Dear President Biden, Senators and Representatives: As groups dedicated to social, racial, gender, and economic justice, we are writing to urge the new administration and Congress to make strengthening Internal Revenue Service (IRS) tax enforcement a top priority in 2021 and beyond. Fair and adequate tax enforcement is critical for ensuring a tax system and […]
Over the past decade, because of steep budget cuts, the Internal Revenue Service (IRS) has reduced its audits of wealthy individuals and corporations so dramatically that now, low-income individuals receiving Earned Income Tax Credits are now audited at the same rate as the top one percent. As a result the U.S. loses hundreds of billions […]
As pollsters for President Biden’s campaign in both the primary and general election, we found that few issues generated broader, more intense support than raising taxes on those earning over $400,000 a year and closing tax loopholes for big corporations. The issue of tax fairness was therefore a core part of the Biden campaign’s messaging […]
Today, the Washington Post reported that four big drug companies plan to deduct opioid-abuse settlements from their corporate taxes, saving each company roughly $1 billion, at the expense of American taxpayers. And those deductions are supercharged thanks to a provision in the coronavirus-relief CARES Act enacted last March. Companies generally may not write off amounts […]
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Corporate and Business Taxes: Repeals the most egregious tax breaks in the 2017 Trump-GOP tax law (the Tax Cuts & Jobs Act, or TCJA). Increases the corporate tax rate from 21% to 28%, aims to reduce outsourcing and create jobs here at home, and reduces tax dodging from profit shifting to tax havens. Individual Taxes: […]
February 3, 2021
PANDEMIC SUPER BOWL 2021: BILLIONAIRES WIN, WE LOSE
In Midst of Pandemic That Devastated Society, Including Sports, Total Wealth of 64 Billionaire Sports Barons Shot Up By $98.5 Billion, or over 30% Taxpayer Subsidies for Stadiums of 26 Billionaire Team Owners Have Totaled $9 Billion Since 1990, with most in last decade We won’t know the winner of this year’s Super Bowl till […]
Gains of 13 Richest Residents Could Cover State’s $3 Billion Budget Shortfall Fifty Times Over & Still Leave Billionaires as Rich as They Were Before Pandemic State Wealth Tax Getting Hearing in Legislature Today Could Raise Billions a Year While Barely Slowing the Growth of Billionaire Wealth The collective wealth of Washington State’s 13 known […]