Trump and Sanders Opened Doors. Inflation Is Closing Them.

What a climate of fiscal constraint means for the populist and the socialist left.

#biden-joseph-r-jr, #budgets-and-budgeting, #democratic-party, #inflation-economics, #republican-party, #sanders-bernard, #taxation, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

It’s Not Easy Being President

But we do have a few suggestions.

#biden-joseph-r-jr, #boudin-chesa, #cheney-liz, #democratic-party, #demonstrations-protests-and-riots, #federal-budget-us, #federal-reserve-system, #gun-control, #house-select-committee-to-investigate-the-january-6th-attack, #inflation-economics, #republican-party, #supreme-court-us, #taxation, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

Thomas Piketty’s Radical Plan for a More Equal World

The economist makes his case for universal inheritance, worker ownership and ‘participatory socialism.’

#audio-neutral-informative, #corporate-taxes, #economic-conditions-and-trends, #economics-theory-and-philosophy, #income-inequality, #inflation-economics, #inheritance-and-estate-taxes, #socialism-theory-and-philosophy, #taxation, #united-states-economy, #wages-and-salaries

From Voodoo to MAGA to Buffalo

How the paranoid style took over the G.O.P.

#conservatism-us-politics, #conspiracy-theories, #economics-theory-and-philosophy, #immigration-and-emigration, #mass-shootings, #republican-party, #right-wing-extremism-and-alt-right, #taxation, #united-states-politics-and-government

Ron DeSantis Is Being Incoherent on Inflation

The Florida governor, like many other Republicans, needs to get his story straight.

#desantis-ron, #inflation-economics, #internal-sub-only-nl, #stimulus-economic, #taxation, #united-states-economy

States Turn to Tax Cuts as Inflation Stays Hot

Tax reductions and rebates that are being proposed to help people cope could have the unintended effect of pushing prices higher.

#biden-joseph-r-jr, #delaware, #desantis-ron, #elections-governors, #florida, #gasoline-tax-us, #hochul-kathleen-c, #idaho, #indiana, #inflation-economics, #iowa, #kansas, #kelly-laura-1950, #new-york-state, #norquist-grover-g, #pennsylvania, #politics-and-government, #rebates-and-refunds, #states-us, #stimulus-economic, #taxation, #united-states, #united-states-economy, #wolf-thomas-w

Intuit Will Refund $141 Million to Low-Income TurboTax Users

In a settlement, the software company admitted no wrongdoing but agreed to repay fees it had charged millions of Americans for returns that the authorities said were falsely advertised as free.

#advertising-and-marketing, #james-letitia, #new-york-state, #propublica, #software, #tax-preparers-and-preparation, #taxation, #turbotax-intuit-inc

Florida Votes to Revoke Disney’s Special Tax Status

The vote, which appears certain to be signed into law by Gov. Ron DeSantis, follows an acrimonious clash over what has been called the “Don’t Say Gay” law in the state.

#amusement-and-theme-parks, #corporate-taxes, #desantis-ron, #disney-walt-world-lake-buena-vista-fla, #florida, #homosexuality-and-bisexuality, #taxation, #walt-disney-company

Will Eric Adams Release His Taxes?

Mayor Adams initially refused to commit to releasing his tax returns, breaking with tradition and resurrecting questions over his transparency.

#adams-eric-l, #conflicts-of-interest-board-nyc, #income-tax, #mayors, #new-york-city, #taxation

Tiny Love Stories: ‘We Never Asked; He Never Explained’

Modern Love in miniature, featuring reader-submitted stories of no more than 100 words.

#dating-and-relationships, #love-emotion, #modern-love-times-column, #parenting, #passover, #shoes-and-boots, #taxation

New York Weighs a Gas Tax Holiday, a Popular ‘Bad Idea’

With deadlock on many major issues, a proposal to provide relief to motorists has picked up steam.

#gasoline-tax-us, #hochul-kathleen-c, #new-york-state, #politics-and-government, #rebates-and-refunds, #tax-credits-deductions-and-exemptions, #taxation

With Gas Prices at Record Highs, States Look at Cutting Taxes to Ease Strain

Actions by Maryland, Georgia and Connecticut could be followed by other states soon.

