There are many reasons that the D.C. elite fight so desperately to keep the corrupt and broken federal income tax and payroll tax system in place. Some of these are:
It is a great source of campaign contributions—threaten a special interest tax break and the money flows in to the politicians.
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The House of Representatives has passed a major bipartisan tax deal with new breaks for businesses as well as an expansion of the child tax credit. Read More.
Democratic State Rep. Bo Mitchell proposed legislation that would impose a 15% "thoughts and prayers" tax on the retail sale of firearms in Tennessee. Read More.
An unusual alliance of Republicans and some Democrats opposes the bill in the House. And if it passes, the tax package's future is uncertain in the Senate. Read More.
In a yellow-walled conference room at the Vermont statehouse this week, one attendee ate ice cream and another bounced a toddler on her lap -- but all were focused on a bill that would tax personal wealth for the first time in U.S. history. Read More.
A former IRS contractor who leaked a slew of confidential tax records filed by the wealthiest Americans, including those of President Donald Trump, is scheduled to be sentenced Monday by a federal judge in Washington. Read More.