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Yes, you can claim a missed stimulus check, but you have to file a 2020 or 2021 tax return
It’s officially tax filing season in the United States. That means many people are looking for answers to all of their filing questions.
America's richest 400 families pay a lower tax rate than 'average' taxpayer
The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a White House analysis published Thursday. Those richest 400 families represent the top 0.0002% of all taxpayers, according to the White House report.
US Workers Are Paying High Taxes. But Without Any of the Benefits.
The United States is commonly thought of as a low-tax country. But workers effectively pay some of the highest taxes in the developed world — without getting a decent welfare state in return. Comparing labor tax rates across countries is a tricky endeavor.
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You Cannot Be Too Cynical About the Republican Tax Bill
The rush to enact the tax bill was designed to mask — as a break for the middle class — what is in fact a $1.4 trillion package of benefits for key donors and lobbyists, the richest members of Congress, President Trump, his family and other families like his.
Why GOP tax plan could mean cuts in state and local services
It's a tax provision that could prove costly for schools, police forces, drug treatment centers and other state and local public services.
House Gives Final Approval to Sweeping Tax Overhaul
WASHINGTON — The House, forced to vote a second time on the $1.5 trillion tax bill, moved swiftly to pass the final version on Wednesday, clearing the way for President Trump to sign into law the most sweeping tax overhaul in decades.
Only 24 percent of Americans think the GOP tax plan is a good idea, NBC/WSJ poll says
Congressional Republicans are fulfilling President Donald Trump's wish for a pre-Christmas tax-cut in the face of strong public resistance, a new NBC News/Wall Street Journal poll has found.
The Republican tax bill is a disaster for income inequality
The tax plan was already unequal. The version Trump will sign into law is even more so. Republicans have managed to take a tax plan that was already tilted heavily toward corporations and the wealthiest Americans and shift the balance even further in favor of the rich.
The Tax Bill; Making America More Unequal Than Ever
“While most other nations, and all of the major international institutions…have acknowledged that extreme inequalities in wealth and income are economically inefficient and socially damaging, the tax reform package is essentially a bid to make the U.S.
'Government for Sale': In Dead of Night, Senate GOP Passes Tax Bill Only Their Donors Can Love
Following months of relentless lobbying, backroom scheming, self-dealing, and brazen lying, Senate Republicans finally rammed through their $1.5 trillion tax bill by a party-line vote of 51-48 in the dead of night Wednesday, all but clearing the legislation's path to President Donald Trump's desk.
Republican Tax Bill Passes Senate in 51-48 Vote
WASHINGTON — Republicans took a critical step toward notching their first significant legislative victory since assuming full political control, as the House and Senate voted along party lines on Tuesday and into early Wednesday to pass the most sweeping rewrite of the tax code in decades.
Yes, America, There is a Class War, and You Just Lost It
The Republican Party did not just overhaul the tax code and they did not cut “your” taxes. They engineered a coup against the middle and working classes and they threw enormous amounts of public money to private billionaires and multi-millionaires.
The GOP Tax Bill and the Crisis of American Democracy
It just so happened that during the week that Republicans rammed a $1.5 trillion tax bill through Congress without a single Democratic vote, Philip Alston, the UN special rapporteur on extreme poverty and human rights, was finishing up a fact-finding mission to the United States.
Home Depot just showed who will gain the most from corporate tax cuts
This week, Home Depot announced that it is using $15 billion to buy back shares of its own stock, a move that will reward shareholders including chief executive Craig Menear.
Donald Trump’s Holiday Gift to America: A Fundamental Crisis
In a commencement speech years ago, author David Foster Wallace told this story: Two young fish are swimming along, and they pass an older fish swimming the other way. The older fish says, “Morning, boys, how’s the water?” The two young fish swim on for a while.
The Tax Bill Shows the G.O.P.’s Contempt for Democracy
The Republican Tax Cuts and Jobs Act is notably generous to corporations, high earners, inheritors of large estates and the owners of private jets. Taken as a whole, the bill will add about $1.
The 10 Step Scheme for One-Sided Class War
1. Scream about the debt and deficit. 2. Shrink revenue by slashing taxes for the already palatial elite. Summarily dismiss all concerns about the debt and deficit, because, well, the debt and deficit don't really matter. Plus, tax cuts for the rich grow the economy anyway. Or maybe not.
Merry Christmas, Vladimir — Your Friend, Donald
At the end of this banner stock market year, you can bet that major business publications will be naming their investor of the year. You can stop now. I have the winner, and nobody is even close when it comes to his total return on investment: Vladimir Putin, the Russian president.
The United States Is Now as Unequal as Russia. And That’s Before the Tax Bill.
When it comes to income equality, Vladimir Putin’s Russia is probably not the company most Americans hope to keep. Nevertheless, both countries’ elites now capture roughly the same share of national wealth.
Paul Ryan yelled in delight and triumphantly slammed his gavel as he announced the GOP tax bill's passage
House Speaker Paul Ryan is really pumped about the GOP tax bill passing the House.
The Tax Bill Is the Grinchiest Christmas Gift Yet
At year's end, Donald Trump and Congress are putting a lump of "clean, beautiful coal" in our stockings. Sen. Bob Corker (R-TN) speaks to members of the media at the Capitol in Washington, DC on Dec. 1, 2017.
Corporations Say Publicly They’ll Pocket the Tax Cut, But Republicans Aren’t Listening
Weeks before the Republican-led Congress moved toward final passage of its corporate tax cut bill, major companies had already begun a surge of stock buybacks — confirming critics’ fears that the windfall of lower rates will be used for self-enrichment rather than job growth.
