Truthout
Taxes
For Every $1 Gained by a Bottom 90 Percenter Since 2020, a Billionaire Got $1.7M
A report finds the top 1 percent seized twice the new wealth as the rest of the world in the past two years.
Trump Organization Hit With Maximum Fine of $1.6 Million for Tax Evasion Scheme
Though the fine amounts to pocket change for the company, the reputational hit from the 17 felonies could be ruinous.
Republicans Vote to Revoke IRS Funding, Which Would Raise Deficit by $114B
The White House slammed the bill, saying the GOP has made it clear its top priority is to protect rich tax cheats.
Tax Returns Show Trump Committed “Brazen” Tax Fraud, Says David Cay Johnston
The tax returns show that Trump paid more income taxes to foreign governments than to the United States, Johnston says.
When It Comes to Greed and Tax Dodging, Sanders Points Out “Trump Is Not Alone”
Sen. Sanders called out seven major companies that also paid no federal income taxes in 2020.
States Take Tax Revenue Vital for Funding Tribal Services
State and local governments often tax economic activity on tribal land, reducing what tribes can collect for themselves.
Musk Pledged $6B to Solve World Hunger But Gave It to His Own Foundation Instead
Instead of giving the money to charity, Musk likely “donated” the money for tax-dodging purposes.
Dozens of Groups Urge Congress Not to Extend Trump’s Corporate Tax Cuts
Corporations like Amazon and Northrop Grumman have been lobbying for the tax breaks.
Sanders: GOP Wants to Repeal Estate Tax, Give Elon Musk’s Family $83B Tax Break
If the estate tax were repealed, it would give $1.75 trillion in tax breaks to the 0.1 percent, he said.
A Wealth Tax on the 0.25 Percent Could Fund Biden’s Entire Student Debt Plan
A modest 2 percent wealth tax on households with over $30 million in wealth could have raised over $400 billion in 2022.