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Facebook Co-Founder Gives Up US Citizenship
One of the billionaire co-founders of Facebook has renounced his US citizenship in a bid to slash his tax bill ahead of the gigantic IPO. Eduardo Saverin, 30, owns about 4% of the social network—a...
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How Romney Used Mormon Church to Defer Taxes
Since 1996, Mitt Romney has been deferring some of his taxes through something called a charitable remainder unitrust, a tax shelter Congress cracked down on little more than a year after Romney set...
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Wealthiest 20% Get Lion's Share of Tax Breaks
The top 20% of households in terms of income get a bit more than half of the 10 most significant tax breaks in the code, according to a new Congressional Budget Office analysis, with an outsized 17% of...
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The Donald's Tax Plan Has Arrived
Slowly but surely, Donald Trump is bulking up the position statements on his website. His immigration and gun rights platforms have now been joined by his new tax plan , which he announced Monday in a...
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White House Plans Bold Move on Taxes
The wealthiest Americans may be getting some good news on taxes from a big shift under consideration by the Treasury Department. The change would affect how capital gains taxes are figured in regard to...
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Buttigieg Plan: Free College for Families Under $100K
Pete Buttigieg wants to help low-income families with free college tuition, free childcare, and expanded tax credits, according to a $2.1 trillion economic plan announced Friday. The plan includes free...
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Report of Hefty Tax Hike Puts Wall Street in Bad Mood
The stock market had a rough day, and the Wall Street Journal blames speculation that President Biden plans to raise the capital gains tax rate. The Dow fell 321 points to 33,815, the S&P 500 fell...
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Democrats' New Strategy: Novel Tax on Billionaires
Democrats in Congress are still trying to figure out how to pay for President Biden's wish list, and it looks like they're settling on a plan to levy a novel penalty on the very richest of Americans....
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Guess Who's Not Keen on Dems' Billionaire Tax Plan?
Under a new proposal unveiled by Democrats this week, America's richest of the rich would soon be helping to pay for President Biden's domestic agenda by paying taxes on unrealized gains on assets like...
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