Wells Fargo cheated millions of customers. The Republican tax bill is about to hand it a big win.
In 2018, Wells Fargo could get the best tax deal of all the big banks. Wells Fargo in 2016 was fined $185 million for issuing millions of fake credit card accounts. In 2017, it was caught overcharging clients on currency trades and improperly charging homebuyers to lock into low mortgage rates.
Without Remorse, House GOP Passes 'Morally Corrupt, Cruel, and Barbaric' Tax Bill
In a move that puts congressional Republicans one step closer to making their long-standing dream of delivering massive tax cuts to the ultra-rich a reality, the House on Tuesday voted by a margin of 227-203 to approve a GOP-crafted tax bill that one advocacy group could only describe as "morally
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How Republicans misled the American public on their tax bill
From misleading statements to downright lies: three ways Republicans broke commitments on their tax bill. Republicans have made a lot of promises on their tax bill.
Tax Bill: A Nightmare Before Christmas?
The GOP tax bill sailed through the House today with 227 members of Congress voting yes and 203 voting against the bill. Every single Democrat voted no and 12 Republicans crossed the aisle to join them. The Senate is expected to vote on the bill later today, where it’s expected to pass as well.
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Scarborough: The GOP tax plan 'steals' $1.5 trillion from millennials
Joe Scarborough slammed the GOP tax plan on Monday, saying that by increasing the deficit over the next decade it would “steal” trillions of dollars from young voters.
Before House and Senate Vote, Here's 13 Worst Things in Trump-GOP Tax Scam
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform.
The latest Trump propaganda segments running on local news, courtesy of Sinclair Broadcast Group
As it closes in on a significant expansion into major cities and battleground states across the country, conservative local news behemoth Sinclair Broadcast Group has gone into overdrive with its pro-Trump and anti-media propaganda.
Republicans finally offered an explanation for the ‘Corker Kickback’ — it just doesn’t make sense
Why was a provision quietly added to Congress’ final tax bill specifically to benefit the owners of real estate “pass-through” corporations, a group that includes President Donald Trump and Sen. Bob Corker (R-TN)?
Tax Bill’s Cost Could Hit $2.2 Trillion Over Next Decade
The Republican tax bill is loaded with expiring provisions and delayed tax increases that help it comply with budget rules but hide its likely real cost; if policymakers down the road don’t let these provisions take effect, as leading Republicans say they prefer, the bill’s cost would be about
Daily Reads: This Year in Backlash Politics; How The Tax Bill Got Worse
Editor’s Note: Today will be the last day for our Daily Reads post and newsletter. BillMoyers.com will be going into archive mode due to Bill’s retirement. Read more about that here. Thanks for reading!
Will Passing The Tax Bill Help The GOP In 2018? Probably Not.
President Trump’s first year has been marked by an almost complete lack of major policy wins.1 But that could come to an end this week. Congress is on the verge of passing a massive tax bill into law. It would be the first major legislative victory for Trump and the Republicans.
It's Not Just Corker: 14 GOP Senators Stand to Reap Millions From #CorkerKickback
The GOP tax bill expected to hit the floor of Congress for a vote Tuesday afternoon has been characterized as legislation "written for Republicans' wealthy campaign contributors," but a report published Monday made clear that Republicans are not just attempting to fatten the already-overflowing poc
Tax Lawyers Are Getting Ready to Exploit All the Mistakes in the GOP Tax Bill
With Republicans in Congress on the verge of a vote on the biggest tax overhaul in decades, tax scholars are concerned that parts of the hastily-crafted bill could create opportunities for wealthy taxpayers to exploit loopholes and game the US tax system—and add on to the growing deficit.
GOP Tax Bill Could Turn America Into World’s Most Unequal Society, UN Expert Warns
A United Nations expert on poverty delivered a scathing report about America’s high levels of inequality and the dire state of its social safety net on Friday.
Trump Asks ‘How’s Your 401(k)?’ But Most Voters Don’t Have One
President Donald Trump is trying out a new campaign slogan: “How’s your 401(k) doing?” The answer for more than half of Americans is that they don’t have one.
Robert Reich: Trump Tax Plan is Payback For Billionaire Donors
This article first appeared on RobertReich.org. The Republican tax plan to be voted on this week is likely to pass.
The GOP Tax Plan Will Complete the Destruction of America’s Middle Class Wealth
The wealth of America’s middle class, under siege for four decades, is now hanging on life support. That life will end if the basic Republican tax plan, as now envisioned by House and Senate majorities, ever becomes law.
Ripping GOP for Serving Donors, Sanders and Warren Lay Out Budget Plan That Works for All
That is the question posed, and answered, by Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) in a op-ed for the New York Times published Sunday night.
‘Corker Kickback’ sends Republicans scrambling in advance of tax vote
Bob Corker, a Republican Senator from Tennessee, is retiring. He has made a show of criticizing Trump’s agenda, and he was the only Republican to vote against the Senate version of the tax bill, citing deficit concerns. Independent analysis shows the bill would increase the deficit by about $1.
CEOs Aren’t Waiting for the Tax Bill to Pass — They’ve Already Started Pocketing the Windfall
U.S. corporations are already beginning the process of pocketing the winnings from the tax bill jackpot they expect to hit any day now, undercutting, in a remarkably public fashion, the pretense that the corporate tax cut will lead to greater investment in job creation.
Late Add To Tax Bill Benefits Real Estate Investors
Back in September, Donald Trump asked Americans to “believe me” when he said he wouldn’t benefit from the tax bill. You didn’t believe him, did you? Hope not because Donald Trump is about to make out like a bandit. Why? For one, a tax deduction was preserved for owners of golf courses.
