The IRS has collected $1.3 billion in overdue taxes from wealthy Americans since receiving new enforcement funding from the Inflation Reduction Act.
Increased IRS funding is a good thing.
It means the agency can finally go after the real freeloaders in America: the super-rich.
Your regular reminder that if not for the Trump and Bush tax cuts, federal revenues would keep pace with federal spending indefinitely.
Instead, these tax cuts have added $10 trillion to the debt.
The so called "party of fiscal responsibility" is full of it.
Corporations say they were forced to raise prices.
But profits increased at a faster rate than costs — and hit a record high in 2023.
News flash: Corporations are using inflation as cover to get rich.
Corporations say they were forced to raise prices.
But profits increased at a faster rate than costs — and hit a record high in 2023.
News flash: Corporations are using inflation as cover to get rich.
Ever notice how forgiving loans is suddenly a big problem when students get much-needed relief, but nobody blinks an eye when billionaires get their PPP loans forgiven? Or when corporations are handed billions in subsidies?
Corporate profits have now reached record highs, yet the price hikes won’t stop.
Why?
Well, in 75% of US industries, fewer companies control more of the business compared to twenty years ago.
Minimal competition means maximized price-gouging.
Trump's team weirdly keeps asking: "Are you better off than you were four years ago?"
March 2024: 303,000 new jobs added
March 2020: 701,000 jobs lost
Remember, Trump's mishandling of the pandemic made both the number of lives lost and the economic toll far worse.
Billionaires who condemned Trump are now flocking to his campaign.
It’s obvious why.
Biden wants a 25% tax on billionaires.
Trump wants to double down on tax cuts for the rich.
All they care about is lining their own pockets no matter the cost to everyone else.
Your April Fools' Day Reminder that trickle-down economics is the greatest trick of all. It's nothing more than a cruel hoax designed to enrich corporations and the super-rich at your expense. Don't fall for it.
The wealth of the 1% hit a record $44 trillion at the end of last year.
This small group of wealthy individuals now holds 30% of the nation’s wealth.
Don't tell me that they can't afford a wealth tax.
Between 1978 and 2022:
-Worker pay grew by 15%
-Top exec pay jumped by 1,209%
Major US CEOs are now paid 344 times more than their typical employees.
When I say corporate CEOs are exploiting labor, this is what I mean.
Between 1998 - 2020, the Department of Justice didn’t file a single monopolization claim against anyone.
Since then, enforcers have filed major antitrust suits against Facebook, Amazon, Google, and now Apple.
Antitrust is back in a very big way — and that's a good thing.
4 years ago today, Trump admitted that more than 200,000 Americans were likely to die from Covid — just weeks after promising it would "go away" on its own.
That same day, he bragged about the high TV "ratings" of his pandemic briefings.
It's only ever been about his ego.