wealthy

Trump says $50 million raised from biggest fundraiser yet

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Trump says $50 million raised from biggest fundraiser yet

Donald Trump’s campaign raised .5 million at a Florida fundraiser, the largest of his campaign. The money will help cover his legal fees and previous payouts. Trump has the support of wealthy donors like Robert Mercer and Phil Ruffin. The fundraiser also raised money for Trump’s legal fees. Biden’s spokesperson suggested that billionaires support Trump due to tax preferences. The funds raised will be allocated to various groups, including Trump’s Save America leadership group. Trump’s campaign emphasized the importance of continuing fundraising momentum.

How investment firms shield the ultrawealthy from the IRS – ICIJ

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How investment firms shield the ultrawealthy from the IRS - ICIJ

The fact described in the text is that the IRS has received a major infusion of funding, including billion in 2022, to address the issue of large partnerships used by the ultrawealthy to hide income and avoid paying taxes.

Tax The Rich? They’ll Just Leave, Century Of Data Shows

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Tax The Rich? They'll Just Leave, Century Of Data Shows

Fact: When states raise their taxes, Americans making good money leave.

The Accidental Tax Cutter in Chief

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The Accidental Tax Cutter in Chief

President Biden has said that raising taxes on the wealthy and big corporations is at the heart of his agenda, but overall net taxes have decreased during his administration.

House GOP Plan Slashes Medicare, Social Security, Cuts Corporate Tax

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House GOP Plan Slashes Medicare, Social Security, Cuts Corporate Tax

The Republican Study Committee budget proposes over .5 trillion in cuts to Social Security and raises Medicare costs for seniors. This budget would also lead to longer wait times for seniors and people with disabilities when calling for assistance with Social Security and Medicare.

Does the Federal Tax Code Privilege the Rich?

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Does the Federal Tax Code Privilege the Rich?

The text discusses the progressivity of the federal tax code in the United States. The fact described in the text is that in 2021, taxpayers with higher incomes paid much higher average income tax rates than taxpayers with lower incomes.