Warren and Sanders: Who Is Congress Really Serving?
WASHINGTON — Over the past year, Republicans have made their priorities clear. Their effort to repeal Obamacare would have left tens of millions of people without health insurance.
Why Republicans are ignoring public attitudes on the tax plan
At this point, the debate over whether the American mainstream supports the Republicans’ regressive tax plan is over. Surveys have been consistent for months: the public just isn’t buying what the GOP is selling.
Trump budget slashes federal aid for rail, long-distance Amtrak routes
The $16.2 billion budget represents a 13 percent reduction over fiscal year 2017.
Populist Plutocracy and the Future of America
Trump has consistently sold out the blue-collar, socially conservative whites who brought him to power, while pursuing policies to enrich his fellow plutocrats. What might he do to keep the "base" on his side? President Donald Trump speaks during a rally at the Pensacola Bay Center on Dec.
Top Republicans are already talking about cutting Medicare and Social Security next
The idea of cutting popular programs in an election year has vulnerable Republicans asking, why not infrastructure?
The Republican tax bill got worse: now the top 1% gets 83% of the gains
In its last year, the bill raises taxes on more than 53 percent of Americans. By 2027, more than half of all Americans — 53 percent — would pay more in taxes under the tax bill agreed to by House and Senate Republicans, a new analysis by the Tax Policy Center finds. That year, 82.
The GOP tax bill: A look at the winners and losers
Republicans are expected to push through their $1.5 trillion tax package, delivering it to President Donald Trump before Christmas Day. The major tax reform will touch almost every American, changing their tax brackets and, in some cases, limiting or changing popular deductions.
The Republican Tax Bill Codifies a New Gilded Age
The Republican tax bill is a throwback to the Gilded Age. Since the Reagan administration, economic policy in the United States has been gradually regressing to the age of robber barons.
The Triumph of the Oligarchs
The Republican tax plan to be voted on this week is likely to pass. “The American people have waited 31 long years to see our broken tax code overhauled,” the leaders of the Koch’s political network insisted in a letter to members of Congress, urging swift approval. Please.
This Tax Bill Is a Trillion-Dollar Blunder
Last month a Wall Street Journal editor asked a room full of CEOs to raise their hands if the corporate tax cut being considered in Congress would lead them to invest more. Very few hands went up. Attending was Gary Cohn, President Donald Trump's economic adviser and a friend of mine.
The Republican tax bill is an American betrayal
The American people voted for populism. They got plutocracy. According to a poll from Public Policy Polling, 57 percent of Americans now approve of the Affordable Care Act. Only 29 percent approve of the GOP’s tax cuts.
Corker’s controversial flip on tax plan raises awkward questions
Sen. Bob Corker (R-Tenn.) had been consistent throughout the debate over the Republican tax plan: if the GOP proposal added to the deficit, he couldn’t vote for it.
The Tax Bill’s Winners and Losers
President Trump has called the $1.5 trillion tax cut that Republican lawmakers are on the verge of passing a Christmas present for the entire nation.
Tax Bill: John Cornyn Says Tax Cut Potentially Benefiting Bob Corker Was Part Of Effort To Secure Votes For Passage
Sen. John Cornyn of Texas, the majority whip, on Sunday said a tax provision, which could personally enrich key Republican lawmakers, was added to the final tax bill as part of an effort to “cobble together the votes we needed to get this bill passed.
“It just seems wrong.” GOP rep admits tax scam he voted for rips off working people
There’s not much to like about the GOP tax scheme. The bill, drafted hurriedly and under the cover of darkness, is wildly unpopular among the American people and economists alike, with little to offer other than corporate giveaways and tax cuts for the rich.
GOP’s List of Economists Backing Tax Cut Includes Ghosts, Office Assistants, Ex-Felons, and a Sprinkling of Real Economists
Touting support for their tax cut legislation, House Speaker Paul Ryan, R-Wis., the Senate Finance Committee, and Sen. Rob Portman, R-Ohio, released a letter this week signed by 137 economists who say they strongly endorse the Republican legislation before Congress.
'You Better Learn Our Lesson'
The regretful Republicans of Kansas have a message for the tax-cutting Republicans of Congress: Don’t follow our lead.
CHART: How The Final Version Of The Republican Tax Bill Would Affect You
Updated on Dec. 20 at 4 p.m. ET Congressional Republicans handed their party and the president a major legislative victory when they passed their tax cut plan.
Final GOP tax bill would allow Arctic refuge drilling
A tax cut compromise reached Wednesday by GOP negotiators contains a plan to drill for oil in the Arctic National Wildlife Refuge (ANWR), Sen.
Everything you need to know about the GOP’s final tax plan in 3 charts
Rarely, maybe once or twice in most presidencies, do bills like this come along: one that could profoundly affect every American person and business for decades. On Friday evening, Republicans released what they say is the final version of their “Tax Cut and Jobs Act.
Trump's Own Treasury Admits Republican Tax Plan Won't Pay for Itself
After months of pressure from watchdog groups, the U.S. Department of the Treasury, led by Trump-appointee Steve Mnuchin, has released a one-page analysis of the Republican tax bill.
Republicans unveil final version of tax bill
Republicans late Friday afternoon unveiled the final text of their bill to rewrite the tax code, which they are racing to send to President TrumpDonald John TrumpHouse Democrat slams Donald Trump Jr.
On tax vote eve, pro-GOP group to make 1 million robocalls
A group closely aligned with House leadership is helping with the closing argument on the Republican tax bill, making 1 million robocalls to urge House Republicans to vote for the bill, McClatchy has learned.
