Archive for the ‘taxes’ Category

IRS Requirement to Report Stolen Property as Income Goes Viral

Several posts displaying the Internal Revenue Service’s (IRS) guideline requiring taxpayers to report stolen goods as income went viral this week, leading to an array of online speculation as to the practical consequences of the requirement as well as references to the recent wave of mass lootings. The IRS requires U.S. citizens to list goods […]

IRS Record Tax Collection: $565,135,000,000 in First Two Months of FY 2022

The U.S. Treasury is reporting a record amount of taxes collected in the first two months of fiscal 2022 (October, November) — $565,135,000,000. The federal government also collected a record $282,094,000,000 in individual income taxes in the first two months of this fiscal year. The CNS News website reported on the record intake: The $921,526,000,000 […]

What’s that ‘surtax’ doing in Build Back Better?

Image Credit: Filip Warulik/iStock, BeeBright/iStock ales tax. Property tax. Income tax. We all know what these three familiar taxes tax. But what does a “surtax” do? What difference, in particular, is the Build Back Better “surtax” that just passed the House of Representatives going to make? Maybe a big difference. In fact, if the Senate […]

San Diego County to Implement 4-Cent-Per-Mile Tax

The San Diego Association of Governments’ (SANDAG) board met Oct. 29 virtually to discuss a four-cent-per-mile tax proposal that could impact every driver in San Diego County by 2030. The proposed mileage tax is intended to supplement and eventually replace gas taxes, which have dropped considerably as gas mileage has increased and hybrid and electric […]

The ‘Smoke And Mirrors’ Billionaires Tax

Above photo: House Speaker Nancy Pelosi during an event in the Rose Garden of the White House in Washington, D.C., on Friday, March 12, 2021. Jim Lo Scalzo | Bloomberg | Getty Images. And 15% Minimum Corporate Tax Proposals. After a well-choreographed internal party policy debate dance this past summer, Biden and party leaders, Pelosi […]

Cash for Kids, No Work Required

Commentary Democrats used to be the party of working people. Now, they sneer at people who work hard. Democrats pushing to pass the Build Back Better bill want a single parent with two kids to be able to take home well over $31,000 in cash and noncash federal benefits a year, tax-free, without having to […]

Why Not A Financial Transactions Tax?

Above Photo: World Financial Review. As Senator Sinema gets Biden to drop his proposed tax increases on corporations and wealthy investors earning more than $400K income a year, no consideration is being given at all within Democrat party circles about introducing a financial transactions tax to pay for the Infrastructure bill ($.55T) or the Build […]

US billionaires are now $2.1 trillion richer than before the pandemic

America’s billionaires have grown $2.1 trillion richer during the pandemic, their collective fortune skyrocketing by 70 percent — from just short of $3 trillion at the start of the COVID crisis on March 18, 2020, to over $5 trillion on October 15 of this year, according to Forbes data analyzed by Americans for Tax Fairness […]

Our ‘trillion-dollar seven’: Can we summon the courage to tax them?

The collective wealth of the seven wealthiest Americans, all white men, has now just about reached $1 trillion. These seven pay virtually nothing in income tax. This past April, I reported on another obscene milestone in U.S. wealth concentration. Back then, for the first time ever, $1 trillion sat in the pockets of just eight […]

How Uncle Sam can encourage corporations to be more patriotic

Image Credit: Glen Lowry Since the struggle for American independence, times of national crisis have called for shared sacrifice. In World War II, for example, a number of top business executives became “dollar-a-year men” who donated their know-how to the war effort for a token sum. To those on the front lines, that sort of […]

Patriotic Millionaires urge global leaders to combat tax avoidance through wealth tax on world’s billionaires

The Patriotic Millionaires are urging global leaders to impose a wealth tax on the world’s billionaires to build fairer economies post COVID. According to an analysis conducted by the Program on Inequality at the Institute for Policy Studies, if billionaires paid an annual wealth tax in 2020, “modeled on the ‘Ultra-Millionaire Tax’ levy proposed by […]

The Secret IRS Files

The Secret IRS Files Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax. ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing. In 2007, Jeff Bezos, then a […]

Nearly 1 in 4 American Expats Eye Renouncing US Citizenship Over Tax Requirements

    Similar to tax practices followed within the US, American citizens living abroad must also report their annual income to the Internal Revenue Service, meaning expats are likely to file and pay taxes in two places. Although the agency implements measures to avoid double taxation, tax-filing requirements have still proven a hurdle for expats. […]

Stakeholders: Biden Declares War on Small Businesses in First 100 Days: Success Tax, Worker Shortage

Business owners Wednesday joined Alfredo Ortiz, president and CEO of the Job Creators Network, and Steve Moore, co-founder of the Committee to Unleash Prosperity, to talk about how President Joe Biden’s first 100 days in office represents a “war on small business.” Nicole Wolter, president and CEO of HM Manufacturing Company, and John Motta, Chairman of […]

