Financial experts are pushing back against the Biden administration's proposal to include a provision in the $3.5 trillion spending bill to extend the IRS' reach to have bank transactions over $600 reported. The Democrats’ goal is to garner $463 billion in additional personal income tax over the next decade.
No less than 136 countries have reached a deal that would set a global minimum corporate tax rate of 15 percent. The Organization for Economic Cooperation and Development (OECD) announced the agreement on Friday.
Democrats want working-class families in red states like Florida and Texas to subsidize residents making $200,000, $400,000, or more in places like New York and New Jersey.
A new report alleges a seemingly hypocritical accusation against the designer of the dress Rep. Alexandria Ocasio-Cortez (D-N.Y.) wore to the swanky Met Gala. The designer, Aurora James, is a "notorious tax deadbeat with unpaid debts dogging her in multiple states," according to the New York Post.
The U.S. income tax system is “very progressive,” and it’s increasingly taking on the role of providing social benefits to households, according to the Tax Foundation.