Trump's tax plan veered from intent
WASHINGTON —The GOP tax plan on the cusp of becoming law diverges wildly from the promises President Donald Trump and top advisers said they would deliver for the middle class — an evolution that shows how traditional Republican orthodoxy swamped Trump's distinctive brand of economic populism.
How Do Politicians Get Away With Cutting Taxes for the Rich?
A substantial majority of Americans believe that rich people ought to pay more taxes. For example, consider public opinion about the “Buffett rule,” named after its most prominent backer, the billionaire investor Warren Buffett.
Scam I Am: Why Is the G.O.P. Rushing This Tax Abomination?
So, it seems that Republicans are responding to the devastating defeat in Alabama – which is part of a sustained pattern of underperformance in special elections, demonstrating that bad polls reflect reality, not bad polling, by … doubling down on a massively unpopular tax plan, whose main focus
Inequality is not inevitable – but the US 'experiment' is a recipe for divergence
Is the rise of inequality inevitable? Today’s inaugural World Inequality Report shows that income inequality has increased in nearly every country around the world since 1980 – but at very different speeds.
Why the Trump Era Won't Pass Without Serious Damage to America
Conservatism has turned itself into a civic religion and columnist Neal Gabler fears the damages wrought in the Trump era will be permanent and lasting. Sad to say, this will be my last column for billmoyers.com, where I have written for the past two years.
With Billions at Stake in Tax Debate, Lobbyists Played Hardball
WASHINGTON — As the largest tax rewrite in decades powered through Congress, lobbyists found themselves sprinting to keep up and find ways to persuade, influence or cajole the small group of lawmakers empowered to tweak language in the final version of the joint Senate and House bill.
Behind Trump’s plan to target the federal safety net
Under the banner of welfare reform, the administration is eyeing changes to health care, food stamps, housing and veterans programs.
GOP refuses to learn the lessons of Kansas’ failed tax experiment
Shortly after the 2012 elections, with Kansas Gov. Sam Brownback’s (R) radical economic experiment already underway, then-Senate Minority Leader Mitch McConnell (R-Ky.
Trump’s Treasury Dept finds itself facing a new investigation
It now appears he may have been lying, not just about the timing, but about the work itself.
Republicans are breaking four big promises in the Senate tax bill
First Read is your briefing from Meet the Press and the NBC Political Unit on the day's most important political stories and why they matter.
Ryan says Republicans to target welfare, Medicare, Medicaid spending in 2018
Ryan cited concerns over the federal deficit, which the GOP tax bill would increase by at least $1 trillion over a decade.
How the Senate tax bill affects rich and poor, in three charts
Just in time for a potential full Senate vote, we now have significantly more data about what exactly the Senate tax overhaul would do, and whom it would affect. In particular, we want to look at the latest numbers from the Congressional Budget Office.
A Republican Tax Proposal Would Make Academia Even Whiter
While a House Republican proposal to tax the tuition waivers of graduate students may not be among the highest-profile Trump-era assaults on people of color, it represents a serious threat to racial equality.
The GOP Plan Is the Biggest Tax Increase in American History, By Far
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: On net, it would reduce the amount of taxes collected by the Treasury by about $1.5 trillion over 10 years.
Senate GOP tax bill passes in major victory for Trump, Republicans
The bill greatly benefits corporate America and the wealthy while delivering mixed blessings to everybody else.
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GOP senator says tax cuts must be followed by 'structural changes to Social Security and Medicare'
Senate Republicans started the clock for a final vote on their tax plan Wednesday evening, but among the unresolved demands from GOP waverers is a provision to prevent the bill from adding up to $1.5 trillion to the federal deficit over 10 years.
Republicans’ Tax Lies Show the Rot Spreads Wide and Runs Deep
On Thursday morning, The New York Times revealed that Steven Mnuchin, the Treasury secretary, has been lying for months about Republican tax plans.
The Tax Bill’s Automatic Spending Cuts
Get the Upshot in your Inbox MARGOT SANGER-KATZA law to keep the deficit from growing larger requires cuts to federal spending if the tax bill passes and Congress takes no further action.
I’m a Depression historian. The GOP tax bill is straight out of 1929.
Republicans are again sprinting toward an economic cliff.
Sen. Rob Portman is just one of the Republican hucksters on the tax bill: Brent Larkin
Republicans who run the country now are giving them a raw deal. Roosevelt pretty much delivered.
By Reducing the Income of Poorer Americans, the Senate Tax Bill May Worsen Health Outcomes
The Senate will vote this week on a Republican proposal that reduces taxes by $1.5 trillion over the next decade, with the biggest tax cuts going to the richest Americans.
The Senate Is Rushing to Pass Its Tax Bill Because It Stinks
As more senators show signs of sacrificing their principles and embracing the Republican tax bill for minor and nebulous concessions, it bears looking more closely at the process that produced this terrible legislation and some of its lesser-known provisions.
AARP: 5.2 million seniors could see taxes increased by GOP bill
Millions of senior citizens could see tax increases under the Senate version of the GOP's tax-reform plan, according to an analysis from the AARP. In an article published Wednesday on the group's website, the AARP's vice president and policy director argue that 1 in 5 seniors, about 6.
Taxes and growth – a cautionary graph
The Trump Administration claims that the tax cut going through the House and Senate will significantly boost the overall growth rate of the U.S. economy by so much that it will pay for itself through increased revenues. Take that assertion with a grain – or perhaps a barrel – of salt.
