How high-end credit card perks are hurting shoppers who pay in cash
A Harvard study estimates that people who pay with cash and debit cards are subsidizing $30 billion a year in points and rewards for credit card users.
https://t.co/vqBYh2cRTU
NEW: A slew of well-known journalists, including Dan Rather, Lowell Bergman and Alex Gibney, have released a letter to David Ellison asking him to affirm his commitment to editorial independence at “60 Minutes.”
I signed this. We are watching media capture take hold before our eyes and we are the only ones who can at least try to stop it before our independent press is significantly hollowed out.
Kash Patel Fires Senior Analyst in Revenge for Decade-Old Report. — The initial report on a shooting at a 2017 congressional baseball game angered Republicans lawmakers.
https://t.co/TLB4TSufHG
WAIT WHAT??
“Paramount/CBS isn't trying to silence Colbert's "Only in Monroe" -- the company actually funded the production of his episode, which included music by Jack White and a guest spot by Jeff Daniels. (that's why "The Late Show" owns the copyright
https://t.co/ss0JEJt5XE
Yo... Los Angeles...
Brett Ratner is a major donor and supporter of Spencer Pratt for mayor. Here's Brett Ratner with Epstein and Jean Luc Brunel on Epstein island.
Vote wisely.
He’s right bc we tax income, not wealth.
Bezos takes out a tiny salary, pays the income tax, and lives off loans borrowed against his stocks, basically tax free. They all do this and now 935 billionaires hold more wealth than 170 million Americans.
It’s time to tax wealth.
A tobacco company didn’t like regulations…
So they donated $5M to Trump…
And those regulations were removed a week later.
This is a bribe — and yet Super PACs remain legal because the people writing the laws are taking the bribes.
End Citizens United
https://t.co/NeTodkQ9GN
Wow, Trump has publicly said that the last time he hung out with Jeffrey Esptein was 2002 (Google it). Then he said he reported him to the police in July of 2006. So why does this email from the Epstein files show Trump was hanging out with Jeffrey Epstein in December of 2016???
Dear @DAGToddBlanche
Since 1977, the IRS has had an internal policy (in the Internal Revenue Manual) requiring MANDATORY examinations/audits of the individual income tax returns of sitting U.S. Presidents and Vice-Presidents.
The purpose of these examinations/audits were to:
- Promote consistent tax compliance.
- Avoid politically motivated decisions about whether to audit the president (who oversees the executive branch, including the IRS).
- Build public confidence that the president pays taxes properly.
- Demonstrate the interest of a sound administration. That is, to avoid any appearances of impropriety.
Thanks to a House Ways and Means Committee investigation, we know that @realDonaldTrump is the ONLY "president" since this policy was implemented 49 years ago that has NEVER completed an examination/audit.
And YOU, just gave Trump the freedom to avoid this decades long IRS policy. CORRUPTION is all this regime knows.
👇👇👇👇
“They” didn’t leak Trump’s tax returns. An IRS contractor did - along with thousands of other tax returns - during Trump’s first term.
Biden’s DOJ prosecuted the contractor, who got the max: 5 years in prison.
This is shameful spin from SDNY U.S. Attorney Jay Clayton.
It is high time we fix this anomaly.
I have made a simple proposal in this book, which is coming out today in the UK and this summer in the US.
I look forward to your reactions.
And things are getting worse:
The effective tax rate of billionaires has fallen sharply after the Tax Cuts and Jobs Act of 2018.
In a context where billionaire wealth is booming, this deprives governments of very significant amounts of revenues.
More broadly, if one looks at the 400 wealthiest Americans, our research shows the billionaires tend to have low individual income tax rates.
Why?
Simply put, the ultra-wealthy can easily structure their wealth so that this wealth generates little – sometimes even no – taxable income. Hence little or no income tax owed.
https://t.co/l5oGMTLBEM
Your personal case is a good illustration of the problem with the US tax system.
Based on public data it is possible to estimate your total effective tax rate: the total amount of tax you pay personally plus indirectly through Amazon, relative to your income.
Your total effective tax rate was just 15% in 2018.
Meanwhile, the average person in the US pays around 30% of their income in taxes.
https://t.co/Wfj2a16U2A