WASHINGTON – The Biden administration is planning to fund most of a massive investment in U.S. infrastructure and jobs by raising tax rates on the wealthy and on businesses. But a new study shows that wealthy individuals are already holding back about $175 billion in taxes every year through complex tax evasion schemes. Further, experts […]
“We estimate that 36% of federal income taxes unpaid are owed by the top 1%.” A new analysis by IRS researchers and academics published Monday morning estimates that the richest 1% of U.S. households don’t report around 21% of their income, often using complex tax avoidance strategies that allow them to outmaneuver the federal government’s increasingly rare audits of […]
“Anyone who thinks that the only lesson to be learned was the need to improve what we were already doing, or to refine existing systems and regulations, is denying reality.” Vatican News/YouTube In his third encyclical Sunday morning, Pope Francis denounced free market capitalism and the “magic” theory of trickle-down economics, saying the coronavirus […]
“The moral of the story is, he lied to you for months and encouraged you to live recklessly during a pandemic, and when it got to him he received every top tier treatment and medication to ensure his survival while your friends and family died alone.” The case for Medicare for All was once again made by the consequences […]