The swamp monster who Donald Trump chose as Treasury secretary has a plan to save the richest of the rich billions and billions in taxes – and without any vote by Congress, either.
Not a single wiretap request, federal or state, was rejected by any judge, an annual disclosure report from the federal courts released on Wednesday. Nearly all the taps were of mobile phones.
Which country do rich people willing to break the law to escape taxes favor most as the place to hide their money? Chances are you’re in it right now.
Within days Trump promoted a Federal Trade Commission member, Ajit Pai, to chairman. The former Verizon lawyer was first appointed by Former President Barack Obama.
Donald Trump promised to put America, and especially American workers, first in every decision, but his actions make clear that he is pursuing a strategy of Make China Great Again.
With his toxic amalgam of incompetence and thin-skinned emotional reactions, Trump gives aid and comfort to those who would diminish America’s standing in the world, especially the communist dictatorship in China and the land-grabbing czar in Russia.
The way that Trump “funneled” hush money to a porn actress just 11 days before the election sure makes it look that way. This would be consistent with four decades of Trump claiming vast wealth, but not being able to pay his bills as they come due.
Reprinted with permission from DCReport. Those 48 issues that Robert Mueller wants to ask Donald Trump about tell us that the special prosecutor’s focus is not on financial crimes Trump has committed, but on the nature of his relationships with the Kremlin and Russian-speaking influencers. That’s significant because Mueller’s charter as special prosecutor is to […]
In a Tax Day essay under the byline of Donald Trump, the USA Today newspaper has allowed the 45th president to tell an utterly misleading story about the tax “reform” law he signed into law in December. The calculated deceptions in this piece matter a lot because the front page of that same newspaper declares “Exclusive: GOP banks on tax cuts to keep majority in Congress.”
Further, the inept and dishonest way the White House and Trump’s personal lawyer have handled the matter underlines the many facts that establish this administration is a kakistocracy, a government of the venal, the corrupt and the incompetent. Instead of the best and the brightest, the Trump administration draws on the worst and the dullest.
You might think that a former IRS executive or a prosecutor with experience in tax cases or a state tax administrator or another person whose job is to look out for the interests of the taxpayers generally, not individual taxpayers, would be a logical choice. Not in Trumpland.
As the 2016 presidential campaign began, Pulitzer-winning journalist David Cay Johnston wrote “21 Questions For Donald Trump” — a penetrating examination of the casino mogul’s shady past that became one of the most popular articles ever published by National Memo. In his new book It’s Even Worse Than You Think: What The Trump Administration Is […]
Reprinted with permission from DCReport. James S. Henry, an economist and expert on global tax avoidance, reports that the new Trump tax law gives Apple and other multinational companies a sweetheart deal—several sweetheart deals, actually—that could total as much as $2.6 trillion. This is an important story that the mainstream news missed. We have it all […]
Buried in the hastily drafted tax bill’s more than 500 pages are provisions eliminating “miscellaneous” deductions taken by almost 28 million taxpayers in 2015. Those are costs you bore to support your job or an investment you own or to pay a professional to prepare your income tax return.
Buried in the in the two tax bills being rushed through Congress is a fleet of lucrative opportunities to escape taxes, though no one is talking about this costly and unnecessary problem. By the way, you won’t qualify for these tax favors unless you are mega-rich. The bills create tax avoidance yachts, not small sailboats or dinghies—and certainly not life rafts.
The House tax bill is an all-out attack on the future prosperity of America, not that any of the major news organizations are telling you that in plain English. Lost in the dense bureaucratic language of modern news reports is the simple fact that the House bill takes from striving students so that the already rich and major corporations can have more.
Bias for the super-rich, at the expense of everyone else, lies at the heart of the tax bill that Republicans hope to rush into law without public hearings. The most outrageous example of this is a plan to make sure that the richest of the rich never have to pay taxes on their investment gains.
Or to put it another way: The nice young couple who just opened their own independent coffee shop around the corner will likely be hit with a huge tax increase—as much as 250%—while the corporation that operates thousands of coffee shops all around the world is getting its taxes cut 43%.
What’s being proposed is a sleight of hand, or a tax unicorn. The child tax credit is there in the law books all right, but not in terms of money actually getting to parents. For people to actually qualify, there would have to be major changes to the tax-credit structure that are not included in the Republican plan. Indeed, without those changes, the full credit may not be collected by a single household.
Based on public statements by Trump, his surrogates and top Republican tax writers on Capitol Hill, what is coming is a tax-cut plan for billionaires. The Trump tax plan focuses on cutting the taxes of those who are self-employed or who own businesses while sticking it to wage and salary workers, even those earning quite generous salaries.