The US ultra-rich justify their low tax rates with three myths: Robert Reich
On Tuesday, the Congressional Budget Office released a study of trends in the distribution of family wealth between 1989 and...
Category: Inequality
Analysis explains how Trump manages to pay fewer taxes than Americans with a household income of $20K
Former President Donald Trump manages to pay a substantially low amount in taxes each year despite his ultra-wealthy status. Now,...
Biden’s 2023 Budget Includes a 20 Percent Billionaire Minimum Income Tax
On Monday, the White House unveiled President Joe Biden’s 2023 budget proposal, which includes a minimum tax on the nation’s...
A new report reveals a century-old American aristocracy
The United States was founded on the idea of freedom by right, not freedom by bloodline. But that has not...
Sinema targeted over ‘morally unforgivable’ tax loophole for the rich
A group of wealthy investors and business leaders who support progressive taxation launched a campaign Tuesday aimed at pushing Sen....
As Americans Demand Tax Reforms, Analysis Finds Top 1% Hold More Wealth Than Whole Middle Class
As the bombshell Pandora Papers continue to expose dubious details about how the world’s superrich hide their fortunes and avoid...
CEO Pay Rose 1,322 Percent Over 42 Years, While Worker Pay Rose Only 18 Percent
A new analysis released Tuesday by the Economic Policy Institute finds that CEO pay in the United States rose by...
The Trump Org indictment conceals the bigger story of how the rich don’t pay taxes
After many months of anticipation and nearly three years of investigation, the Manhattan district attorney’s office has charged the Trump...
Democrats’ child tax credit payments will hit bank accounts soon
Back in March, when Democrats were still working to pass President Joe Biden’s $1.9 trillion pandemic relief plan into law,...
Abigail Disney: Executives would rather be shot than fly first class
Abigail Disney has a lot to criticize about American billionaires — especially when they inherit a pile of cash and...
How Congress and you subsidize the richest Americans
ProPublica scored a fantastic scoop when it obtained and meticulously analyzed 15 years of raw income tax data on the...
Joe Biden’s plans would target the ultra-wealthy for more tax dollars — and they’re getting nervous
President Joe Biden has been highly critical of the corporate tax cuts of the Trump era, complaining that the Tax...
Biden Order Will Raise Minimum Wage for Federal Contract Workers to $15 an Hour
President Joe Biden on Tuesday plans to sign an executive order raising the minimum wage for workers under federal contracts...
Wealth Gained by Billionaires Amid COVID Could Pay for Two-Thirds of Relief Bill
America’s billionaires have made so much money they could fund two-thirds of President Biden’s American Rescue Plan (ARP) with just...
Warren To Immediately Introduce Wealth Tax Bill
Nearly one year after suspending a presidential campaign that she built on the idea of a national wealth tax, Sen....
After Billionaires Gained $1 Trillion in Wealth, Says Sanders, It Is Not ‘Radical’ to Demand More $1,200 Stimulus Checks
Sen. Bernie Sanders on Friday took to the Senate floor to once again make the case for sending another round...
Poll: Two-Thirds of Americans Favor Raising Taxes on Incomes Over $400K
A compelling majority of Americans favor raising taxes on people who make more than $400,000 per year, according to a...
McConnell Pushes for ‘3-Martini Lunch’ Deduction and Zero Relief for 26 Million Hungry Americans
Sen. Bernie Sanders on Wednesday blasted Senate Majority Leader Mitch McConnell for pushing a coronavirus relief measure that contains a...
Trump Administration Finalizing Last-Minute Safety Net Cuts
The American people have voted to kick President Donald Trump out of the White House, but in its waning weeks,...
Low-income Mississippi county is a favorite IRS target — and residents pay more than Trump in taxes
When the late New York City real estate magnate Leona Helmsley infamously said “only the little people pay taxes,” she spoke the...
Billionaire wealth rises to more than $10 trillion for first time ever amid pandemic
Billionaire wealth increased to $10.2 trillion through the end of July, setting a new record amid the coronavirus pandemic even...
Studies Show 8 Million Forced Into Poverty Since McConnell Let Relief Expire
The authors of two separate poverty studies out of three top universities said Thursday that their findings make the unmistakable...
Our Tax Code Is Designed To Create Donald Trump
In 2011, The New York Times published what was, at the time, the most shocking expose on tax policy in...