The Biggest Tax Scam in History
Donald Trump likes to declare that every good thing that happens while he’s in office — job growth, rising stock prices, whatever — is the biggest, greatest, best ever. Then the fact-checkers weigh in and quickly determine that the claim is false.
Senate Republican tax plan hurts the poor while cutting taxes for the rich, CBO finds
The Senate Republican tax plan would harm the poor while slashing taxes for the rich, according to a report from the nonpartisan Congressional Budget Office published Sunday. The CBO found that negative impact for Americans earning less than $30,000 a year begin as soon as 2019.
Senate GOP tax bill hurts the poor more than originally thought, CBO finds
A new Congressional Budget Office study shows large, harmful impacts to families earning $30,000 or less from the Senate GOP tax bill.
Republicans Are Laser-Targeting Enemies in Their Tax Bill
The plan would impose a 1.4 percent excise tax on college endowments at private universities….double the standard individual tax deduction, meaning much weaker incentives for charitable contributions to colleges….end student loan interest rate deductions….
GOP Tax Bill Is The End Of All Economic Sanity In Washington
No doubt many of you read the above headline and immediately started to tweet that the GOP tax bill can't be the end of economic sanity in Washington because there never was any to begin with. First...please do tweet that, and link to this post when you do.
Poll: Economists Unanimous That Debt Would Balloon Under GOP Tax Plan
Republicans have been selling their tax overhaul plan as a major booster for the U.S. economy. In fact, they have argued that it would grow the economy so much that cuts would largely pay for themselves. But on both counts, top economists are doubtful.
The GOP tax plan just got another brutal review
The new analysis from the Urban Institute's and Brookings Institution's Tax Policy Center found that by 2027, 28% of Americans would see an increase in their tax burden due to the tax code overhaul proposed in the TCJA.
Why is Donald Trump launching a withering attack on nonprofits?
Not so long ago, conservative thinkers and Republican leaders were strong champions of private charity. George HW Bush talked about a “thousand points of light”, while his son created a new White House office to engage nonprofits.
Musicians, You’re About to Lose Your Tax Deductions
Musicians have been asking me if the new tax bill passed by the House yesterday will have any impact on us. Yes, the legislation, if passed in the Senate, will greatly reduce the ability of professional musicians to deduct many of the expenses we incur in our work.
Our Elites Still Don’t Get It
John Bowlby is the father of attachment theory, which explains how humans are formed by relationships early in life, and are given the tools to go out and lead their lives.
House GOP tax plan would increase taxes for graduate students by roughly 400 percent
"It would be devastating."
House Republican: my donors told me to pass the tax bill “or don’t ever call me again”
Chris Collins is saying the quiet part loud. The House Republican tax overhaul has already made a lot of enemies.
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How to Pay Taxes (NOT!) Like Donald Trump
Imagine if you, like President-elect Donald Trump, didn’t have to pay a nickel to support the government he’s now preparing to lead. Trump, who has refused (unlike every other presidential candidate in recent history) to release his tax returns, made his last known payment to the IRS in 1977.
Teachers spend nearly $500 a year on supplies. Under the GOP tax bill, they will no longer get a tax deduction.
Teachers benefit from a $250 tax deduction that would be eliminated under the tax reform bill.
Column: The GOP tax plan is filled with petty cruelties aimed at the vulnerable and the middle class. Here’s a list
House Republicans’ determination to slash tax deductions for taxpayers and homebuyers in blue states has commanded most of the public’s attention since the unveiling of the GOP’s tax bill Thursday.
Divorce penalty? Tax reform could shrink alimony for ex-spouses
Alimony payments mandated by divorce agreements could lose their beneficial tax treatment. The Tax Cuts and Jobs Act, unveiled on Thursday, includes a provision to kill the deduction that taxpayers get for making such payments to an ex-spouse.
I've spent months covering Republican tax policy. This bill is way worse than I expected.
The party had some legitimately good ideas. They’re not in this bill. I’m not the target audience for the Republican tax bill.
As Trump Proposes Tax Cuts, Kansas Deals With Aftermath Of Experiment
Kansas Gov. Sam Brownback is notorious for what is known as the Kansas experiment, a bold effort to assert the power of limited government. In 2012, the Republican governor pushed reforms through the state Legislature that dramatically cut income taxes across the board.
Republicans say they can’t figure out how to not cut taxes for the rich
It’s really not very hard. Both as a candidate for president and again as recently as mid-September, Donald Trump promised that his tax program wouldn’t help rich people “at all.” His Treasury Secretary Steve Mnuchin vowed as much in January.
Emoluments Hearing Hints At What May Be At Stake: Trump's Tax Returns
If there's one thing President Trump's critics want from him, and he refuses to give up, it's his tax returns. The returns didn't come up during Wednesday's hearing in U.S. District Court for the Southern District of New York in Manhattan.
Financial industry worried GOP tax plan will change 401(k)s
Financial industry groups and Democratic lawmakers are concerned that Republicans’ forthcoming tax-reform bill could make a big change to the taxing of retirement funds.
The G.O.P. Is No Party for Honest Men
President Trump and Mitch McConnell speaking to reporters on Monday.Credit...Tom Brenner/The New York TimesAccording to a new CBS News poll, almost 60 percent of the American public believes that the current Republican tax plan favors the wealthy.
Tax-cutting House Republicans suddenly worry about the deficit when Puerto Rico needs help
Why 69 Republicans didn’t vote for Puerto Rico aid. A full-blown humanitarian crisis is still underway in Puerto Rico after Hurricane Maria devastated the island last month. More than 80 percent of the island is still without electricity, there’s a daily shortage of 1.
