Measures of the Trump administration generated a massive tax relief that has favored the ultra-rich and less revenue for social reinvestment
By Mary Papenfuss, HuffPost
As Republicans bellyache about Democrats not balancing the budget, a new report reveals that a massive Trump administration estate tax giveaway that particularly served the ultra-rich sparked a 50% plunge in IRS revenue from the taxes.
Estate tax payments dropped from $20 billion to just over $9 billion last year, Bloomberg reported, based on its analysis of IRS data.
American billionaires, meanwhile, have doubled their collective net worth to more than $5 trillion in just over five years.
Recent Posts
Fossil Fuel Hucksters Infiltrated A Civil Rights Convention
April 17, 2024
Take Action Now Al Sharpton invited methane representatives to his National Action Network convention, where they fear-mongered attendees about…
U.S. Issues Assurances On Assange
April 17, 2024
Take Action Now The U.S. Tuesday filed assurances on the death penalty and the 1st Amendment, the latter of which Stella Assange called a…
AOC On Gaza, Iran And The Media
April 17, 2024
Take Action Now Mehdi Hasan interviewed AOC at Zeteo’s launch event. By Team, Zeteo At the Zeteo launch event at the SPY Museum in Washington D.C.…
Teamsters For A Democratic Union And The New Labor Insurgency
April 16, 2024
Take Action Now The Teamster rank-and-file movement is spreading worker power and making the most of labor’s movement moment, writes longtime…