The movers and shakers of scandal-ridden Wall Street are busy scapegoating a 'few rotten apples' — and hoping the rest of us don't notice they're still holding billions in ill-gotten gains.
Changes in state tax laws now encourage America’s awesomely affluent to create “perpetual” trusts for their heirs. The combination of these new laws and new technology, legal scholars are warning, now allows the “dead hand” of the past to rule over the living. In essence, immortality for the rich.
It’s beginning to look a lot like Christmas
Ev’rywhere you go;
Take a look in Tiffany’s store, glistening once again
With Wall Street bonus trinkets all aglow.
It’s beginning to look a lot like Christmas
Art flies from Christie’s.
But the amazing sight to see is the tax cut guarantee
For the most wealthy.
Hedge funders content, still paying 15 percent
Is the wish more »
Until this week here is what we heard over and over (and over and over and over and over): Because of budget deficits (caused by tax cuts for the rich and huge increases in military spending) we have to cut spending, not invest in the American People, put off investing in the infrastructure that makes the country competitive, cut jobs programs, cut education, cut rail projects, freeze pay, cut hir more »
Another billionaire has bit the dust here in 2010, and another grand fortune, thanks to this year's absence of an estate tax, is passing on tax-free to extremely fortunate heirs. But a new resource may help overcome the lies and half-truths that have the estate tax reeling.
Progressives in the U.S. Senate have introduced a potent package of estate tax reforms that would, if enacted, start seriously trimming America's most super-sized hoards of private wealth.
In 2010 America, schools, students, and teachers share the pain. The heirs to our mega rich, meanwhile, don't have to share anything. For the first time in nearly a century, we have no federal estate tax.
When the 2010 budget was moving through Congress, conservatives, while refusing to support the budget out of a misguided sense of "fiscal responsibility", inserted an amendment into the budget that would cut the estate tax for the richest 5,854 multimillionaire families in America, while costing the government over $300 billion in lost revenue over the next 10 years. Just when it looked like this wildly irresponsible and regressive measure was going to find safe harbor in the budget, we responded by asking progressives to make their voices heard. more »
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