‘Bad Politics, Bad Policy’: Sanders Slams House Democrats for Including Tax Cut for Rich in BBB

“The bottom line here is we have to help the middle class, not the 1%,” said the senator. Sen. Bernie Sanders warned late Thursday that a tax deduction that will disproportionately benefit wealthy Americans and that Democratic House leaders insisted on keeping in the Build Back Better Act will harm the party in upcoming elections,Continue reading “‘Bad Politics, Bad Policy’: Sanders Slams House Democrats for Including Tax Cut for Rich in BBB”

DonorsTrust Gives $600k Donation to White Nationalist Hate Group

For the second year in a row, the right wing’s favorite dark money donation vehicle has given an unprecedented sum to a notorious white nationalist hate group. New tax records obtained by the Center for Media and Democracy (CMD) reveal that nonprofit charity DonorsTrust bankrolled the New Century Foundation—an alias for American Renaissance, a white nationalist organizationContinue reading “DonorsTrust Gives $600k Donation to White Nationalist Hate Group”

Nebraska GOP Rep. Jeff Fortenberry charged with lying to feds hours after he denied crime in YouTube video

A federal grand jury indicted Nebraska Republican Rep. Jeff Fortenberry on charges of lying to federal investigators and another crime in connection with a probe about illegal campaign donations provided by a foreigner, prosecutors said. The announcement of the indictment in Los Angeles federal court came hours after Fortenberry, in an unusual YouTube video featuringContinue reading “Nebraska GOP Rep. Jeff Fortenberry charged with lying to feds hours after he denied crime in YouTube video”

Czech prime minister’s party narrowly loses re-election days after Pandora Papers revelations in surprise outcome

Scandal-clouded billionaire Andrej Babis now faces probes over secret luxury property deals exposed in ICIJ’s global investigation based on the biggest ever offshore data leak. In a shock result, billionaire Andrej Babis’ party has narrowly lost the Czech Republic’s parliamentary election days after the populist leader had to contend with revelations from the Pandora Papers,Continue reading “Czech prime minister’s party narrowly loses re-election days after Pandora Papers revelations in surprise outcome”

As Americans Demand Tax Reforms, Analysis Finds Top 1% Hold More Wealth Than Whole Middle Class

By comparison, in 1990 the top 1% held just 17% of the nation’s wealth—less than half of the middle class’ 36%. As the bombshell Pandora Papers continue to expose dubious details about how the world’s superrich hide their fortunes and avoid paying their fair share of taxes, Bloomberg on Friday published an analysis of U.S. Federal Reserve data revealing that Americans inContinue reading “As Americans Demand Tax Reforms, Analysis Finds Top 1% Hold More Wealth Than Whole Middle Class”

Texas has raised $54 million in private donations for its border wall plan. Almost all of it came from this one billionaire.

Timothy Mellon is the Wyoming-based grandson of banking tycoon Andrew Mellon. He is responsible for nearly 98% of the donations to Texas’ border wall fund. An out-of-state billionaire who has previously bankrolled attempts to defend controversial immigration laws is responsible for nearly all the donations to Gov. Greg Abbott’s $54 million border wall fund. A member of oneContinue reading “Texas has raised $54 million in private donations for its border wall plan. Almost all of it came from this one billionaire.”

America’s billionaires pay an average income tax rate of just 8.2%, Biden administration says

The wealthiest 400 families in the United States are paying an average income tax rate of just 8.2%, according to a new analysis from the Biden administration. President Joe Biden and Democrats are pushing to raise taxes on the richest Americans as they look for ways to pay for their ambitious agenda, making its way through CongressContinue reading “America’s billionaires pay an average income tax rate of just 8.2%, Biden administration says”

The number of billionaires grew by 13.4% in 2020 – making the pandemic a ‘windfall to billionaire wealth’

A new report from research firm Wealth-X found that the number of global billionaires rose above 3,000 in 2020. It’s a first, per the report, with billionaires around the world increasing their collective wealth by 5.7%. Wealth taxes have been floated as one way to redistribute wealth and address pandemic inequity. The pandemic was aContinue reading “The number of billionaires grew by 13.4% in 2020 – making the pandemic a ‘windfall to billionaire wealth’”

Create your website with WordPress.com
Get started