Taxpayers looking at their monthly bills have a lot of thoughts about Trump’s $750 tax bill
The $750 in federal income taxes that Donald Trump paid in 2016 and 2017 is an attention-grabbing number—in large part...
Millions of Children Go Hungry as Mitch McConnell Blocks Stimulus Bill
Millions of children across the United States are already going hungry amid the economic recession spurred by the COVID-19 pandemic,...
Minivans at the Food Pantry: Meet America’s New Needy
LAKESIDE, Calif. — This is America: a family crammed in a minivan driving mile after mile across San Diego County,...
Paul Krugman: Stocks are soaring. So is misery.
On Tuesday, the S&P 500 stock index hit a record high. The next day, Apple became the first U.S. company...
‘I don’t trust him’: How Trump abandoned workers when they needed him the most
Kenny Overstreet scrounges every penny—and even sells the eggs his chickens lay—to make ends meet after Packaging Corporation of America...
‘A Homeless Pandemic’ Looms As 30 Million Are At Risk Of Eviction
Cruz Santos thought her life was finally turning around in early March when she found a job at a shoe...
GOP COVID Relief Plan Includes Romney Bill to Slash Social Security and Medicare
Shortly after publicly ditching one attack on Social Security — the payroll tax cut — Senate Majority Leader Mitch McConnell confirmed Thursday...
US billionaires have regained $565 billion in wealth since the pit of the crisis
The past three months have been financially painful for many Americans — but not for billionaires.US billionaires have become $565 billion richer...
Billionaires’ Net Worth Rises During Pandemic As Millions Go Unemployed
U.S. billionaires’ wealth grew substantially over the last two months even as tens of millions of Americans lost their jobs,...
Big Oil Takes $1.9 Billion in Tax Breaks Intended for Small Businesses
Sen. Bernie Sanders was among critics outraged that the fossil fuel industry is using tax breaks in the CARES Act...
How the Republicans are stealing everything for the 1 percent
Enjoy your $1,200 one-time consolation prize for losing your livelihood, your way of life, and your economic security in this...
Right-Wing Austerity Set New Orleans Up to Be a Coronavirus Disaster
New Orleans — Back in 1997, when Steve Scalise was a Louisiana state representative, he joined other right-wing lawmakers in...
Rand Paul’s Office Won’t Say How He Got Coronavirus Tested Before Sick People
Sen. Rand Paul’s office has refused to say how the Senator from Kentucky was able to get tested for coronavirus...
Slices of Real Pie Show the Huge Wealth Gap in the U.S.
A four minute video that aired on CBS Friday morning was praised for using slices of real pie to show the huge...
Inequality in the Trump economy just keeps getting worse
Every month when the Bureau of Labor Statistics releases its monthly jobs report, Donald Trump and Republicans crow about the...
New data shows income of top 1 percent has grown 100 times faster than bottom 50 percent since 1970
New data released Monday explains the numbers behind Sen. Bernie Sanders’ often-cited statistic that the three richest Americans hold more...
Trump Takes Food Away From 755,000 Americans Before Christmas
The Trump administration has finalized a rule change to the SNAP program that will take away food from 755,000 Americans...
Warren Suggests Corporate Media Ask Working People, Not Just the Very Rich, About Her Wealth Tax
Sen. Elizabeth Warren on Wednesday evening called out the news media for focusing their coverage of her proposed Ultra-Millionaires Tax largely...
Robert Reich: Billionaires fear Warren and Sanders – but they should fear us all
Billionaires are wailing that wealth tax proposals by Elizabeth Warren and Bernie Sanders are attacks on free-market capitalism. Warren “vilifies...
Democrats Take Aim at ‘Trust Fund Babies’ With Estate Tax Designed to Combat Wealth Inequality
California Congressman Jimmy Gomez on Friday introduced legislation in the Democrat-controlled U.S. House that aims to address “our country’s rapidly...
Trump Responds To Impeachment By Trying To Take Away Free School Meals From A Million Kids
The Trump administration is trying to change eligibility requirements so that 1 million kids would lose access to free school...
America’s richest 400 families now pay a lower tax rate than the middle class
The U.S. tax system is supposed to be progressive, meaning that wealthier households pay a larger share of their income...