#american-automobile-assn, #california, #connecticut, #gasoline-tax-us, #georgia, #hogan-lawrence-j, #inflation-economics, #kemp-brian-p, #lamont-ned, #maryland, #oil-petroleum-and-gasoline, #russian-invasion-of-ukraine-2022, #sales-and-excise-taxes, #tax-foundation, #taxation

How to Fight Inflation With Lessons From History

Going back — way back — in American history for ideas about what to do about rising prices.

#civil-war-us-1861-65, #federal-reserve-system, #inflation-economics, #saturdaynewsletter, #taxation, #united-states-economy

Cut the Gas Tax? No, No, No.

There are better ways to help people squeezed by inflation.

#gasoline-tax-us, #inflation-economics, #internal-sub-only-nl, #sales-and-excise-taxes, #taxation

As Biden Pivots, Democrats Seek to Salvage His Domestic Agenda

The president repackaged his sweeping domestic policy plan with more centrist language, but it remained unclear whether Congress would resurrect key elements of his agenda.

#american-families-plan-2021, #american-jobs-plan-2021, #biden-joseph-r-jr, #crime-and-criminals, #house-of-representatives, #inflation-economics, #infrastructure-investment-and-jobs-act-2021, #manchin-joe-iii, #senate, #state-of-the-union-message-us, #supply-chain, #taxation, #united-states-economy, #united-states-politics-and-government

Democratic Economists Should Evaluate Ideas on Their Merits

When your experts instinctively dismiss popular arguments.

#democratic-party, #economics-theory-and-philosophy, #inflation-economics, #interest-rates, #internal-sub-only-nl, #international-trade-and-world-market, #prices-fares-fees-and-rates, #taxation, #united-states-economy, #united-states-politics-and-government

These Tax Laws ‘Make Scofflaws of Us All’

Twenty-four states require you to file a return even if you sent just a single work email while there.

#income-tax, #internal-sub-only-nl, #law-and-legislation, #taxation

Using Tech to Optimize Your Social Security Benefits

A variety of online tools can guide retirees looking to make the most of this benefit — which many older Americans depend on.

#age-chronological, #computers-and-the-internet, #content-type-service, #financial-planners, #longevity, #personal-finances, #retirement, #social-security-us, #taxation

Kathy Hochul Unveils Record $216 Billion Budget Plan for NY

Gov. Kathy Hochul unveiled a record-setting new budget plan, as state officials project balanced budgets through 2027, with none of the typical warnings of billion-dollar shortfalls.

#budgets-and-budgeting, #finances, #hochul-kathleen-c, #new-york-state, #politics-and-government, #taxation

Watch Kathy Hochul Give Her First State of the State Speech

Gov. Kathy Hochul was set to pledge $10 billion to boost the state’s decimated health care work force, and to direct funds to further combat gun violence.

#budgets-and-budgeting, #coronavirus-2019-ncov, #criminal-justice, #elections-governors, #ethics-and-official-misconduct, #hochul-kathleen-c, #labor-and-jobs, #law-and-legislation, #new-york-state, #politics-and-government, #state-of-the-state-message-nys, #taxation, #term-limits-political-office

Has Manchin Doomed the Build Back Better Plan?

The senator from West Virginia has said he cannot vote for the president’s signature policy. Why not? And where does this leave President Biden?

#audio-neutral-informative, #biden-joseph-r-jr, #democratic-party, #law-and-legislation, #manchin-joe-iii, #senate, #taxation, #united-states-politics-and-government, #west-virginia

SALT Deduction That Benefits the Rich Divides Democrats

House Democrats are poised to lift a cap on the state and local tax deduction, a gift to wealthy homeowners in some blue states.

#california, #democratic-party, #elections-house-of-representatives, #federal-budget-us, #high-net-worth-individuals, #house-of-representatives, #new-jersey, #new-york-state, #republican-party, #senate, #states-us, #tax-credits-deductions-and-exemptions, #taxation, #united-states-politics-and-government

How Revenue for Biden’s Social Policy Bill Depends on the I.R.S.

