Americans

Guest commentary California needs higher taxes on corporations and the wealthy

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President Biden proposed to reverse the 2017 Trump tax cuts for the wealthiest Americans by raising the corporate tax rate, denying tax breaks for corporations whose CEOs earn more than million in annual compensation, and requiring billionaires to pay at least 25 percent of their income in taxes. California faces a billion budget deficit and has a regressive tax system, with the lowest income earners paying the largest share of taxes. State and local governments can take action to ensure the ultra-wealthy and large corporations pay their fair share by ending tax breaks, increasing the corporate tax rate, and implementing a wealth tax on extreme wealth. Governor Newsom opposes the wealth tax, but public pressure is building with a majority of California voters supporting the idea.

US Senate votes to reauthorise surveillance programme

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US Senate votes to reauthorise surveillance programme

The US Senate approved the reauthorization of a controversial surveillance program, narrowly avoiding its midnight expiration.

Arms dealers wanted by the FBI are also based in Cyprus

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Arms dealers wanted by the FBI are also based in Cyprus

Two businessmen of Arab origin linked to illegal arms trafficking to states hostile to the West have been connected to Cyprus. The individuals, Samir Raja and Mohammad Deiry, are wanted by the FBI and have set up companies in Cyprus for their activities. They are believed to be involved in arms trafficking without licenses and money laundering. The companies involved, S. Group Airlines Ltd and Centuronic Ltd, were recently sanctioned by the US Treasury Department.

Biden floats tax hikes for all, says Trump cuts will ‘stay expired’ if re-elected — prompting WH walk-back

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Biden floats tax hikes for all, says Trump cuts will ‘stay expired’ if re-elected — prompting WH walk-back

President Biden vowed that former President Donald Trump’s 2017 tax cuts would lapse next year if he’s re-elected, resulting in higher taxes for middle-class and low-income Americans.

H&R Block’s Tax Day outage frustrates last-minute filers

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H&R Block’s Tax Day outage frustrates last-minute filers

H&R Block experienced technology outages on Monday, preventing some last-minute tax filers from sending in their returns.

The year 2025 is the ‘Super Bowl of tax,’ says Rep. Blake Moore. Will your taxes go up?

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The year 2025 is the 'Super Bowl of tax,' says Rep. Blake Moore. Will your taxes go up?

In 2020, Rep. Blake Moore visited Nucor, a steel and recycling manufacturing plant in northern Utah, where he learned about the positive impact of the Trump-era Tax Cuts and Jobs Act of 2017 on the business. The tax cuts led to real wage growth and reinvestment in the community, such as Nucor buying ambulances for the local community. Moore believes that low corporate taxes benefit everyone and is pushing to increase deductions for small businesses. He anticipates that significant changes in tax policy may occur in 2025, depending on the outcome of elections and government control.

Trump’s Unfounded ‘Colossal’ Tax Hike Warning – FactCheck.org

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Trump's Unfounded 'Colossal' Tax Hike Warning - FactCheck.org

Former President Donald Trump went on Truth Social on tax filing deadline day to warn that if President Joe Biden is reelected, there will be colossal tax hikes. However, Biden’s latest budget proposal supports extending tax cuts for individuals making less than 0,000.

How Burdensome Are Your State’s Nonresident Income Tax Filing Laws?

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How Burdensome Are Your State’s Nonresident Income Tax Filing Laws?

Fact: Nearly half the states in the US require individuals to file nonresident individual income tax returns if they work for even a single day within that state.

Our Tax History Holds the Key to a Fairer System

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Our Tax History Holds the Key to a Fairer System

– Tax Day 2024 sees highest-income individuals, most profitable corporations, richest families, and wealthiest investors paying lower tax rates compared to last century.
– Individuals with incomes over million paid an average tax rate between 40-60 percent in the years after World War II, but now the rate is around 26 percent.
– The average corporate tax rate in 2021 was less than 10 percent, compared to about 35 percent in the 1950s, ‘60s, and ‘70s.
– The estate tax has become ineffective at curbing family economic dynasties, allowing families to pass down large sums tax-free.

How IRS Direct Free File Fights Back Against Corporate Greed

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How IRS Direct Free File Fights Back Against Corporate Greed

Tax prep companies like Intuit’s TurboTax and H&R Block are taking an extra 9 hours and 0 from their average customer in low-income neighborhoods. These companies target low-income Black and Brown communities, coercing them into paying for services that are actually available for free. They use deceptive advertising, overcharging, and hiding free options to exploit economically disadvantaged communities. The companies primarily hire unqualified preparers and saturate neighborhoods with their services. The IRS Direct File pilot program offers a free alternative to costly tax preparation services in 12 states, empowering working-class people to keep money in their pockets.