Tag Archives: taxes

Your stimulus check might be delayed if you filed your taxes with an online tax preparer


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Hunter Biden, president-elect’s son, says federal prosecutors probing his taxes


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Congress to Repeal Three Health Industry Taxes Intended to Fund Obamacare

Congress to Repeal Three Health Industry Taxes Intended to Fund ObamacareCongress is preparing to repeal three major health industry taxes meant to fund the Affordable Care Act in the year-end spending bill, dealing a significant blow to Obamacare's funding mechanisms.While congressional leaders are still hammering out the details of the spending bill, lawmakers have reportedly agreed to scrap the 40 percent Cadillac tax on high end employer plans, the 2.3 percent medical device tax, and an additional health insurance tax.The repeal of the taxes, which were mandated by the Obama administration's Affordable Care Act, constitutes a win for the health insurance industry and a severe funding problem for Obamacare. The Cadillac tax repeal is expected to cost nearly $ 200 billion over 10 years, while the repeals of the other two taxes are projected to cost between $ 15 billion and $ 25 billion each over the same period.Congress prevented the Cadillac tax, which drew strong opposition from employers and unions with expensive health benefits plans, from taking effect until 2022, and the House voted over the summer to abandon it permanently. The medical device and health insurance taxes have been enforced on and off since the Affordable Care Act was passed.The text of the $ 1.4 trillion spending bill is expected to be released Monday, and the package is expected to pass both the House and Senate this week.Some Senate Democrats, including Senate Minority Leader Chuck Schumer and Senator Pat Leahy have opposed the Cadillac tax since the Obama years, “This tax unfortunately would target far too many health plans and place far too great a burden on working families,” Leahy said in 2015. “We must find a way to contain the cost of health care without creating geographic disparities and limiting the benefits available in health plans.”



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UPDATE 6-Democrat Warren: Medicare for All would not raise U.S. middle-class taxes 'one penny'

UPDATE 6-Democrat Warren: Medicare for All would not raise U.S. middle-class taxes 'one penny'NEW YORK/WASHINGTON, Nov 1 (Reuters) – Democratic U.S. presidential candidate Elizabeth Warren on Friday proposed a $ 20.5 trillion Medicare for All plan that she said would not require raising middle-class taxes “one penny,” answering critics who had attacked her for failing to explain how she would pay for the sweeping healthcare system overhaul. The proposal to remake the U.S. healthcare system will face scrutiny from Warren’s more moderate Democratic opponents, who have questioned Medicare for All’s practicality. Warren’s proposal also calls for cuts in defense spending and passing immigration reform to increase tax revenue from newly legal Americans, two steps that would face an uphill battle in Congress.



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Democrat Warren: Medicare for All would not raise U.S. middle-class taxes 'one penny'

Democrat Warren: Medicare for All would not raise U.S. middle-class taxes 'one penny'NEW YORK/WASHINGTON (Reuters) – Democratic U.S. presidential candidate Elizabeth Warren on Friday proposed a $ 20.5 trillion Medicare for All plan that she said would not require raising middle-class taxes “one penny,” answering critics who had attacked her for failing to explain how she would pay for the sweeping healthcare system overhaul. The proposal to remake the U.S. healthcare system will face scrutiny from Warren’s more moderate Democratic opponents, who have questioned Medicare for All’s practicality.



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Democrat Warren: Medicare for All would not raise U.S. middle-class taxes 'one penny'

Democrat Warren: Medicare for All would not raise U.S. middle-class taxes 'one penny'NEW YORK/WASHINGTON (Reuters) – Democratic U.S. presidential candidate Elizabeth Warren on Friday proposed a $ 20.5 trillion Medicare for All plan that she said would not require raising middle-class taxes “one penny,” answering critics who had attacked her for failing to explain how she would pay for the sweeping healthcare system overhaul. The proposal to remake the U.S. healthcare system will face scrutiny from Warren’s more moderate Democratic opponents, who have questioned Medicare for All’s practicality.



