#Trump May Owe $100 Million From #DoubleDip Tax Breaks, Audit Shows
A previously unknown focus of an #IRS audit is a dubious accounting maneuver that effectively meant taking the same write-offs twice on his #Chicago skyscraper.
…The outcome of #Trump’s dispute could set a precedent for #wealthy people seeking #tax benefits from the laws governing partnerships. Those #laws are notoriously complex, riddled with uncertainty & under constant assault by lawyers pushing boundaries for their clients. The #IRS has inadvertently further invited aggressive positions by rarely auditing partnership tax returns.
#POTUS Biden will champion a new Microsoft #Artificial Intelligence investment in #Wisconsin on Wedn — showcasing the failed #economic commitments of his political rival Trump, whose promises for a #job-rich Foxconn plant in the battleground state never materialized.
Wielding a golden shovel, #Trump touted the #Foxconn flat-panel display factory as evidence of a broad #manufacturing revival stirred by his 2017 TaxCut which rewarded the [#wealthy & #corporations] & #tariffs on imported steel. “You know, 18 months ago this was a field, & now it’s one of the most advanced places of any kind you’ll see anywhere in the world. It’s incredible,” Trump crowed.
#POTUS Biden on Mon called for major new spending initiatives to lower costs for #healthcare, #ChildCare & #housing & enough new taxes on the wealthy & major corporations to pay for those proposals & also shave $3 trillion off the #NationalDebt over the next decade.
"Walking down the long hallways, I took deep, greedy breaths. There was a complete absence of odor, yet somehow the air felt bright, abundant—the opposite of stuffy, the inverse of stale."
What percentage of the electorate even hits the threshold for inheritance tax?
When 29% of #children in the UK are living in #poverty, children are arriving at school too hungry to learn, and in East Anglia, #rickets is back with a vengeance, what kind of government prioritises #tax breaks for the already #wealthy?
“At the time, #ClarenceThomas’ salary was $173,600, equivalent to >$300k today. But he was one of the least #wealthy#SCOTUS members…& on multiple occasions…, he pushed for ways to make more #money. In other private conversations, Thomas repeatedly talked about removing a ban on justices giving paid speeches.
“Thomas’ efforts were described in recs from …including a confidential memo to Chief Justice Rehnquist from a top #judiciary ofcl seeking guidance on what he termed a ‘delicate matter.’
This chart tells the story of the UK's problem with #inequality - 'The wealthy consume retail, leisure & hospitality; the low paid provide it'!
We've become a country that is structured to ensure the #wealthy have a pampered life (for which they under-pay) while the poor have become a quasi-servant class at the riches beck & call.
This looks so like the C19th that one would be tempted to use the old cliche that the UK is going 'back to the future'!
If we had #PublicTransport we could reduce #driving. But rural areas have no #Buses. Others who are using #trains or a #bus find #commuting a problem because of poor services. These issues are not being addressed as they don't make more money for the #wealthy & #elite.
Ein großer Teil der israelischen Bevölkerung ist weit davon entfernt, Netanjahus unflexiblen Anti-Zwei-Staaten-Strategien zuzustimmen. Tatsächlich betrachten ihn viele als die Ursache der aktuellen Katastrophe, die sich in Gaza immer noch ausweitet.
Rhymer Rigby (FT) offers some advice to the #wealthy (the 1%) who find themselves having to cut back now that elements of the #costoflivingcrisis has reached them:
'it’s probably a good idea generally not to do the “poor little rich person” act on social media, because you’ll always reach someone who makes your predicament look like a joke'!
If only they would take that advice... or perhaps we might wish they don't so they can be exposed to the ridicule they so richly deserve?
A big reason [#Shaughnessy is not becoming more dense is that #wealthy people have the money to keep it that way, says Kluckner.
“Most people buying in Shaughnessy, and much of the west side, want space and privacy and they have the #money to afford it. They’re defending their turf and the city can’t force them to build six units, or six storeys, or anything else.”]
Meanwhile in #Glasgow, the number of houses topping £1m grows.... not sure we should be celebrating house price #inflation, but it would seem at least some people have some confidence in the city's resilience.... or perhaps its just the latest place for the #wealthy to park their money while the less well-off struggle to find somewhere to live?
If you live in Glasgow I'm sure you'll have your own views on what sort of news this chart represents!