The head of the Congressional Budget Office said on Monday that beefed-up tax enforcement would raise far less money than the White House projected.

#biden-joseph-r-jr, #congressional-budget-office, #debt-collection, #federal-budget-us, #federal-taxes-us, #internal-revenue-service, #rettig-charles-p, #tax-evasion, #taxation, #treasury-department, #united-states-politics-and-government

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

Facing Moderate Revolt, Democrats Put Social Policy Bill on Hold

Leaders pressed for a vote on a separate infrastructure bill, but the fate of both measures was in doubt amid party divisions, despite pleas from President Biden.

#american-jobs-plan-2021, #biden-joseph-r-jr, #child-care, #congressional-budget-office, #democratic-party, #drugs-pharmaceuticals, #education-pre-school, #global-warming, #health-insurance-and-managed-care, #house-of-representatives, #infrastructure-public-works, #jayapal-pramila, #law-and-legislation, #paid-time-off, #pelosi-nancy, #taxation, #united-states-politics-and-government

Will Murphy Turn to the Center After Barely Winning Re-Election in N.J.?

The Democratic governor won re-election in a surprisingly close race that has raised questions about his ability to enact liberal measures on gun control and abortion.

#ciattarelli-jack-m, #elections-governors, #gun-control, #murphy-philip-d-1957, #new-jersey, #politics-and-government, #state-legislatures, #taxation

House Democrats Hunt for Votes to Pass Biden’s Domestic Agenda

Speaker Nancy Pelosi wants a vote as soon as Thursday night on a $1.85 trillion social policy and climate bill, but moderates are pushing back.

#american-families-plan-2021, #american-jobs-plan-2021, #democratic-party, #federal-budget-us, #house-of-representatives, #infrastructure-public-works, #law-and-legislation, #manchin-joe-iii, #pelosi-nancy, #senate, #taxation, #united-states-politics-and-government

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

European Steel Plan Shows Biden’s Bid to Merge Climate and Trade Policy

A potential agreement on steel trade provides the clearest look yet at how the Biden administration plans to implement a trade policy that is both protectionist and progressive

#aluminum, #american-iron-and-steel-institute, #biden-joseph-r-jr, #carbon-dioxide, #china, #commerce-department, #customs-tariff, #europe, #european-union, #greenhouse-gas-emissions, #international-relations, #international-trade-and-world-market, #steel-and-iron, #tai-katherine-1974, #taxation, #united-states, #united-states-politics-and-government, #world-trade-organization

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

Elon Musk and the Dangerous Power of Billionaires

Somehow, wealth beyond imagining isn’t enough.

#economics-theory-and-philosophy, #high-net-worth-individuals, #internal-sub-only-nl, #musk-elon, #taxation

A Global Tax Deal Is at Hand. Here’s How It Would Work.

President Biden will sign on to an international pact aimed at ending profit-shifting by large companies. Here’s a look at what it means.

#corporate-taxes, #international-trade-and-world-market, #tax-shelters, #taxation, #united-states-international-relations, #united-states-politics-and-government

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

Who Are America’s Billionaires, Anyway?

They are tech titans, entertainment moguls and heirs to great fortunes. Their ranks grew during the pandemic, changing the political conversation around taxing the wealthy.

#american-jobs-plan-2021, #bankman-fried-sam, #bezos-jeffrey-p, #high-net-worth-individuals, #income-inequality, #manchin-joe-iii, #musk-elon, #occupy-wall-street, #taxation, #united-states-politics-and-government, #wyden-ron

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

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

Attitudes Toward Masks Around the World

Readers compare how Germany, Australia, France and the United States have been dealing with Covid. Also: Means-testing for social programs; getting even with robocallers.

#australia, #coronavirus-2019-ncov, #france, #germany, #masks, #taxation, #telemarketing, #united-states-politics-and-government, #vaccination-and-immunization, #welfare-us

Is Child Care a Public Responsibility?

Democrats believe the system is broken — and they have a proposal for fixing it.

