Hopefully your Valentine’s date spends more on you than Tesla does in taxes. #TaxValentines
14.02.2026 16:35
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Hopefully your Valentine’s date spends more on you than Tesla does in taxes. #TaxValentines
The massive tax giveaways to the rich included in the One Big Beautiful Bill Act are completely out of step with what the American people want and need.
Fortunately states have plenty of options to move policy back toward the public’s will. www.governing.com/finance/stat...
According to @goodjobsfirst.org, at least 10 states are already losing more than $100 million each in revenue per year from data center tax breaks.
That's money that could be going to education, infrastructure, or anything more useful than another data center. itep.org/states-are-o...
Perfect response from Nvidia CEO Jensen Huang on California’s proposed billionaire tax: “I’m perfectly fine with it. It never crossed my mind once.” www.wsj.com/business/nvi...
There are now 935 billionaires in the U.S. with a combined wealth totaling $8.1 trillion.
According to @ips-dc.org, the richest 15 billionaires saw their wealth surge to $3.2 trillion at the end of 2025, up 33% from a year ago.
Wealth inequality is out of control. ips-dc.org/resource-ric...
Sounds good to us.
Intuit, owner of TurboTax, claimed $328 million in R&D tax breaks over the past 3 years.
That’s more than the cost of the IRS’s Direct File program that the Trump admin just shut down.
Intuit's market share is larger, profits are up, and Americans are forced to pay more just to file their taxes.
Reminder that the richest 1% of Americans will receive $1 trillion in tax cuts over the next decade, thanks to the tax bill that Trump and Congressional Republicans passed this year. itep.org/top-1-to-rec...
At least 10 states already lose more than $100 million per year in tax revenue to data centers, according to @goodjobsfirst.org.
goodjobsfirst.org/cloudy-with-...
A new CBO report finds the Trump administration’s latest corporate tax cuts are already worsening the already-challenging federal budget deficit.
Corporate income taxes are $77 billion lower than in the previous year, a 15% drop. itep.org/trump-tax-la...
“Each and every analysis from the nonpartisan Congressional Budget Office continues to show the same result regardless of how you look at it: this bill explodes the debt by trillions of dollars to fund tax breaks for billionaires." thehill.com/homenews/sen...
How will your taxes change next year now that the megabill has been signed into law?
People making less than $53,000 could see their taxes increase.
The richest 1% alone will benefit more from Trump’s tax plan than the bottom 80% of Americans.
itep.org/how-will-tru...
"Just one more tax cut for the rich please bro it'll trickle down this time it's good for the economy"
This is what Congress approved today.
Trump and the Republican Congress literally just took health care and food from struggling families to give a TRILLION dollars to the top 1% over the next decade. They own that now.
graph showing debt/gdp from 2001 to present. it breaks out the effect of the bush tax cuts, the trump tax cuts, and our one-time responses to the great recession and to covid. without the bush and trump tax cuts, debt/gdp would be stable.
I updated this old graph of mine. It shows that, if not for the Bush and Trump tax cuts, debt/GDP would be stable rather than rising forever.
I've updated the methodology to first assume an AMT patch at Clinton levels, so I'm only attributing to the Bush tax cuts their portion of the AMT patch.
The tax cuts in the House bill are mostly for the wealthy. 68% of the cuts go to the richest 20%.
On top of that, the bill also includes a new way for rich people to avoid taxes by donating to school vouchers and a harsher tax code for immigrants and their families.
itep.org/federal-tax-...
In the middle of the night, the House of Representatives pushed through a bill that rips health insurance and food assistance from millions, leaves the poorest households worse off, and sends massive tax cuts to the rich - all while increasing the deficit by trillions. www.npr.org/2025/05/21/n...
If you’re working class, this tax bill has very little for you and quite a lot for people much richer than you. newrepublic.com/article/1952...
America's 19 richest households gained $1 trillion in wealth last year. That increase is greater than Switzerland’s entire economy.
The ultra-rich can afford to pay more in taxes.
States that raise taxes on their wealthiest residents don't see hordes of them leave, our director @amyhanauer.bsky.social explains.
Instead, they raise money needed to improve their communities.
Out of all income groups, the richest 1% pay the smallest share of income on taxes in 41 states.
The Trump administration is trying to gut the IRS at the benefit of the rich and corporations.
Their latest move against the agency: Ending a free tax filing program to ensure that the multibillion-dollar tax prep industry can boost its profits. itep.org/trump-admini...
#TaxDay reminder
Congressional Republicans are attempting to make the $4.6 trillion cost of their tax plan disappear with an accounting gimmick.
Don’t be fooled. open.substack.com/pub/itep/p/s...
During his speech to Congress this week, Trump failed to mention his goal of giving huge tax cuts to rich people, his goal of giving huge tax cuts to corporations, or how his tariffs will raise most Americans’ taxes. itep.org/trump-addres...
RE Jeff Bezos' planned weekly homages to "free markets": I can't think of another business whose success has so transparently relied on short-circuiting the workings of free markets. From the very beginning, Amazon's competitive advantage was built on tax avoidance. (1/x)
www.npr.org/2025/02/26/n...
