I know what you’re probably thinking. Aren’t Democrats already the party of high taxes? Haven’t they always been? Yes, that’s true but the point of this Vox article is that Democrats no longer have any social welfare goodies to offer because tax cuts have become popular, even among Democrats. Vox calls this the “core contradiction”...
If the rich are so powerful, if they supposedly manipulate public policy for their benefit, why are their taxes so high? Several years ago at a party, I met a woman who loudly railed against “the rich” whom she insisted “paid no taxes.” ...
As the late senator from Washington state, Warren Magnuson, who served for more than 30 years in Congress, once said, “All that each industry seeks is a fair advantage over its rivals.” Wilt Chamberlain had a fair advantage on the basketball court because he stood 7-foot-1. It allowed him to score...
Well, maybe not entirely on Capitol Hill Republicans. A couple of weeks ago, the GOP began discussing a hike in the top tax rate to balance out predicted revenue reductions by expanding the state and local tax deduction (SALT) from its current cap at $10,000. The plan would be to get the new reconciliation bill...
If the IRS cuts 50,000 employees, the agency’s diminished capacity would result in a loss of $395 billion over 10 years. The Trump administration’s plan to cut the workforce of the Internal Revenue Service in half and gut enforcement efforts could enable the richest people in the United States to evade an additional $30 million...
Watch: Is the US heading into a recession? Three warning signs to watch Chinese officials are calling on US President Donald Trump to “completely cancel” his so-callled reciprocal tariffs, as a trade war between the world’s two biggest economies grinds on. This week, Trump announced a 90-day pause for a host of global tariffs he...
President Donald Trump has unveiled plans for sweeping new import taxes on all goods entering the US, in a watershed moment for global trade. The plan sets a baseline tariff on all imports of at least 10%, consistent with a proposal Trump made on the campaign last year. Items from countries that the White House...