Math Suggests Inequality Can Be Fixed With Wealth Redistribution, Not Tax Cuts
In the last 30 years, income inequality has grown at a rate that hasn't been seen since just prior to the Great Depression. As Occupy Wall Street sought to remind us, the top 1 percent of the US earns 40 times more than the bottom 90 percent on average.
The Koch brothers (and their friends) want President Trump’s tax cut. Very badly.
NEW YORK — The message from the billionaire-led Koch network of donors to President Trump and the Republican Congress it helped to shape couldn’t be more clear: Pass a tax overhaul, or else. As the donors mixed and mingled for a policy summit at the St.
Too poor to vote: how Alabama’s ‘new poll tax’ bars thousands of people from voting
Randi Lynn Williams assumes she will never be able to afford to vote again. The 38-year-old resident of Dothan, Alabama, lost her right to vote in 2008, when she was convicted of fraudulent use of a credit card.
Here’s Where Your Tax Dollars for ‘Defense’ Are Really Going
Here’s a question for you: How do you spell boondoggle? The answer (in case you didn’t already know): P-e-n-t-a-g-o-n.
Anti-pop-tax hired guns pay $11 an hour for workers to 'educate' Cook County voters on repeal
Nestled between a hair weave shop and Chinese fast-food joint in a South Side shopping center is a narrow storefront with a cardboard placard inside a glass door.
Millionaire Trump Adviser Says Americans Can 'Buy A New Car' With $1,000 Tax Cut
President Donald Trump’s chief economic adviser — Gary Cohn, the former Goldman Sachs president worth an estimated $266 million — appears to be completely clueless about what the average American family spends on a car, vacation or home improvement project.
Trump says tax plan to nearly double standard deduction
President Trump on Tuesday said that Republicans' forthcoming tax plan will include "nearly doubling" the standard deduction and increasing the child tax credit. "We will cut taxes tremendously for the middle class.
Republicans Outline Biggest Tax Code Overhaul In A Generation
Updated at 5:00 p.m. ET President Trump and GOP congressional leaders have outlined their plan for the most sweeping overhaul of the federal tax code in more than three decades.
Taxpayers billed $1,092 for an official’s two-night stay at Trump’s Mar-a-Lago club
An invoice from the president’s Palm Beach property surfaces, showing that the government was charged for someone to spend the weekend.
Irma Won’t “Wake Up” Climate Change-Denying Republicans. Their Whole Ideology Is on the Line.
He gathered his cabinet at Camp David and said there was no time to waste. With Hurricane Irma set to potentially devastate huge swaths of Florida, Georgia, South Carolina, and North Carolina, now was the time, he said, to rush through massive … tax cuts. Yes, that’s right.
American – $539: Detroit – Rome, Italy. Roundtrip, including all Taxes
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Republicans Will Let America Burn While Holding Out for Tax Cuts
Some prominent Republicans are getting more vocal in their criticism of Donald Trump. Yet from the other side of their mouths, they continue to push for tax "reform" amid the growing chaos.
A bold new plan promises to fix middle-class wage stagnation
In the 1940s, ’50s, and ’60s, incomes for the poor and middle class grew faster than those of the rich. Then, in the 1970s and 1980s, something changed. In recent decades, the typical American has seen their income grow by 1 percent per year, often less, barely keeping up with inflation.
Donald Trump Knows Nothing About Health Care, Taxes, or Trade
Politico has gotten hold of a transcript of Donald Trump’s interview with the Wall Street Journal a few days ago. It started out with a question about the Republican health care bill: MR. BAKER: What have you been doing, Mr. President, sort of behind the scenes?
The 2 most popular critiques of basic income are both wrong
At first blush, basic income — a proposal where every American gets a regular stipend from the government, just for being alive — sounds like a radical, even absurd, idea.
Column: How much do the poor actually pay in taxes? Probably more than you think.
Editor’s Note: Makers versus takers. It’s the cliche dividing line between those of us who contribute to the economy and those who supposedly leach off it. The assumption is simple and stark. The former pay taxes; the latter don’t, and live off those who do.
It Could Be 10 Times Cheaper To Take Electric Robo-Taxis Than To Own A Car By 2030
A new report predicts that we’re on the edge of an incredibly rapid transition to an entirely new transportation system–where it will be so much cheaper and easier to not own a car, you’ll get rid of it as soon as you can.
This small business owner says he can’t survive a Republican plan to tax imports
Tee Miller’s clothing shop in Georgetown, South Carolina, survived the city’s worst fire since 1841, a massive blaze that received national media attention and nearly leveled an entire city block on the historic waterfront.
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What Congress can learn from Kansas’s failed tax experiment
If President Trump and his supporters want to know how his proposed tax cuts will play out, they should look at what’s happened in Kansas since 2012. That year, Gov. Sam Brownback pushed through aggressive tax cuts very similar to what Trump wants Congress to do.
37 top economists all say Trump's tax plan won't pay for itself
More than 35 American economists surveyed last week disagree with a basic element of President Trump’s proposed tax plan: whether it will pay for itself.
House GOP Health Plan Eliminates Two Medicare Taxes, Giving Very Large Tax Cuts to the Wealthy
The House GOP health plan would repeal, starting in 2018, two Medicare taxes in the Affordable Care Act (ACA) that fall only on high-income filers: the additional Hospital Insurance (HI) payroll tax on high earners and the Medicare tax on unearned income.
Child poverty in the US is a disgrace. Experts are embracing this simple plan to cut it.
Most rich countries besides the US have hit on a surprisingly simple approach to reducing child poverty: just giving parents money. This idea, known as a child benefit or child allowance, exists in almost every EU country as well as in Canada and Australia.
