Truthout
Taxes
Elon Musk Brags About Owing Small Fraction of His $280B in Taxes
The bill was incurred by transactions made over the past months in which he’s sold about $16 billion in stock so far.
Billionaire Used Massive Oil Spill to Avoid Paying Income Tax for 14 Years
Phyllis Taylor’s company is responsible for the longest-running oil spill in U.S. history.
US Tax Code Is Complicit in Helping Real Estate and Oil Tycoons Game the System
Trump and other ultrarich Americans have earned billions while managing to repeatedly avoid paying federal income tax.
Republicans Who Backed Trump Tax Cuts Now Accuse Dems of Slashing Taxes for Rich
New Republican ads attack Democrats on Build Back Better — which will actually raise taxes on wealthiest Americans.
We Could Vaccinate the World 3 Times Over If the Rich Paid the Taxes They Owe
The total $483 billion in tax revenue lost each year is only “the tip of the iceberg,” says one data scientist.
Most Millionaires Get Average Tax Cut of $16K a Year With SALT Cap Increase
An analysis finds that middle-class families would only get $20 for 2021 under the tax proposal.
Sanders Slams Democrats’ Tax Break for the Wealthy as “Beyond Unacceptable”
The SALT cap repeal is a gift to the richest 1 percent and would be the costliest proposal in the reconciliation bill.
Ocasio-Cortez Backs Social Security Expansion, Says the Wealthy Need to Chip In
SSI payments cap at $142,800 in wages, allowing the rich to pay only a small portion of their wages to the program.
Elon Musk Opposes Billionaire Tax While Making a Record $36 Billion in One Day
Musk’s net worth of over $288 billion is over 1 percent of the U.S. GDP of $22.7 trillion.
Warren Introduces Bill to Levy 15 Percent Minimum Tax on Corporate Profits
The tax would be levied on profits that corporations report to shareholders with the aim of capturing a truer tax rate.