• FILE PHOTO: Democratic presidential candidate Senator Elizabeth Warren speaks during the fourth U.S. Democratic presidential candidates 2020 election debate at Otterbein University in Westerville, Ohio U.S.

    Pushing Back Against the Wealth Tax at the Dem Debate

    By Michael Rainey

    Sen. Elizabeth Warren defended her proposed wealth tax at the Democratic presidential debate on Wednesday night: “I’m tired of freeloading billionaires,” Warren said . “I think it's time that we ask...

  • Social Security and Medicare taxes

    Democrat's New Taxes Wouldn't Hit Just Billionaires

    By Michael Rainey

    Some Democratic tax proposals are focused on making millionaires and billionaires pay more, but other households would be affected as well. Neil Irwin of The New York Times points out Tuesday that...

  • A security camera hangs near a corner of the Internal Revenue Service (IRS) building in Washington

    An Easy Way to Get $1 Trillion More in Tax Revenue?

    By Michael Rainey

    The first step in reforming the U.S. tax system doesn’t involve raising rates or eliminating deductions, say former Treasury Secretary Lawrence Summers and Penn Law professor Natasha Sarin. Instead,...

  • FedEx cuts forecast as air freight weakness hits profit

    FedEx Battles New York Times Over Trump’s Tax Cuts

    By Michael Rainey

    The New York Times published a piece Saturday highlighting the huge windfall FedEx received from the 2017 GOP tax cuts — and the company’s CEO isn’t happy with the analysis. According to the Times,...

  • FILE PHOTO - Visitors attend the 26th Monaco Yacht show in Monte Carlo port

    Tax Break for Poor Neighborhoods Is Helping Build a Superyacht Marina

    By Michael Rainey

    The 2017 Tax Cuts and Jobs Act created special “opportunity zones” that give investors generous tax breaks in exchange for investing in low-income neighborhoods. The purpose of the tax law is “to...

  • The Incredible Shrinking Tax Rate for the Rich

    By Michael Rainey

    The highest-income households in the U.S. have seen an enormous reduction in their overall tax burdens since 1950, a development highlighted Sunday by The New York Times’ columnist David Leonhardt,...

  • Would a Warren/Sanders Wealth Tax Kill the Economy?

    By Michael Rainey

    As Democratic presidential candidates debate a variety of new social programs, from universal health care to free higher education, Elizabeth Warren and Bernie Sanders are calling for a wealth tax to...

  • IRS: Sorry, but It’s Just Easier and Cheaper to Audit the Poor

    By Paul Kiel, ProPublica

    The IRS audits the working poor at about the same rate as the wealthiest 1% . Now, in response to questions from a U.S. senator, the IRS has acknowledged that’s true but professes it can’t change...

  • Senator Elizabeth Warren delivers a major policy speech  in Washington

    Elizabeth Warren Wants to Tax Corporate Lobbying

    By Michael Rainey

    Elizabeth Warren released a proposal to tax companies that spend more than $500,000 a year on lobbying the federal government. The goal of the plan is to “end lobbying as we know it,” Warren said in...

  • Tents and tarps erected by homeless people are shown along the sidewalks in the skid row area of downtown Los Angeles, California

    Rising Income Inequality Is a Fiscal Risk: Moody’s

    Income inequality in the United States last year reached the highest level since the Census Bureau started tracking it more than 50 years ago, even as median household income also reached a nominal...

Taxes Directory

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