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Bill would block porn on new phones, computers unless consumers pay a tax
Lawmakers in about a dozen states are considering a bill that would block pornography from all new phones and computers unless consumers pay up. Backers of the porn tax plan to introduce it on the federal level this month.
Likeliest Outcome of Tax Reform is a Deficit-Financed Tax Cut for the Rich That Will Expire in a Decade
Undeterred by their failure to repeal the Affordable Care Act (ACA), Republicans look set to move on to the next item in Paul Ryan’s “Better Way” agenda—tax reform.
Tom Cotton gets BOOED for defending Trumps tax returns
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I’m an American living in Sweden. Here’s why I came to embrace the higher taxes.
I’m an American living in Sweden. Here’s why I came to embrace the higher taxes. I was visiting the Apostle Islands National Lakeshore, a 23-island archipelago in Lake Superior, when suddenly I found myself pining for Stockholm.
New poll shows what Americans really think about taxes: the rich should pay more
Democrats are unified, the GOP divided on the issue. Americans’ top concern about the tax code is that they want corporations and wealthy individuals to pay more taxes. Even among rank-and-file Republicans, soaking the rich is at least moderately popular.
These 5 hilariously ridiculous rules are why our tax system favors the rich.
But, oh boy, does it ever not work that way. Examples of stupendously wealthy people paying hilariously low percentages of their income in taxes aren't hard to track down.
What does the federal government spend your tax dollars on? Social insurance programs, mostly
It’s springtime, which means the start of the budgeting process for Congress and a mad dash for many Americans to file their income taxes. That makes it a good time to look at the federal government’s spending habits in a broader context than just this year’s battles.
Osborne’s huge tax giveaway starts for rich – as the poor are hit
The richest will reap 80% of the rewards from the tax and benefit changes that start to come into effect this week, while the poorest will become worse off, according to detailed analysis by the Resolution Foundation.
$2,183,552: Donald Trump’s Annual Tax Cut from ACA Repeal
The House of Representatives is preparing to vote on a health care bill that would take away insurance from 24 million Americans in 2025—the same year that it would give a tax cut of $57,570 to the average household making more than $1 million per year.
New Evidence that Poor Americans Pay the Highest Taxes and Get Little of the Safety Net
Before taxes on the rich are cut and social programs decimated, uninformed conservatives should consider who really benefits from U.S. tax laws and assistance programs. When ALL forms of taxes and income are considered, poor Americans pay higher tax rates than the richest 1%.
Trump’s 2005 Tax Bill Doesn’t Mean the Tax System Is Working
On January 17, 1969, Treasury Secretary Joseph W. Barr presented Congress’s Joint Economic Committee with a project years in the making: the first list ever compiled of all the tax code’s loopholes and exemptions.
Republicans Keep Repeating the Same Tax Mistake
Your browser is no longer supported. You can still use the site, but some features may not work as expected. Please consider upgrading to one of the following browsers. Chrome, Firefox, Safari, Opera or Edge / Internet Explorer. Following in Reagan's misstep.
The Republican health care bill’s uninsured penalty punishes the poor way more than the rich
The bill also gives less generous tax credits to low-income Americans than Obamacare did. One group that will really lose out with the Republican health care bill to repeal and replace Obamacare: the poor.
Donald Trump's sons' secret service protection on business trips could cost millions for US taxpayers
Protecting Donald Trump’s immediate family is costing American taxpayers millions and his sons' business travels are quickly racking up the bill.
Caterpillar Is Accused in Report to Federal Investigators of Tax Fraud
For years, federal investigators have been scrutinizing Caterpillar’s overseas tax affairs with no resolution to the examinations of the complex maneuvers involving billions of dollars and one of the company’s Swiss subsidiaries.
The GOP’s Obamacare Replacement Is Just a Gigantic Tax on Women
After seven years of grandstanding and hand-wringing, this is the best Republicans could come up with? The GOP answer to the Affordable Care Act was unveiled only yesterday, and it’s already about as big a hit as New Coke.
The GOP health bill is a $600 billion tax cut — almost entirely for the wealthy
Most analysis of the American Health Care Act, the new House Republican plan for repealing and replacing Obamacare, has focused on the fact that it will take away health insurance from millions of Americans, including, eventually, millions of poor, elderly, and disabled Americans currently on Medica
GOP Plan Targets Poor, Sick, Elderly While Providing Tax Cuts for Wealthy
The Affordable Healthcare Act (AHCA), unveiled by House Republicans Monday night, dismantles (pdf) major provisions of the ACA, or Obamacare, and puts in place a system of age-based tax credits for individuals to buy insurance. It would "end Medicaid as we know it," as per Sen. Ron Wyden (D-Ore.
The Republican health plan fixes a problem Paul Ryan feels passionately about
It cuts marginal tax rates for low-income families — by giving them less health care. One feature of the American Health Care Act — Paul Ryan’s proposed alternative to the Affordable Care Act — is that, relative to Obamacare, it helps the poor less and the middle class more.
Is Donald Trump Really Worth Some Tax Cuts?
Our story so far: President Trump got good reviews for his speech to Congress on Tuesday, and that made him happy. Then it all blew up thanks to revelations the next day that Attorney General Jeff Sessions had met twice with the Russian ambassador during the campaign.
Secret GOP Obamacare Replacement Throws Millions Off Of Health Care And Raises Taxes
We now know the reason why Republicans tried to keep their Obamacare replacement bill a secret. The leaked bill would take away health care for millions of Americans and taxes health insurance. Politico reported on the secret House Republican plan: The latest draft, dated Feb.
