Biden says that if he is re-elected, he would let the #TrumpTaxCuts expire next year for people who earn over $400k. Trump & #Republicans say they want to extend them.
The #Biden admin plans to stop #businesses & #wealthy individuals from manipulating the value of #assets in arcane ways such as using the same assets over & over again to lower their taxes. (#Trump)
High-end business partnerships like hedge funds & wealthy individuals such as real estate investors have inappropriately used labyrinthine structures to shield tens of billions of dollars from taxation, #Treasury Dept ofcls said Mon.
"After that conversation at the bar, Frerick realised that what was happening in the pork industry — this huge consolidation of power and wealth — was happening throughout the US food system.
When he started investigating, he found that a handful of US families controlled most of the US's food production and distribution system, including meat, dairy, grains, fruit and groceries."
#Trump May Owe $100 Million From #DoubleDip Tax Breaks, Audit Shows
A previously unknown focus of an #IRS audit is a dubious accounting maneuver that effectively meant taking the same write-offs twice on his #Chicago skyscraper.
…The outcome of #Trump’s dispute could set a precedent for #wealthy people seeking #tax benefits from the laws governing partnerships. Those #laws are notoriously complex, riddled with uncertainty & under constant assault by lawyers pushing boundaries for their clients. The #IRS has inadvertently further invited aggressive positions by rarely auditing partnership tax returns.
#POTUS Biden will champion a new Microsoft #Artificial Intelligence investment in #Wisconsin on Wedn — showcasing the failed #economic commitments of his political rival Trump, whose promises for a #job-rich Foxconn plant in the battleground state never materialized.
Wielding a golden shovel, #Trump touted the #Foxconn flat-panel display factory as evidence of a broad #manufacturing revival stirred by his 2017 TaxCut which rewarded the [#wealthy & #corporations] & #tariffs on imported steel. “You know, 18 months ago this was a field, & now it’s one of the most advanced places of any kind you’ll see anywhere in the world. It’s incredible,” Trump crowed.
@rbreich
🥥 We are conditioned to associate wealth with some combination of unusual skills possessed exclusively by the wealthy.
Based on a random sample of highly wealthy tech bros, Eye submit the hypothesis that these skills are in fact mainly sociopathy, greed, lack of empathy, and absence of scruples.
Convince me that Eye'm wrong. 🥥 #Wealth, #Wealthy, #Billionaires, #Musk, #Zuckerberg, #Gates, #Apple, #Google, #AI, #EatTheRich, #TuckersBalls
#POTUS Biden on Mon called for major new spending initiatives to lower costs for #healthcare, #ChildCare & #housing & enough new taxes on the wealthy & major corporations to pay for those proposals & also shave $3 trillion off the #NationalDebt over the next decade.