Trump made history: introducing tax cuts made him LESS popular

Politicians love introducing tax-cuts, because they're reliable vote-getters, even if they're structured to blow up later by giving massive breaks to the super-rich and more modest breaks to middle-class voters, resulting in mounting deficits and eventual service cuts. Read the rest

Amazon's 2018 profits: $11.2 billion; Amazon's 2018 IRS bill: negative $129 million

Amazon doubled its profits in 2018, to $11.2 billion; the company will receive a $129 million tax rebate for the year. Read the rest

Limits to trickle-down: Trump's tax-cut "boom" fizzles

Trump's multi-trillion-dollar giveaway to the richest Americans and largest US corporations led to a rise in GDP, but it was a short-lived sugar-high: the major effect was a trillion dollars in stock buybacks that padded the bottom lines of super-rich investors who barely touch the real economy (you can only own so many super-yachts and operating costs are funneled through offshore flags-of-convenience anyway). Read the rest

Ajit Pai killed Net Neutrality and Trump gave away a huge tax break; Verizon got billions and killed 10,000 jobs

When Trump's FCC Chairman Ajit Pai killed Net Neutrality (by illegally ignoring legitimate comments in support of it in favor of millions of anti-Net Neutrality comments sent by identity-stealing bots), he promised that it would spur growth in the telcoms sector -- and of course, he should know, because he used to be a Verizon exec. Verizon agreed: they objected to Obama-era Neutrality orders by saying the measures would "severely curtail job growth." Read the rest

US tax shortfalls have our public schools begging for donations

Between Trump's massive tax-breaks for the super-rich and rules like California's disastrous Prop 13, our cities perennially cash-starved and have led to the erosion of the same public services that make cities attractive to businesses (for example, the subway, public education, roads, grid and other public services that made NYC so attractive to tax-dodging Amazon for its second headquarters). Read the rest

Apple's world-beating financial engineering is teaching the corporate world how to exploit Trump's tax cuts

After Trump's tax-cuts and forgiveness program, Apple repatriated $260 billion it had stashed in offshore tax havens (or, more truthfully, had funneled through offshore tax-havens to buy onshore financial products that were notionally held offshore); this made Apple the leading beneficiary of the Trump tax forgiveness program. Read the rest

Disney heiress condemns Trump for lowering her taxes: vote out the Republicans on Nov 6!

Abigail Disney is Walt Disney's grand-niece; she is an activist and documentarian and being the grand-daughter of Roy Disney, she is rich as hell. Read the rest

CEO-to-worker wage gap yawns ever wider, hitting 312:1 in 2017, up by 17.6%

The CEO:worker wage ratio was stable in 2015/6, but some unnameable policy or policies, which we can only guess at, were at work in 2017, boosting the gap by 17.6% to 312:1. Read the rest

Trump wants to hand a $100,000,000,000 tax cut to the super-rich, without Congressional approval

Trump finance secretary/supervillain Steve Mnuchin says he wants to unilaterally allow Americans to factor in inflation when calculating capital gains; the move would cost the US government $100 billion and 97% of that would go to the top 10% of US earners (66% would go to the 0.1% of US earners). Read the rest

Republicans were so eager to pass the #TaxScam that they didn't notice they were taxing the churches they depend on

In the rush to vote through Trump's trillion-dollar-plus tax gift to the super-wealthy, Congressional Republicans voted on unfinished drafts full of notes, erasures, and incoherencies, with no one really sure what they were casting a vote in favor of. Read the rest

Amid wage stagnation, corporate leaders declare the end of annual raises triggered by increased profitability

It was once the standard that firms that performed well would give all their employees an annual raise, in part to acknowledge workers' contribution to the business's fortunes, in part to ensure that wages kept pace with inflation (otherwise workers would be suffering a real-terms pay-cut every year). Read the rest

Trump's sweetheart tax deal for economically useless financial engineering triggers a stock buyback bonanza

Stock buybacks are a form of economically useless, business-starving financial engineering that makes rich people much, much richer. Read the rest

Caped one-percenters: how superheros make out like bandits under the Trump tax-plan

Tax lawyer Jed Bodger has publised an analysis in the journal Tax Notes detailing the expected gains for superheroes under the Trump tax plan. Read the rest

Gary Cohn served Donald Trump for 14 months, and made billions for his old bosses at Goldman Sachs

When Donald Trump announced that he would "drain the swamp" by filling his cabinet with lobbyists, billionaires, and political operators, we all braced for an onslaught of rules that benefited the fattest of cats at the expense of everyone else, but Gary Cohn outdid himself. Read the rest

Even though Trump supporters are impervious to fact-checks on most subjects, they still know that the GOP tax plan is a giveaway to the super-rich

Shortly after the election of Donald Trump, Russian exile Masha Gessen's essay Autocracy: Rules for Survival swept the internet, offering both hope and caution for the years to come. Read the rest

The GOP tax plan will pay millionaires to subsidize failing religious schools

Until the GOP tax plan came along, rich people who donated to religious schools only get partial tax write-offs for their gifts, because the constitutional principle of separation of church and state obliged them to use special scholarship funds that were not under direct state control. Read the rest

The GOP tax plan was supposed to gouge high tax blue states with massive hikes, but it'll probably end up making them richer

The Republican tax plan -- more than a 1,000 pages covered in last-minute scribbled annotations and pastebombs, passed without any substantial debate or analysis -- is a fucking mess. Read the rest

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