Dems' Plan To 'Tax the Rich' Might Include a Huge Tax Break for the Rich
Repealing the cap on the SALT deduction would overwhelmingly benefit the wealthiest households in America.
Repealing the cap on the SALT deduction would overwhelmingly benefit the wealthiest households in America.
The president says the IRS needs just two bits of information: all the money that goes into your bank account, and all the money that comes out.
There simply aren't enough rich people to finance all the new spending.
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A minority of the population picking up the tab would be dangerous if the situation were to last.
And as many as 75 percent of middle income households face a tax increase under Biden's plan, even though the highest-earning households will pay the vast majority of the costs.
Six different states are already suing over a broad prohibition on tax cuts that was slipped into March's $1.9 trillion COVID relief bill.
Another new Democratic administration, another hollow promise to discover hundreds of billions of unreported tax obligations under the national mattress.
The new report doesn't reveal anything we didn't already know.
But it would triple the IRS budget and give the tax cops a lot more power to make life miserable for individuals and businesses.
No country gets out of poverty through redistribution of income.
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The state and local tax deduction overwhelmingly benefits rich households in high-tax states while shifting their federal tax burden to everyone else.
The White House says cracking down on tax cheats will generate $700 billion over 10 years to help offset a $1.8 trillion expansion of welfare programs.
Tax hikes and growing debt guarantee shared pain in a hobbled economy.
Workers will suffer.
The White House is reportedly considering hiking the corporate income tax to 28 percent and raising individual income taxes on high earners to pay for more federal spending.
Lawmakers are bribing citizens with a tiny tax break in exchange for the power to jack up income tax rates down the line.
He is expected to be extradited to face the charges he knew were coming, which inspired his past few years of international exile.
Major-party politicians avoid tax simplification almost as aggressively as the rich avoid taxation, argue the Reason Roundtable panelists.
Do you appreciate the incompetence, in-fighting, obstructionism, authoritarianism, and waste that you pay for?
The extension allows some individuals and businesses to keep more of their money for three extra months at a time when millions of Americans are likely to be out of work and struggling to make ends meet.
Some 76 percent of Texas voters approved a constitutional amendment that prohibits the state from imposing any income tax.
Voters will decide next year whether to impose it.
Surprised? Yeah, neither are we.
Americans are increasingly reluctant to pay the IRS. Who can blame them?
Rep Ocasio-Cortez and her progressive followers think taxing the rich at 70% will bring in lots of tax money. It won't.
In one of the country's highest-profile campaigns, featuring Democratic heartthrob Stacey Abrams vs. Trumpian Secretary of State Brian Kemp, Ted Metz is likely pulling enough votes away to force a runoff.
New York gets salty over new limits because now the rich will know they're being soaked.
The city council's desire to 'tax the rich' collided with the plain text of Washington state law.
Gilbert Hyatt's 25-year legal battle is a story of greed, harassment, anti-semitism, and the abuse of power.
Man who argued there is no legal obligation to pay income tax dies of cancer shackled to prison hospital bed at age 87.
Meanwhile U.S. intergenerational income mobility has not slowed.
A guaranteed income would reduce the humiliations of the current welfare system while promoting individual responsibility.
Would be eighth state to do so
The late Sen. Frank Lautenberg's true legacy is one of entrepreneurship.
The income tax, Mr. President, is the issue—not harassment by the tax police, not "bracket creep," not loopholes for the rich, but the very income tax itself.