Trump’s is a Tax Plan for the Wealthy

The recently released details of presidential candidate Donald Trump’s anticipated tax plan provide insight into the real estate mogul’s vision for the tax code—a vision in which the wealthiest Americans receive massive tax giveaways.

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Bill Would Eliminate Child Tax Credit for Many Low-Income Families in 2018

The Child Tax Credit (CTC) provides families as much as $1,000 per child in tax relief. This partially refundable credit, when combined with the Earned Income Tax Credit (EITC), lifted 5.3 million children out of poverty in 2012, helping to improve the lives of low-income working families.

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NPP Analyzes “Competing Visions” for America

Earlier this week, National Priorities Project (NPP) released its annual analysis of the budget proposals put forward by the president, Rep. Paul Ryan (R-WI) and the House Budget Committee, and the Congressional Progressive Caucus.

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Senate Proposal for Infrastructure Bank Benefits Tax Dodgers

Sen.s Michael Bennet (D-CO) and Roy Blunt (R-MO) announced their intention to file legislation to establish an infrastructure bank funded by multinational corporations, which would receive significant tax forgiveness on their offshore profits in exchange for capitalizing the bank. The bill is the Senate companion of the Partnership to Build America Act (H.R.

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Paul Ryan's 'Path to Prosperity' ... for the Rich


Released Tuesday morning amid great fanfare, Rep. Paul Ryan's (R-WI) fiscal year (FY) 2012 budget proposal is turning out to be a grab bag of right-wing economic crankery. In fact, that's too nice: the proposal is flat out awful. And when I say "awful," I don't just mean evisceration-of-two-very-popular-social-safety-net-programs or two-thirds-of-proposed-spending-cuts-from-low-income-programs awful, but tax-hikes-on-middle-and-low-income-folks-combined-with-tax-cuts-for-the-rich awful.

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The Carried Interest Loophole-Closer is the Kitty and Congress is trying to put it in the Microwave

No kittens were harmed in the making of this blog post

Citizens for Tax Justice (CTJ) released an important call to action along with a report this afternoon about carried interest, the loophole that allows multimillionaire investment fund managers to subject their income to lower tax rates than the average citizen. The "extenders" tax package, which is currently before the Senate, includes a carried interest loophole-closer, but it seems that senators are listening to the fund managers' well-heeled lobbyists and their ridiculous claims against this commonsense policy change.

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CTJ Shows Tax Proposals in Rep. Ryan's 'Roadmap' Lead to Disaster

Luckily, No One was Hurt...

In a report released yesterday, Citizens for Tax Justice (CTJ) critically examine the tax policies proposed recently in Rep. Paul Ryan's (R-WI) budget alternative, conventionally titled, "A Roadmap for America's Future." Claims of the proposal "balancing the budget" and "reforming entitlements" have already been thoroughly debunked, but CTJ has contributed a valuable analysis of the young Republican's tax policies, which will actually cost the government "$2 trillion over a decade even while requiring 90 percent of taxpayers to pay more" than they already do in taxes.

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Estate Tax Foes Attempt to Enlist Religious Conservatives

Christian Soldiers Unite

It seems old Dick Patten at the American Family Business Institute (AFBI) is up to his old tricks again, trying to scare people about the estate tax with lies and distortions in an attempt to gin up support to kill the tax in Congress. This time, though, he's adopted pious language to spread the gospel of the "evils" of the tax among religious conservatives.

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House Set to Vote on Pomeroy Estate Tax Bill

The Biltmore Estate

The House plans to take up estate tax reform as early as tomorrow with a vote on Rep. Earl Pomeroy's (D-ND) Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 (H.R. 4154). The Pomeroy bill would permanently extend current estate tax law at a $7 million exemption for couples at a 45 percent rate. Without congressional action this year, the estate tax will expire in 2010 and then come back in 2011 under its pre-Bush tax cut levels of a $2 million exemption for couples at a 55 percent rate. OMB Watch has submitted a statement of support to Rep. Pomeroy's office, and several other non-profits have come out with reports to back up the legislation.

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CTJ: For Some in Congress, Priorities Lie With the Rich

Citizens for Tax Justice

According to a new report released today by Citizens for Tax Justice (CTJ), the tax cuts passed under President George W. Bush, which provide benefits mostly to the rich, will cost the country $2.5 trillion over the decade after they were first enacted (2001-2010). A number of lawmakers who voted for the Bush tax cuts have recently been arguing against health care reform legislation aimed at helping all Americans, claiming reforms are "too costly." How can this be?

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