Donald Trump's supporters didn't vote to make the richest richer, but the Republican Congress is about to with a plan to abolish the estate tax and allow tax loopholes to continue.
"Tax cuts skewed toward the wealthy elite starve our communities of much-needed resources while further tilting the scales toward large corporations and the rich," says the Main Street Alliance of Donald Trump's tax plan.
The solution to stem an annual estimated loss of $100 billion in tax revenue is for Congress to end the "deferral" loophole and make these companies just pay the taxes they owe.
As usual, Donald Trump stretched, distorted and outright denied the truth in the debate Monday night. Some of his biggest whoppers were about taxes. Here are the five most wrong-headed things Trump said about taxes.
In effect, Mylan execs have been emptying the pockets of allergy sufferers to make themselves considerably richer. But drug company executives didn’t use to have the same powerful motive to do that as they do today.
Imagine, if you will, going to the IRS and saying, “I don’t think the tax rate is fair so I’m not going to pay it.” Regular Americans can’t do that. But Apple CEO Tim Cook just did.
Progressive activists at a Donald Trump rally in Erie, Pa. silently held their tax returns high above their heads demanding that the GOP candidate release his returns – just like Hillary Clinton and her running mate, Tim Kaine.
We were promised a bold new vision. What we got instead was, with one or two notable exceptions, a warmed-over version of the House Republicans’ standard-issue voodoo economics.
Lobbyists for America’s grandest fortunes may want to raise their rates. Capitol Hill is getting a gadfly who can really sting – the man who exposed the "carried interest" loophole.
The Securities and Exchange Commission is in the last hours of accepting public comment on a rule that would require corporations to make public more information about their use of overseas tax havens.
Silicon Valley housing costs have skyrocketed thanks to the high salaries and stock options tech companies pay to attract skilled workers. Meanwhile, the companies dodge taxes that would help alleviate these problems.
Hillary Clinton has yet to make herself clear on how she would crack down on corporations using offshore havens to avoid paying taxes, Frank Clemente of Americans for Tax Reform says in this Burning Issues video.
The only uncertainty would be how the billions in tax giveaways to billionaires would be delivered: hand-delivered and wrapped in gold-plated bows, or directly wired from government coffers to their offshore accounts.
Silicon Valley's tech companies create billionaires and magnificently reward the "investor class," but they give little or nothing back to the surrounding communities and country.
Two reports reinforce one of Democratic presidential candidate Hillary Clinton's chief attack lines against competitor Bernie Sanders: that his "numbers don't add up" and that he is making promises "that cannot be kept."
Can we conquer disease without concentrating wealth in a precious few pockets? Not-so-distant American history offers a clear and encouraging answer. The victory over polio a half-century ago created no billionaires.
On this month’s 50th anniversary of one of the all-time edgiest Beatles tracks, our super rich have a special reason to look back fondly on the lads from Liverpool.
The Massachusetts senator takes on tax preparation services that make a lot of money off of complicated tax forms and don't want the Internal Revenue Service to implement a law that would make tax filing simpler.
Today is tax day. Ordinary Americans rush to file their taxes to avoid paying fines. Global corporations prefer to defer. They book $2.4 trillion as foreign profits and pay no U.S. taxes on them. This is one way the game is rigged.
Prohibiting the ability of plutocrats, corporations, outlaws and the worst of the worst to create anonymous shell corporations to avoid taxes and scrutiny should be at the center of our trade negotiations.
The Panama Papers show how wealthy people avoid paying taxes. But tax avoidance at a much smaller scale is actually quite commonplace right where you live, and the effects are most consequential on the least powerful in our society.
It is stunning that supporters of presidential candidate Hillary Clinton would stand up for General Electric CEO Jeff Immelt in the face of GE's record of tax avoidance.
Giant, mega-profitable companies like Pfizer engage in complicated, tricky schemes to dodge paying the taxes they owe. The Treasury Department caught up to Pfizer and others this week, issuing new rules that will help address the problem.
The disclosure of records from Panama's Mossack Fonesca offers a wider view into the world of shadowy shell companies used by the wealthy to hide wealth. Legislation awaits action in Congress that would help address this issue.
Johnson Controls wants to dodge U.S. taxes through a corporate inversion. What would have been the reaction if Congress knew this was coming in 2008 when the company was supporting a taxpayer bailout of the auto industry?
We the People of the United States, through our elected representatives in Congress, allow this. Or, to put it in today's reality: Billionaires and their corporations pay handsomely for a Congress that allows this.
Inversions, promoted by Wall Street banks that pocketed $1 billion in fees, are the newest gimmick in a long-term trend that has eroded America’s corporate tax base – brought to you by a bought-off Congress.
A new study measured job losses from Walmart’s offshoring at 400,000. That doesn’t measure the cost of low-wage employees on public assistance, or budget cuts forced on us by the resulting billionaires.
If Pfizer or any other American corporation wants to leave America to avoid U.S. taxes, that’s their business. But they should no longer get any of the benefits of American citizenship – because they’ve stopped paying for them.
Pfizer doesn't play pfair. The recent announcement that it would renounce its American identity and become an Irish company -- thereby dodging billions of dollars in taxes -- is the latest in a string of shady deals and sleazy behavior.
The resulting company will be located where it is located now. It will make and sell products in the same places it makes and sells them now. The same executives will occupy the same buildings. It will receive the services...
If there was ever an Elizabeth Warren speech to see, it is this one: The Massachusetts senator warns about what is happening with the coming corporate tax reform fight and why we should be paying attention.
It's time for a more balanced approach to budgeting. Let's look at just three reforms to our loophole-riddled tax code that could raise the money we need to avoid more painful service cuts.
How many times have we heard corporate-funded conservatives and "centrists" whine about "deficits" and demand budget cuts? What if you knew these corporations owed $620 billion in taxes?
A letter to Congress counters the argument that corporations are being harmed by the current corporate tax code and that the remedy is a change to a "territorial" tax regime.
The tax plan from Donald Trump is a big deal, but not nearly as big a deal as it would be for people in the top 1 percent, who would get a tax break averaging $184,000 a year under his plan.
The tax plan the Republican candidate has released this week shows he is as wedded to failed conservative economic orthodoxy as his relatives and the rest of the Republican political leadership.
A petition launched today says that if the online retailer "is really trying to be 'mindful, transparent, and humane,' it must pay its fair share of taxes at home."
Etsy is certified as a socially responsible retailer and markets itself that way, but that is belied by its use of an Irish subsidiary through which it can avoid paying taxes on its profits.
One of the proposals gaining traction in Congress for fixing what everyone agrees is a broken tax system is switching to a territorial tax for corporations. Here’s what you need to know about how it works.