taxes

Trump’s Trade War With China Is Waged to Make the Rich Richer

Trump’s Trade War With China Is Waged to Make the Rich Richer

May 23, 2019

By Dean Baker / CEPR. Donald Trump seems determined to double down and keep pressing forward on his trade war with China. He promises more and higher tariffs, apparently not realizing that U.S. consumers are the ones paying these taxes — not China’s government or corporations. While tariffs clearly impose a cost on people in…

Republican Estate Tax Repeal: An Effort to Avoid Ever Being Taxed

Republican Estate Tax Repeal: An Effort to Avoid Ever Being Taxed

February 1, 2019

While Sen. Bernie Sanders proposes an important increase in the estate tax, Republicans are gearing for its complete repeal. Morris Pearl of the group Patriotic Millionaires, talks about how the Republicans’ plan would help the rich from ever being taxed

Even for Local Taxes, the Rich Pay Far less Than the Poor

Even for Local Taxes, the Rich Pay Far less Than the Poor

November 13, 2018

While much attention has been paid to Republican-backed tax cuts for the wealthiest, a new report reveals that even local levies take a greater share of income from the poor than the rich

Blue Wave or Red Wave? No Way to Tell

November 6, 2018

By Barbara Koeppel / Truthdig. Based on a 1,500-mile interviewing trek that I took outside the Beltway for 12 days two weeks ago—to Pittsburgh, Indianapolis, Rock Island, Ill., Toledo and Akron, Ohio, and several points in between—one thing seems certain: Don’t hold your breath on election eve for crossovers. On a single issue, Democrat and…

How  Local Taxes Fuel America's Income Inequality Machine

How  Local Taxes Fuel America’s Income Inequality Machine

October 29, 2018

A new report shows that the poorest Americans pay a much larger proportion of their income in state and local taxes than the the wealthy

Weak Underfunded IRS Behind Trump's Wealth and History of Avoiding Taxes

Weak Underfunded IRS Behind Trump’s Wealth and History of Avoiding Taxes

October 4, 2018

Investigative tax attorney James Henry talks about the New York Times’ investigation into the origins of Trump’s wealth, how it is related to tax evasion, and how the US tax system has systematically and increasingly favored the rich    

Seattle Buckles Under Corporate Pressure, Repeals ‘Amazon Tax’ to Fight Homelessness

June 14, 2018

Socialist City Councilwoman Kshama Sawant says that as long as corporate Democrats run government, we should expect them to buckle under Amazon’s and Starbucks’ pressure

Economic Update: Employees VS Employers

Economic Update: Employees VS Employers

April 30, 2018

This week: German workers who elect almost half of corporate boards of directors; major US corporations with negative tax rates; Kentucky governor maneuvers against black-lung victims; involuntary part-time employment; epidemic of U.S. evictions; Trump’s tariffs on China

Economic Benefits of Tax Cuts Should Have Arrived – Where Are They?

March 15, 2018

Businesses have had plenty of time to take Trump’s corporate tax cuts into account for their investment plans. However, as CEPR’s Dean Baker reports, this has not happened. Instead, they spent their tax windfall on stock buybacks

Finding a SALT Tax Deduction Workaround

February 16, 2018

Trump’s tax reform limits the State and Local Tax (SALT) deduction to $10,000, disproportionately affecting high-tax states with progressive policies. These states can avoid the problem, though, by shifting to payroll taxes instead of income taxes. CEPR’s Dean Baker explains