Tag: Taxation

The Other Candidates Are Coming for Warren

Listen and subscribe to our podcast from your mobile device: Apple Podcasts | Spotify | Google Play | RadioPublic | Stitcher Under attack from her Democratic rivals, can Elizabeth Warren hold on to her new front-runner status in the 2020 presidential primary? This week on “The Argument,” the columnists discuss the fallout from the fourth […]

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How to Tax Our Way Back to Justice

America’s soaring inequality has a new engine: its regressive tax system. Over the past half century, even as their wealth rose to previously unseen heights, the richest Americans watched their tax rates collapse. Over the same period, as wages stagnated for the working classes, work conditions deteriorated and debts ballooned, their tax rates increased. Stop […]

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In the Land of Self-Defeat

CLINTON, Ark. — Inside Washington, there’s a sense that this scandal really is different. Even the White House’s memorandum of the phone conversation President Trump had with the Ukrainian president in July makes it clear that Mr. Trump asked a foreign country to help him undermine a political rival. But while national polls show support […]

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Democrats’ Plans to Tax Wealth Would Reshape U.S. Economy

WASHINGTON — Progressive Democrats are advocating the most dramatic shift in tax policy in over a century as they look to redistribute wealth and chip away at the economic power of the super rich with new taxes that could fundamentally reshape the United States economy. As they compete for the Democratic presidential nomination, Senators Elizabeth […]

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Japan Raises Taxes on Its Spenders Despite Growth Worries

TOKYO — Yasuo Sugiuchi can’t avoid death, but he knew that — if he hurried — he would be able to escape taxes. The 52-year-old owner of a home repair business rushed to buy a new familial cemetery plot to beat a tax increase that could have a profound impact on the country’s spenders. Japan […]

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Bernie Sanders Proposes a Wealth Tax, Taking Aim at Billionaires

WASHINGTON — Senator Bernie Sanders on Tuesday is set to unveil a proposal to create a new tax on the wealth of the richest Americans, including a steep tax on billionaires that could greatly diminish their fortunes. With the proposal, Mr. Sanders is embracing an idea that has been a centerpiece of the campaign of […]

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Tragedy in a Kips Bay Elevator

Weather: Showers may pop up early, but the sky should brighten as the day progresses. Cooler than yesterday, with highs in the low 80s. The weekend should be mostly dry and in the 70s. Alternate-side parking: In effect until Labor Day (Sept. 2). ImageCreditJefferson Siegel for The New York Times The residents knew the elevators […]

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Want to Prevent a Recession, Mr. Trump? Stop Hurting the Economy

Here’s some free advice for President Trump and his economic advisers, who are frantically searching for measures to ward off a recession: Look in the mirror. The White House has reason to worry about the economic outlook. There are clear signs of weakness in recent economic data, and forecasters see an increasing chance that the […]

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Trump Administration Considers Moves to Bolster Economy

White House officials have begun preparing options to help boost the American economy and prevent it from falling into a recession, including mulling a potential payroll tax cut and possibly reversing some of President Trump’s tariffs, according to people familiar with the discussions. Mr. Trump continues to insist the economy is “doing tremendously well” and […]

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Trump Says U.S. Will Hit China With More Tariffs

WASHINGTON — President Trump escalated his trade war with China on Thursday, saying that the United States would impose a 10 percent tariff on an additional $300 billion worth of Chinese imports after China failed to keep its promise to buy more American agricultural products. Mr. Trump, who had agreed in June not to impose […]

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Why Rate Cuts Don’t Help Much Anymore

Now that it has finally happened, don’t expect the Federal Reserve’s long-awaited rate cut to make all that much of a difference for the economy. In the weeks leading up to Wednesday’s decision to cut the benchmark Fed funds rate by 0.25 points to 2.25 percent, the stock market seemed to leap whenever Jerome H. […]

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Wealth Tax and Free College Get Poll Support. Democrats Worry It Won’t Last.

There is a puzzle for the Democratic challengers hoping to unseat President Trump, and it is evident in public reaction to some of their breakout policy ideas. Polls show several of those ideas are quite popular with the electorate, including taxing the assets of very wealthy Americans and offering free college and government-paid health care […]

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Is My Health Plan a Cadillac? Why Are We Comparing Health Insurance to Cars?

ImageAt an Independence Day parade this month in Washington.CreditErik S Lesser/EPA, via Shutterstock The House voted to repeal the Cadillac tax on Wednesday, aiming to make permanent what previous Congresses have merely postponed. The tax was a provision of the Affordable Care Act intended to lower health spending and reduce the federal deficit. But Congress […]

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State and Local Taxes Are Worsening Inequality

Economic inequality is on the rise in Illinois, and the state government is part of the problem. Illinois taxes low-income families at much higher rates than high-income families, asking the most of those who have the least. Low-income households in Illinois pay about 14 cents in state and local taxes from every dollar of income, […]

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Back-to-School Sales Tax ‘Holidays’ Lure Shoppers Despite Slim Savings

If you missed out on the blitz of deals offered early this week by many online retailers, don’t despair: There may be additional savings on the horizon, as more than a dozen states gear up for their annual summer sales tax “holidays.” This year, 16 states are offering back-to-school promotions, exempting many items, including clothing, […]

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Beware. Other Nations Will Follow France With Their Own Digital Tax.

Last Thursday, the French Senate passed a digital services tax, which would impose an entirely new tax on large multinationals that provide digital services to consumers or users in France. Digital services include everything from providing a platform for selling goods and services online to targeting advertising based on user data, and the tax applies […]

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22 States Considered Eliminating the ‘Tampon Tax’ This Year. Here’s What Happened.

Why are tampons taxed when Viagra isn’t? That’s the question at the heart of the push to repeal the so-called tampon tax, a catchy phrase that refers to state sales taxes applied to menstrual products, including pads and cups. Thirty-five states still tax the items, despite momentum to change that. Opponents of the tax argue […]

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Fed Faces Tricky Choice Amid Looming Risks and Trump Pressure

WASHINGTON — Federal Reserve officials are expected to leave interest rates unchanged on Wednesday, but officials face a tough decision as economic data sends conflicting signals, trade tensions run high and political pressures mount. Overall growth and consumer spending remain strong a decade into the economic expansion, but job gains are slowing, the factory sector […]

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