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Showing posts with the label INFLATION REDUCTION ACT

Democrats' IRS Crackdown on Millionaires Draws in $1 Billion

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                 THE IRS IS ABLE TO AUDIT WEALTHY TAX CHEATS & RECOVER UNPAID                     TAXES.....REPUBLICANS OPPOSE FUNDING THE IRS....whose side are they                          on?     Democrats' IRS Crackdown on Millionaires Draws in $1 Billion "This is what happens when you fund the IRS," said one tax fairness group. "Anyone trying to cut IRS funding just wants to protect rich tax cheats." As the U.S. Internal Revenue Service announced Thursday that it had recovered $1 billion in unpaid taxes from wealthy individuals, economic justice advocates said the news served as a reminder of a top priority for the Republican Party: ensuring that tax evasion can continue among the richest Americans. The IRS was able to recover the tax payments "thanks to historic funding from Democ...

September 27, 2022 HEATHER COX RICHARDSON

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September 27, 2022 Heather Cox Richardson Sep 28   Today, President Joe Biden held an event in the Rose Garden at the White House to celebrate the lower drug costs possible thanks to the Inflation Reduction Act, which passed without any Republican votes in either the House or the Senate. Phasing in over the next few years, the measure will cap the out-of-pocket costs for prescription drugs at $2000 a year and make vaccinations free for seniors on Medicare. If the price of drugs rises faster than inflation, drug companies will have to rebate the difference to Medicare. And Biden noted that today, the Department of Health and Human Services announced that the premium for Medicare Part B, which pays for doctor visits, will decrease this year. All of this was possible, he said, because the biggest corporations in America will have to pay a minimum corporate tax of 15%. “The days of billion-dollar companies paying zero taxes are over.” “And,” he added, “we’re doing all this by bringing ...

President Biden’s Inflation Reduction Act

  Fifty-five of the biggest corporations made $40 billion in profits in 2020 – and they didn’t pay a single penny in federal income tax. Under President Biden’s Inflation Reduction Act, corporations will now have to pay a minimum 15% tax. The RAILROADS that threatened to shut down the economy used their profits to BUY BACK STOCK and avoid taxes. The AIRLINES, pre-COVID, used their profits to BUY BACK STOCK, avoid taxes, and whined to get TAXPAYER BAILOUTS when the economy shut down. The 15% tax is global and should help other nations as well.

RSN: FOCUS: Ryan Grim | Sen. Kyrsten Sinema Privately Blew Up Biden Nominee Needed to Enact Regulatory Agenda

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    28 August 22 Live on the homepage now! Reader Supported News A SERIOUS, BUT VERY SOLVABLE FUNDRAISING PROBLEM — To end this fundraiser, quickly we need about “300” donations. We have gotten that in “1” day many, many times. “300” of you will visit RSN in the next “15” minutes. With urgency. Marc Ash • Founder, Reader Supported News Sure, I'll make a donation!   FOCUS: Ryan Grim | Sen. Kyrsten Sinema Privately Blew Up Biden Nominee Needed to Enact Regulatory Agenda Ryan Grim, The Intercept Grim writes: "With no single agency driving the regulatory process forward, rules can sit in limbo for years." Sinema quietly killed Biden’s nomination of Ganesh Sitaraman for an important regulatory office. A rizona Sen. Kyrsten Sinema was the one to scuttle President Joe Biden’s choice to head the obscure but all-important Office of Information and Regulatory Affairs , according to sources familiar with the standoff. The office was created to help speed — or, more accurately, make ...

RSN: Adam Harris | Biden's Cancellation of Billions in Debt Won't Solve the Larger Problem

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    28 August 22 A Daily Struggle Against Fascism Is what our work at RSN has become. It’s real, it’s pervasive and most people would rather not look at it. This is a pretty serious battle against some pretty serious people. We need funding in the worst way. Marc Ash Founder,  Reader Supported News Sure, I'll make a donation!   If you would prefer to send a check: Reader Supported News PO Box 2043 / Citrus Heights, CA 95611 Follow us on  facebook  and  twitter ! Update My Monthly Donation   27 August 22 Live on the homepage now! Reader Supported News WE NEED A FEW DONATIONS IN THE $100 RANGE — Right now it’s all very small donations. It’s inspiring but we need to augment that with a few slightly larger donations. Even as much as one hundred dollars really picks up the effort of the smaller donors. Who can manage a one hundred dollar donation? Sincerely. Marc Ash • Founder, Reader Supported News Sure, I'll make a donation!   Adam Harris | Bide...