The Next Step in the Trump-DeVos Plan to Send Taxpayer Money to Religious Schools
During his address before a joint session of Congress earlier this week, President Donald Trump paused to introduce Denisha Merriweather, a graduate student from Florida sitting with first lady Melania Trump. Merriweather “failed third grade twice” in Florida’s public schools, Trump said.
Democrats now describe Trump’s unshared tax returns as a matter of national security
Congressional Democrats are hoping that growing concerns about Russian interference in American politics might get them a peek at President Donald Trump’s tax returns. Trump refused to release his tax returns during the campaign because, he said, he was undergoing an audit.
Taxpayers fund a first-class congressional foreign travel boom
Most taxpayers will never pay $10,000 in flights for an overseas trip, but in the year prior to the 2016 election, taxpayers paid for 557 such trips that each cost more than $10,000 for a member of Congress or a staffer.
Standing Rock deployments cost Wisconsin taxpayers over $90 thousand a day
It turns out that EMAC deployments are not only opportunities for law enforcement to study up on counter-demonstration tactics, but are also pretty expensive.
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Trump Waste Of Taxpayer Money Sets A New Record With 4th Weekend Trip To Florida
President Trump will once again spend the weekend at his Florida private club, as his 4th straight taxpayer funded trip will set a record by spending more money on travel in a month than former President Obama spent in a year.
Hero tuba player trolls entire KKK march with doofy music
Despite the fact that it’s 2015, over the weekend the KKK marched down the streets of South Carolina, towards its statehouse, to show support for the confederate flag, a supposed symbol for the backwards heritage of idiot cowards nationwide.
Trump's Family Trips Cost Taxpayers Nearly As Much In A Month As Obama's Cost In A Whole Year
Donald Trump's regular jaunts to his Mar-a-Lago club in Florida appear to be costing taxpayers a small fortune.
Why Kansas’ Fiscal Implosion Is Bad News for Trump
An ambitious effort by a Republican governor to drastically cut his state’s taxes is crumbling—and that’s a bad omen for Donald Trump and Republicans in Congress who are hoping to slash tax rates at the national level.
Taxpayer-Funded Horror at Standing Rock
UPDATE: Ten people were arrested, and one protester was injured during confrontation with North Dakota police during evictions Wednesday. Forty-six more were arrested Thursday in a police sweep of the main protest camp.
Trump To Cut Funding For PBS While His Family’s Lavish Lifestyle Costs Taxpayers $300m Per Year
The widely-popular Federal programs account for less than 0.0625% of the total budget. Security for the Trumps in the White House, Trump Tower, and Mar-a-Lago is estimated to cost more than the entire proposed budget for the NEA in 2017.
Bill Gates Says Job Stealing Robots Need to Pay Taxes
It’s possible that robots will take over some human jobs. In fact, it seems like it could be only a matter of time before they do. Increasing automation will lead to massive job displacement, and less people working means less employed citizens paying taxes.
These Tax Loopholes Probably Aren't Helping You Much
The 2016 presidential election featured a lot of talk about our tax system—and especially about making the rich pay their fair share.
Trump, Cabinet could avoid millions in taxes thanks to this little-known law
Federal ethics laws would allow top officials to not pay taxes on investment profits.
Trump family trips cost taxpayers $11.3m in one month – almost as much as Obama’s cost in a year
Donald Trump’s family’s trips have cost taxpayers nearly as much in a month as Barack Obama’s cost in an entire year. The US President’s three visits to his Mar-a-Lago club in Florida since his presidential inauguration, combined with his sons’ business trips, reportedly cost $11.3m (£9.
Trump’s Lavish Lifestyle Is a Drain on Taxpayers — and a Gift to Democrats
Americans voted for Donald Trump for a wide variety of terrible reasons. Some thought that the government should be run like a business.
Trump family’s elaborate lifestyle is a ‘logistical nightmare’ — at taxpayer expense
From the White House to Trump Tower, Mar-a-Lago and beyond, local and federal governments stretch to meet the demands.
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Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study
This article is more than 8 years old.
American Tax Dollars Are Already Helping Trump Make Money
Early last month, two weeks before he’d watch his father be sworn in as president, Eric Trump travelled to a seaside town in Uruguay to help sell condos that bear his family’s name.
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Study: Obamacare repeal means a $197,000 tax cut for the 0.1 percent
Repealing Obamacare wouldn’t just end health coverage for 20 million people. It would also mean a significant tax cut for the wealthiest Americans. These tax figures are important for understanding why Republicans are so committed to Obamacare repeal.
Killing the estate tax would put billions in the pockets of Trump and his administration
President-elect Donald Trump campaigned hard on the ways in which he was going to help the middle class. But it’s the 0.2 percent of the country that pay the estate tax who are counting on him to get done what others could not: kill the “death tax.”
High-income Americans pay most income taxes, but enough to be ‘fair’?
Tax-deadline season isn’t many people’s favorite time of the year, but most Americans are OK with the amount of tax they pay. It’s what other people pay, or don’t pay, that bothers them.
Basic income: the world’s simplest plan to end poverty, explained
Basic income is having a moment. The governments of Finland, Ontario, and Utrecht are all launching tests of the policy proposal, under which everyone in a given country would get a set amount of money every year, no strings attached.
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Elon Musk : Only a Carbon Tax Will Accelerate the World’s Exit from Fossil Fuels
Tesla and SpaceX CEO Elon Musk called for a carbon tax during a speech to students at the Sorbonne in Paris.
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Moving America FORWARD
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