On June 1, the Illinois legislature passed a tax on the digital advertising revenue of tech companies like Meta, Amazon, and Alphabet (parent company of Google). Big Tech resisted the measure and will likely challenge it in court. Nevertheless, several analyses show the tax may generate $800 million annually, a number that could increase with time as revenues from digital advertising are expected…
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Campaigners behind the one-time 5% billionaires wealth tax in California are calling out what they describe as trickery and deception by Democratic Gov. Gavin Newsom, who on Friday released a proposal for a national billionaire’s income tax even as he actively opposes the effort to tax the wealth of billionaires in the state that he and his party currently control. “Newsom does not want to…
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A new analysis released Thursday estimates that the average American taxpayer shelled out over $4,000 to the federal government last year “for militarism and its support systems” such as the Pentagon, whose already-massive annual budget is poised to surge to $1.5 trillion if President Donald Trump gets his way. The National Priorities Project (NPP) at the Institute for Policy Studies found in…
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If President Donald Trump is successful in his lawsuit to sue the Internal Revenue Service (IRS) for $10 billion over the leak of his tax returns, U.S. taxpayers will be footing the bill, Treasury Secretary Scott Bessent confirmed on Thursday. In a hearing by the Senate Banking Committee, Sen. Ruben Gallego (D-Arizona) asked, “let’s say, for some reason, he actually wins that lawsuit…
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President Donald Trump has sued the US Treasury Department and Internal Revenue Service for $10 billion over the leak of his tax returns during his first term in the White House, when the president broke with decades of tradition by refusing to voluntarily divulge the records. The lawsuit — joined by Trump’s two eldest sons and his family business, the Trump Organization — was revealed…
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The holiday season is here, a time when countless immigrants in the United States are sending a little extra money back home to their families. But now, many are bracing for a new financial hurdle: effective January 1, 2026, a federal 1% remittance tax will go into effect, adding a new cost to the cash, checks, and money orders that millions of immigrants rely on to support loved ones abroad.
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