Tag: Taxes

Newsom’s Cynical Flip on Proposition 30 Should Disqualify Him From the Presidency

A significant political difference in the two situations is that the Massachusetts measure was crafted to draw broad union support and unify the 99 percent around shared priorities. Teachers’ unions and transit advocates organized support for it. Proposition 30, unhappily, was opposed by the California Teachers Association, or CTA, which has a deplorable record of […]

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Supreme Court Allows Congress to Finally See Donald Trump’s Tax Returns

Last week, Klobuchar sent a letter to Michael Rapino, CEO of ticketing giant Live Nation, expressing concerns about the ticketing industry’s monopolistic behavior, and questioning Rapino on whether Live Nation’s practices were working to mitigate those monopolistic tendencies. Senator Richard Blumenthal and Representatives Ilhan Omar, Alexandria Ocasio-Cortez, David Cicilline, and Bill Pascrell joined Klobuchar in […]

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Dennis Rodman Tax Case Is About Confidentiality

Dennis Rodman during Maxim Magazine’s Hot 100 – Arrivals at Montmartre Lounge in Hollywood, … [+] California, United States. (Photo by Chris Polk/FilmMagic) FilmMagic Resolving lawsuits involves taxes. Defendants write off most settlements, and plaintiffs hope to minimize any taxes they face. Plaintiffs also hope to minimize the tax impact of their attorney fees, something […]

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Chief Justice John Roberts Delays Release of Trump Tax Records Till After the Election

Here is the deleted tweet from @CaptClayHiggins, a member of @HomelandGOP. pic.twitter.com/2GRdhwiOvz — Steve Herman (@W7VOA) October 30, 2022 Ever the chaser of his father’s approval, Donald Trump, Jr. posted a crude photo of a hammer and men’s underwear on his Instagram, with the caption “Got my Paul Pelosi Halloween costume ready”—echoing Higgins’ anti-LGBTQ smear: […]

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Can Republicans Learn To Fight The Federal Reserve?

Ask Republicans—who will win both houses of Congress next month—what to do about inflation, and they’ll reply: “Cut spending.” They might add cut taxes and regulations so the economy can produce more products and services, thereby lessening the pressure on prices. But they usually omit the role of the Federal Reserve, which, as this episode […]

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Did Liz Truss Kill Reaganomics?

I’m not sure exactly why. I’d like to think it’s because House GOP leaders recognize that cutting taxes will increase inflation—that Reagan was wrong to think otherwise. But this is Kevin McCarthy we’re talking about, not Ezra Klein. It would make sense that Truss’s belly-flop on taxes scared McCarthy, but the timing doesn’t work; Truss’s […]

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Phil Gramm Goes There: Ebenezer Scrooge Has Been Misunderstood!

Gramm also ignores something else. The 91 percent top marginal rate (and, to a lesser extent, the 70 percent top marginal rate), by design, discouraged companies from paying salaries in excess of the dollar threshold (since most of that extra would go directly to the government). President Franklin Roosevelt, during World War II, wanted to […]

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Plaintiffs In Sexual Harassment Cases Are Taxed, Defendants Are Not

NEW YORK, NY – DECEMBER 09: People carry signs addressing the issue of sexual harassment at a #MeToo … [+] rally outside of Trump International Hotel on December 9, 2017 in New York City. (Photo by Stephanie Keith/Getty Images) Getty Images Tax issues arise in nearly every sexual harassment settlement. In employment settings, some of […]

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There’s Never Been a Better Time to Be a Scammy Nonprofit

While Charity Navigator initially placed an advisory on QL+, noting the allegations in the Los Angeles Times, it removed any mention of the scandal, following communication between the two parties and what a Charity Navigator official described as proof of “corrective action.” In internal emails, the QL+ leader also expressed a need to focus on […]

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How Red States Use Regressive Grocery Taxes to Feed the Rich

Advocates at Alabama Arise have pushed a cap on the FIT deduction as the way to raise the revenue needed to repeal the grocery tax. But it’s generally been difficult to sway conservatives to support any tax increase. Still, Gundlach said, this past session was the closest the campaign had gotten in more than a […]

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Charlie Sheen Will Pay IRS $3.3 Million And Possible Share In Future Earnings

Charlie Sheen (shown during an event in Sydney Australia in 2018) has reached a deal with the IRS … [+] that gives Uncle Sam $3.3 million and a cut of any increase in his future earnings. (Photo by Don Arnold/WireImage) WireImage Charlie Sheen’s tax woes seem to be at an end. I mainly remember Sheen […]

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Two Cheers for the Inflation Reduction Act

The 15 percent minimum tax has The Wall Street Journal’s editorial board’s knickers in a twist because nearly half of the revenue would be raised from manufacturers. But the tax would fall only on businesses that average more than $1 billion in profits over three years. That means the tax would affect only 150 of the nation’s very biggest corporations, […]

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Manchin and Schumer Surprised Everyone With the Inflation Reduction Act—Even Democrats Themselves

Representative Jamaal Bowman, another progressive, told reporters on Thursday that he was “very disappointed and actually pretty angry that the childcare provisions were taken out.” But he was circumspect about most Democrats being left out of the final negotiating process. “They’re senators, you know; one is the Senate majority leader, and one has been a […]

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The Republican War on the Common Good

This is a core principle of civilized society: We all contribute to certain activities that have clear universal social benefit. To use Underwood’s sick terminology, that guy pays for that guy’s child to be educated because the first guy benefits when the second guy’s kid is learning math and science and pondering Hamlet’s soliloquy and […]

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The Suspicious Swing of Trump’s Taxman’s Axe

I said earlier that it would be “a little surprising” if Trump and his allies were behind this—not because I have any real confidence in Trumpworld’s ethics or morals but because the IRS is supposed to have safeguards built in to prevent these sorts of abuses. It was Richard Nixon who pioneered the use of […]

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