#child-care, #children-and-childhood, #democratic-party, #federal-aid-us, #greensboro-nc, #north-carolina, #taxation, #wages-and-salaries

As Democrats Trim Spending Bill, Some Americans Fear Being Left Behind

President Biden had an ambitious agenda to remake the economy. But under the duress of negotiations and Senate rules, he has shelved a series of proposals, some of them indefinitely.

#american-families-plan-2021, #american-jobs-plan-2021, #biden-joseph-r-jr, #democratic-party, #global-warming, #house-of-representatives, #immigration-and-emigration, #infrastructure-public-works, #labor-and-jobs, #law-and-legislation, #minimum-wage, #real-estate-and-housing-residential, #senate, #stimulus-economic, #taxation, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries

What’s Changed in 13 Years of Writing About the Wealthy

For one thing, they’ve gotten wealthier. But there are still things the wealthy do that other investors can do, too.

#content-type-service, #high-net-worth-individuals, #income-inequality, #internal-revenue-service, #personal-finances, #taxation

A Global Deal Aimed at Ending Tax Havens Gains Momentum

Negotiators are coalescing around a 15 percent minimum tax rate, which could be announced at a Friday meeting.

#corporate-taxes, #economic-conditions-and-trends, #ireland, #organization-for-economic-cooperation-and-development, #politics-and-government, #tax-shelters, #taxation

Biden Presses Democrats to Embrace His Economic Agenda

The president canceled a trip to Chicago in an attempt to salvage a pair of bills containing trillions of dollars in spending on infrastructure, education, climate change and more.

#biden-joseph-r-jr, #democratic-party, #federal-taxes-us, #house-of-representatives, #infrastructure-public-works, #manchin-joe-iii, #senate, #sinema-kyrsten, #taxation, #united-states-politics-and-government

Republicans Are Playing a Dangerous Game With Debt

They know the borrowing limit must be raised, one way or another.

#democratic-party, #federal-budget-us, #law-and-legislation, #mcconnell-mitch, #national-debt-us, #republican-party, #senate, #taxation, #united-states-economy, #united-states-politics-and-government

Labour’s Leader Struggles to Emerge From Boris Johnson’s Shadow

Competent but low on charisma, Keir Starmer has yet to give British voters a clear reason to support the main opposition party, critics say.

#conservative-party-great-britain, #corbyn-jeremy-1949, #coronavirus-2019-ncov, #great-britain, #johnson-boris, #labour-party-great-britain, #starmer-keir, #taxation, #voting-and-voters

Labour Leader, Keir Starmer, Struggles to Emerge From Boris Johnson’s Shadow

Competent but low on charisma, Keir Starmer has yet to give British voters a clear reason to support the main opposition party, critics say.

#conservative-party-great-britain, #corbyn-jeremy-1949, #coronavirus-2019-ncov, #great-britain, #johnson-boris, #labour-party-great-britain, #starmer-keir, #taxation, #voting-and-voters

In Britain, Rising Prices and Shortages Evoke 1970s-Style Jitters

The nation’s economy is very different from the bleak days of the 70s, but certain parallels are unnerving Britons and loom as a potential headache for Prime Minister Boris Johnson.

#conservative-party-great-britain, #economic-conditions-and-trends, #great-britain, #johnson-boris, #politics-and-government, #pret-a-manger, #shortages, #taxation, #tesco-corp, #wages-and-salaries

No, California Isn’t Doomed

With a budget surplus and plans for fixing its biggest problems, the Golden State is looking a bit more golden.

#affordable-housing, #budgets-and-budgeting, #california, #elections-california-gubernatorial-recall-2021, #homeless-persons, #internal-sub-only, #newsom-gavin, #real-estate-and-housing-residential, #taxation

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

It’s Not Really a ‘$3.5 Trillion’ Bill

The fiscal impact of the Biden spending plan would be smaller than that figure suggests.

#budgets-and-budgeting, #center-on-budget-and-policy-priorities, #congressional-budget-office, #federal-budget-us, #federal-taxes-us, #internal-sub-only, #taxation