Justice Department Sues Roger Stone, Alleging He Owes Nearly $2 Million in Unpaid Taxes

Plaintiff, the United States of America, brings this civil action to reduce to judgment and collect unpaid federal income tax liabilities owed by Defendants Roger J. Stone and Nydia B. Stone (collectively “Roger and Nydia Stone” or “the Stones”) for the years 2007 through 2011 and 2018. Drake Ventures LLC (“Drake Ventures”) is liable for […]

Tax Resisters Divert Their Money From War To Human Welfare

By Ella Fassler, Truthout. April 17, 2021 Above photo: It is because we consent and pay our taxes without much thought that half the money we pay the government is for war. Rob Kim/Mediaphotos/E+/Getty Images. President Biden’s foreign policy to date is largely indistinguishable from Trump’s. His administration hasn’t reversed tortuous sanctions against Iran, the […]

55 Corporations Paid $0 In Federal Taxes On 2020 Profits

Above photo: Tyko Kihlstedt. Read as PDF At least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year despite enjoying substantial pretax profits in the United States. This continues a decades-long trend of corporate tax avoidance by the biggest U.S. corporations, and it appears to […]

Huge Study Of 50 Years Of Tax Cuts For The Wealthy

Above photo: Rogelio V. Solis/AP. Suggests ‘trickle-down’ economics makes inequality worse. “Cutting taxes on the rich increases top income shares, but has little effect on economic performance,” the researchers concluded. Large tax cuts for the rich don’t lead to economic growth and employment but instead cause higher income inequality, a new study that examined tax […]

Crippling common good worldwide, landmark study shows $427 billion lost each year to tax dodging by corporations and the rich

A first-of-its-kind international report released Friday shows how wealthy countries are the primary drivers of tax revenue loss each year—contributing to $427 billion in losses to public funding annually and affecting the ability of countries all over the world, including developing nations, to provide services to the public. The Tax Justice Network’s inaugural State of Tax […]

Voters Pass A Tax On The Rich To Pay Teachers More

By Austin Walker, KVOA. November 9, 2020 Above photo: Christina Estes/KJZZ. Marana, AZ – Prop 208, Invest in Ed, passed. A 3.5 percent tax increase will be applied to any individual making more than $250,000 a year or if a household makes more than $500,000 a year. That money will go towards public education. Meagan […]

Netanyahu claims tax exemption for all expenses in private home — report

Prime Minister Benjamin Netanyahu has reportedly claimed that all expenses incurred at his private home in Caesarea are related to fulfilling his duties as Israel’s premier, and he should therefore be exempt from paying taxes on them. According to a Channel 13 report on Saturday, these expenses include food, electricity, and home repairs such as […]

Franklin Graham: Look Closely at Kamala Harris — ‘Most Liberal Senator in Congress’

With only a week before Election Day, Christian leader Rev. Franklin Graham asked his followers to evaluate the two candidates for vice president, should it become necessary for either of them to assume the office of president. “Who would you trust in this key position and to possibly one day fill the role of president […]

CNN’s Lemon: Rich Trump Supporters Not Wanting to Pay More Taxes Is ‘Selfishness’

CNN’s Don Lemon said the Tuesday broadcast of his program that rich supporters of President Donald Trump do not want to pay more taxes because of “selfishness.” Lemon was referencing an earlier segment on “Cuomo Prime Time,” in which CNN reporter Elle Reeve spent a day with Donald Trump supporters in Oregon at a dune buggy […]

Trump: November Election a Choice of ‘Super Recovery’ or ‘Biden Depression’

If Joe Biden (D) wins in November, he will raise taxes and plunge the country into a depression, President Donald Trump said Saturday at his rally in Janesville, Wisconsin. “This election is a choice between a Trump super recovery and a Biden depression. And you know they’re gonna raise your taxes substantially, like, quadruple,” he […]

Exclusive — Kayleigh McEnany: Media ‘Desperately Trying to Smear’ Trump, Who Has Already Donated $1.4 Million of Salary to Government

White House Press Secretary Kayleigh McEnany told Breitbart News exclusively that the New York Times piece on President Donald Trump’s taxes represents “liberal media” in an attempt to “desperately” engage in a “smear” of the president ahead of the election. The Times claimed that Trump only paid $750 in taxes in a piece over the […]

Carney: The New York Times’ Attack on Trump’s ‘Financial Acumen’ Is Nonsense

The New York Times’ contention that President Donald Trump’s tax returns “undercut his claims of financial acumen” does not hold water. Trump, however, is not doing himself any favors by not clearly explaining why he says his accountants figured he owed just $750 in taxes in 2016 and 2017—and not explaining that he actually paid millions in […]

U.S. $80 Billion Taxpayer Bailout Of General Motors Now Becomes China Motors!

Obama Gives Green Light To China ~ Breaching National Security: U.S. Companies Being Forced Into 50-50 Agreements With China. General Motors is becoming China Motors. Forget the spin. The evidence is clear and convincing. Did U.S. taxpayers save GM fo…

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes