It appears that Donald Trump successfully lost $915 million in 1995. We say "successfully" because it allowed him to avoid paying federal income taxes for up to two decades (at $50 million per year) and it may not have cost him a cent.
Over nine million American families lost their homes in the aftermath of the 2008 financial crisis and millions watched their retirement savings evaporate. Meanwhile, the Wall Street banks that caused the crash were doling out executive stock options that would generate huge windfalls once bailout funds had pushed up their stock prices.
Here's a riddle for you: What do Donald Trump and Hillary Clinton have in common? And no, it's not that if Donald Trump were a woman he'd garner less than 5% of the vote.
The announcement followed the unveiling of new U.S. Treasury rules on Monday aimed at curbing such deals.
Stanford Law Professor Reveals The Most Pervasive Forms Of Tax Evasion And It's Not What You Would Think
Individuals who don't own businesses spend tens of billions of dollars each year (in fees and time) filing taxes. Most of this is unnecessary. The government already has most of the information it asks us to provide. It knows what are wages are, how much interest we earn, and so on. It should provide the information it has on the right line of an electronic tax return it provides us or our accountant.
The thousands of pages of the federal tax code -- and the tens of thousands of pages of ensuing regulations and judicial rulings -- offer many ways to reduce your taxes. These arrangements are often nicknamed loopholes when they apply to only some people.
Now, a group of policy experts, government officials and economists, including Nobel Prize winner Joseph Stiglitz, has a
So many children have lost ground as the trumped-up fear of excessive debt children did not cause has been used by some in Congress to cut safety net programs we know work.
Another year has come and gone, and 2015 presents an opportunity to start fresh. With that in mind, it's time for the newly minted 114th Congress to make the right choices for the public's interest in its New Year's resolutions, and making the tax code fairer is a good place to start.
These giveaways could be called "corruption taxes." The definition of a "corruption tax" is a transfer of wealth to the very rich that no honest congressperson would support if campaigns were publicly financed.