxes, #federal-taxes-us, #income-tax, #manhattan-nyc, #payroll-tax, #tax-evasion, #taxation, #trump-organization, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government, #vance-cyrus-r-jr, #weisselberg-allen

Weisselberg, ‘Soldier’ for Trump, Faces Charges and Test of His Loyalty

The Trump Organization executive is expected to be charged on Thursday, along with the company, as he comes under increasing pressure to turn on the family.

#accounting-and-accountants, #corporate-taxes, #federal-taxes-us, #florida, #income-tax, #james-letitia, #new-york-city, #real-estate-and-housing-residential, #taxation, #trump-donald-j, #united-states-politics-and-government, #vance-cyrus-r-jr, #weisselberg-allen

Trump Organization Lawyers Meet With Manhattan Prosecutors

An indictment against the business, the Trump Organization, and a top executive, Allen Weisselberg, could come as soon as this week in Manhattan.

#corporate-taxes, #employee-fringe-benefits, #executive-compensation, #federal-taxes-us, #frauds-and-swindling, #income-tax, #manhattan-nyc, #payroll-tax, #trump-organization, #trump-tax-returns, #trump-donald-j, #vance-cyrus-r-jr, #wages-and-salaries, #weisselberg-allen

What You Need to Know About the Child Tax Credit

In mid-July, millions of families will get the first of six monthly payments of as much as $300 per child from the U.S. government.

#child-tax-credits-and-stipends, #content-type-service, #federal-taxes-us, #income-tax, #tax-credits-deductions-and-exemptions

Infrastructure Bill Talks Collide With Democrats’ Goal to Tax the Rich

Many Democrats see the push for an infrastructure package as an opportunity to raise taxes on rich individuals and corporations. But resistance is coming from multiple directions.

#american-families-plan-2021, #american-jobs-plan-2021, #capital-gains-tax, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #infrastructure-public-works, #sanders-bernard, #senate, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #united-states-politics-and-government, #warren-elizabeth, #wyden-ron

Inside the I.R.S. Files of the Ultra-Wealthy

The journalist Jesse Eisinger breaks down the ProPublica investigation into how little the uber-rich pay in taxes, and what that means for the rest of us.

#audio-neutral-informative, #bloomberg-michael-r, #federal-taxes-us, #high-net-worth-individuals, #icahn-carl-c, #income-tax, #internal-revenue-service, #musk-elon, #propublica

Warren Buffett and the Myth of the ‘Good Billionaire’

There is no way to be a billionaire in America without taking advantage of a system predicated on cruelty.

#buffett-warren-e, #gates-bill, #high-net-worth-individuals, #income-inequality, #income-tax, #philanthropy, #propublica

Fat Cats on a Hot Tin Roof

Pay up, Monopoly Men; freeloading isn’t cool. 

#bezos-jeffrey-p, #buffett-warren-e, #income-inequality, #income-tax, #infrastructure-public-works, #tax-evasion, #taxation, #wealth-taxx

How Private Equity Firms Avoid Taxes

The I.R.S. almost never audits private equity firms, even as whistle-blowers have filed claims alleging illegal tax avoidance.

#apollo-global-management, #bain-capital, #biden-joseph-r-jr, #blackstone-group-the, #capital-gains-tax, #carlyle-group-lp, #federal-taxes-us, #government-accountability-office, #high-net-worth-individuals, #income-inequality, #income-tax, #internal-revenue-service, #kirklandellis, #kkrco-lp, #mnuchin-steven-t, #private-equity, #rettig-charles-p, #schwarzman-stephen-a, #tax-cuts-and-jobs-act-2017, #tax-evasion, #tax-shelters, #tpg-capital, #treasury-department, #trump-donald-j, #united-states-politics-and-government, #whistle-blowers

ProPublica Report Has Congress Rethinking How to Tax Superrich

A report showing that the richest Americans, including Jeff Bezos, Elon Musk and Warren Buffett, pay almost no taxes has refocused attention on the tax code.

#alternative-minimum-tax, #biden-joseph-r-jr, #capital-gains-tax, #corporate-taxes, #democratic-party, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #pro-publica, #propublica, #republican-party, #senate-committee-on-finance, #stocks-and-bonds, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-shelters, #taxation, #toomey-patrick-j, #united-states-economy, #united-states-politics-and-government, #warren-elizabeth, #wyden-ron

Five Former Treasury Secretaries: Fund the IRS

America loses hundreds of billions of dollars to tax evasion every year. We need to give the I.R.S. the tools to combat it.

#federal-taxes-us, #income-tax, #tax-evasion, #treasury-department, #united-states-economy, #united-states-politics-and-government

How Billionaires Used Tax Loopholes to Save Billions

A bombshell report raises questions about the tax bills of the wealthy.

#bezos-jeffrey-p, #federal-taxes-us, #icahn-carl-c, #income-tax, #labor-and-jobs, #musk-elon, #soros-george

The Real Tax Scandal Is What’s Legal

The wealthiest Americans live by a different set of rules, lavishly spending money that isn’t taxed as income.

#bloomberg-michael-r, #buffett-warren-e, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #musk-elon, #propublica, #united-states-politics-and-government

Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax

An analysis by ProPublica based on Internal Revenue Service documents showed billionaires like Jeff Bezos and Elon Musk benefited from vagaries in the tax code.

#corporate-taxes, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #taxation

Here Are Some Tips for Teenagers on Landing a Summer Job

Openings abound now but may go quickly, so it’s wise to submit applications soon. And don’t wear jeans and a T-shirt to the interview.

#american-camp-assn, #content-type-service, #coronavirus-2019-ncov, #hiring-and-promotion, #income-tax, #labor-and-jobs, #personal-finances, #summer-season

Biden Banks on $3.6 Trillion Tax Hike on the Rich and Corporations

The White House is proposing substantial increases in personal income tax rates for those earning about a half-million dollars and higher tax rates on large corporations.

#biden-joseph-r-jr, #capital-gains-tax, #corporate-taxes, #federal-taxes-us, #income-inequality, #income-tax, #taxation, #united-states-economy

Biden’s $6 Trillion Budget Aims for Path to Middle Class, Financed by the Rich

The president’s budget envisions a redistribution of wealth that will allow more Americans to enjoy prosperity, and it invests in climate change, education and infrastructure.

#american-rescue-plan-2021, #biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #income-tax, #medicare, #united-states-economy, #united-states-politics-and-government

Republicans Push Biden to Divert Federal Aid for Infrastructure

Unexpected receipts, driven in part by taxes on high earners riding a hot stock market, have prompted Republicans to push the president to spend on infrastructure instead.

#american-rescue-plan-2021, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-budget-us, #income-tax, #states-us, #taxation, #united-states-economy

Tax Day 2021: Here’s What You Need to Know

The I.R.S. said tax filers who needed more time could have an extra month. The federal tax deadline has arrived.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #freelancing-self-employment-and-independent-contracting, #income-tax, #internal-revenue-service, #tax-preparers-and-preparation, #taxation, #unemployment-insurance