Gary Cohn, the director of the National Economic Council was just on CNBC talking about the necessity of repealing the estate tax. Mr. Cohn said: Well, look, we want that farmer to go out and buy the next piece of land, and the next piece of land, and the next piece of land, and create the economies of scale and be able to compete in … Continue reading Pearls of Wisdom: Does Gary Cohn Even Understand the Estate Tax
Make no mistake, the trillion-dollar tax cuts for the wealthy proposed by Trump and his friends in Congress will create deficit dollars. Sooner of later those deficit dollars will be repaid by cutting “entitlements”, i.e. taking from working families and the poor.
I don’t need a tax break for my estate tax, and my kids don’t deserve to be pawns (or kings) in the divisive game already played by the super-rich.
The GOP tax plan is a huge gamble that, if unsuccessful, would all but bankrupt the US.
I make a lot more money each year than I need to live on, but this city, state, and especially this country need a lot more money to build our infrastructure and help our fellow citizens.
We may not be able to fix or eliminate inequality through our tax code, but let’s not make it worse.
To all my fellow American entrepreneurs, businesses owners, and investors who have been blessed to be in the upper end of the income and wealth spectrum: America needs a lot of things before we need another tax cut.
When we discuss economics there are, very broadly, two types of people: First, there are regular people. They mostly need to work, and a lot of them try to save enough so that they can retire someday. Some of them succeed, but increasingly, many do not. Being a regular person means spending most of your income. Some live very well, and some live very poorly. … Continue reading My Tax Philosophy
This cynical Republican tax plan is nothing less than a scheme to transfer public wealth into private hands.
The President’s plan to repeal the estate tax isn’t just bad tax policy, it’s un-American.
Yesterday evening, Monday August 21, Treasury Secretary Steve Mnuchin made a statement that effectively reversed Donald Trump’s campaign promise to close the carried interest loophole.
You can neither cut your way to prosperity nor grow your way out of inequality.
I’m an investor, researcher, and the great-grandson of the meatpacker Oscar Mayer. I’m deeply concerned by the extreme inequalities of income, wealth and opportunity that have opened up in U.S. society.
Tuesday the Illinois State Senate took a bold step in fighting inequality by becoming the first state chamber in the country to vote in favor of closing the carried interest loophole.
The following letter was sent to the DC Council on May 18, 2017 by The Patriotic Millionaires, the DC Chapter of Resource Generation, and Andy Shallal, DC resident and owner of Busboys and Poets.
It is absurd to think that corporations, particularly large, multi-national corporations who pay millions in stockholder dividends and corporate bonuses, should pay a lower tax rate than most working Americans.
I am outraged. “45” spent his entire campaign claiming that he would stand up for everyday Americans, and yet his recent tax proposals are nothing more than thinly disguised handouts for the wealthy. Not the wealthy…the super wealthy!
Repealing the ACA tax under Trump’s tax plan will leave a healthcare deficit and is the first step towards ACA repeal, which the Congressional Budget Office reported would kick nearly 24 million Americans off health insurance over the next 10 years.
Under Trump’s proposal the corporate tax rate would be lowered to 15%, but without closing any of the loopholes that would allow this move to be revenue neutral.
The Trump administration proposal — to switch to a territorial system — would mean many large international corporations paying a lot less in taxes to the United States government.