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Bernie Sanders calls for higher taxes on companies with wide pay gaps

Bernie Sanders calls for higher taxes on companies with wide pay gapsSanders’ plan would raise tax rates on companies where the chief executive officer or highest-paid employee earns more than 50 times the median worker salary. The independent U.S. Senator from Vermont is competing for the Democratic nomination to challenge Republican President Donald Trump in the November 2020 election. “The American people are sick and tired of corporate CEOs who now make 300 times more than their average employees, while they give themselves huge bonuses and cut back on the healthcare and pension benefits of their employees,” Sanders said in a statement.



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Billionaire Democratic hopeful Steyer releases his taxes

Billionaire Democratic hopeful Steyer releases his taxesDemocratic presidential candidate Tom Steyer made well over a billion dollars over the last decade from holdings that not only include the hedge fund he founded, but also investments in Chinese private equity firms, tech startups, pharmaceutical companies and nursing homes, his tax filings show. On Thursday, Steyer followed through by posting more than 2,600 pages of records to his website.



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Warren Proposes Renewing Assault Weapon Ban, Hiking Gun Taxes

Warren Proposes Renewing Assault Weapon Ban, Hiking Gun Taxes(Bloomberg) — Less than a week after two deadly mass shootings renewed the gun control debate in the U.S., Elizabeth Warren set out an agenda for executive action and legislation to tighten firearms regulation and reinstitute a federal assault weapons ban.The Democratic presidential candidate said that if she’s elected she would ask Congress, among other measures, to create a federal licensing system for gun ownership, expand background checks and raise the tax on firearms to 30% for firearms and 50% for ammunition.“Our nation can no longer be held hostage by a small group of well-financed extremists who have already made it perfectly clear that they will never put the safety of the American people first,” Warren wrote in a Medium post Saturday. She vowed to “hold both gun dealers and manufacturers accountable for the violence promoted by their products.”Warren joins several other Democratic candidates in promising bold executive action to limit gun ownership, even though the president has very limited power to control the sales and use of firearms. The most sweeping actions, such as increasing taxes on guns and ammunition or prohibiting assault rifles like those used in last weekend’s mass shooting, would require cooperation from Congress. That’s unlikely to happen while Republicans, who’ve opposed stricter gun control, have a majority in the Senate.To end the stalemate in Congress, Warren said she’d break the National Rifle Association’s “stranglehold on Congress” through legislation that she said would sharply curtail the power of lobbyists. She also advocates the Senate end the filibuster, which allows a minority to block legislation.Warren would limit the number of guns that can be purchased to one per month, and require bulk sales of weapons to be reported. She would enact a federal ban in the production, sale, and importation of military-style assault weapons, large-capacity magazines for all firearms, and accessories that make guns more deadly, like silencers and trigger cranks.She proposed using more federal government resources to restrict gun trafficking across states and the southern border, and would pass a new federal gun licensing system and require permanent universal background checks.Warren said her administration would spend $ 100 million annually for gun safety research and raise the minimum age for gun purchases to 18 to keep more guns out of the hands of teenagers. She said her goal would be to cut the number of firearms deaths in the U.S. — almost 40,000 a year — by 80%, matching the decline in the number of people killed in vehicle crashes over the past half century.Warren rolled out her new plan ahead of a Gun Safety Forum in Des Moines, Iowa, on Saturday, organized by Everytown for Gun Safety. Several Democratic presidential candidates, including Joe Biden, Bernie Sanders and Pete Buttigieg, are scheduled to attend.Michael Bloomberg, owner of Bloomberg LP, the parent company of Bloomberg News, founded and helps fund Everytown for Gun Safety, a nonprofit that advocates for universal background checks and other gun violence prevention measures.To contact the reporter on this story: Misyrlena Egkolfopoulou in Iowa at megkolfopoul@bloomberg.netTo contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Virginia Van NattaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



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AOC on Trump's claim his taxes are under audit: 'We didn't ask you'

AOC on Trump's claim his taxes are under audit: 'We didn't ask you'Alexandria Ocasio-Cortez sounds off on the president's claim that his taxes are "under audit."



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