Taxation

Exposing Trump’s Payroll Tax Deferral as ‘Wage Theft,’ Treasury Signals Millions of Workers Will Earn Less in 2021 Under Plan

Days after the payroll processor for the federal government—one of the nation’s largest employers—announced it would implement President Donald Trump’s plan to defer payroll taxes for the rest of 2020, the U.S. Treasury Department indicated that employers will be responsible for paying the deferred taxes next year.  The plan is scheduled to go into effect …

Exposing Trump’s Payroll Tax Deferral as ‘Wage Theft,’ Treasury Signals Millions of Workers Will Earn Less in 2021 Under Plan Read More »

As Trump Pushes New Tax Cuts for Wealthy, Analysis Shows US Billionaires $800 Billion Richer Since Pandemic Hit

As President Donald Trump and top members of his administration continue their push to deliver another round of tax cuts to rich investors, an analysis published Tuesday by the Institute for Policy Studies and Americans for Tax Fairness showed that U.S. billionaires have seen their collective wealth soar by nearly $800 billion since Covid-19 began …

As Trump Pushes New Tax Cuts for Wealthy, Analysis Shows US Billionaires $800 Billion Richer Since Pandemic Hit Read More »

“That’s How They Got Capone”: Filing by NY Prosecutors Indicates Broader Probe Into Alleged Trump Tax Fraud

Court filings by Manhattan District Attorney Cyrus Vance Jr. on Monday led to renewed speculation that prosecutors in New York have targeted President Donald Trump with a wider probe into possible fraud or other financial crimes than was previously known—demanding eight years of personal as well as business tax documents just weeks after the U.S. …

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To Fund Covid-19 Recovery and Better Future, 83 Super Rich People Say Tax Us More ‘Immediately. Substantially. Permanently.’

A group of more than 80 self-described “millionaires for humanity” came together Monday to urge governments across the globe to tax them and other ultra wealthy people to cover the immediate costs of the coronavirus pandemic and to build more equitable, just societies in the long term. “We can ensure we adequately fund our health …

To Fund Covid-19 Recovery and Better Future, 83 Super Rich People Say Tax Us More ‘Immediately. Substantially. Permanently.’ Read More »

Tax the Rich and Divert Billions From NYPD Budget to Fund Public Hospitals, Says Nurses Union

New York’s largest union of registered nurses is calling on the state’s Democrat-controlled government to divert billions of dollars from jails, the New York City Police Department, and the pockets of the rich to help fund public hospitals that have been strained beyond capacity by the coronavirus pandemic. In an internal memo obtained Monday by …

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Trump Says He Won’t Approve Covid-19 Package Without Tax Cut That Offers Zero Relief for 30 Million Newly Unemployed

President Donald Trump on Sunday said he will not approve another badly needed Covid-19 stimulus package if it doesn’t include a payroll tax cut, a policy that would strike a blow to Social Security and Medicare funding while offering no relief for the more than 30 million people who have lost their jobs over the …

Trump Says He Won’t Approve Covid-19 Package Without Tax Cut That Offers Zero Relief for 30 Million Newly Unemployed Read More »

“Pelosi’s Terrible Idea”: Critics Denounce Proposal to Give Wealthy a Tax Cut in Next Stimulus Package

House Speaker Nancy Pelosi is reportedly set to propose rolling back a cap on tax deductions, which would benefit high-earning Americans, as part of the next step of an economic stimulus package that has already poured trillions into the U.S. economy—much of it going to the richest individuals and corporations in the country.  “This is almost …

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