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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A new Economist/YouGov poll published this week indicates that a majority of Americans are supportive of higher taxes on the rich, and believe that the federal government has an obligation to address wealth inequality. Asked whether they think billionaires in the U.S. are taxed either too much or too little, 61 percent said billionaires’ tax rates were either “somewhat too low” or “much too…
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California Gov. Gavin Newsom, considered by some to be the frontrunner to be the next Democratic presidential nominee, said during a panel on Wednesday that he wants his party to be a “big tent” that welcomes large numbers of people into the fold. But he’s “adamantly against” one of the most popular proposals Democrats have to offer: a wealth tax. In October…
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