36 articles
A new Tax Foundation report reveals a stark contrast in state tax policies, with 23 states lowering income tax rates since 2021. Meanwhile, Democrat-led states are increasingly proposing higher taxes on the wealthy, sparking concerns of an investor exodus.
Washington State Democrats are close to passing a "millionaire's tax" that would levy a 9.9% tax on income over $1 million. While proponents argue it will fund services and increase affordability, critics fear it will drive away businesses and the wealthy, impacting the state's economy.
Senator Mark Kelly criticizes the U.S. involvement in the Iran conflict, calling it a "bad deal" for taxpayers due to a lack of clear goals and rising gas prices. He questions the risks of naval operations in the Strait of Hormuz and proposes a federal gas tax holiday to ease consumer burdens, alongside tax reform aimed at middle-class relief.
A prominent voice suggests that anti-trans campaigns are funded by billionaires to distract from economic issues like tax hikes. This analysis explores the implications of using manufactured culture wars to divert public attention from pressing societal needs.
Republican Senators Ted Cruz and Tim Scott are reportedly urging the Treasury Department to illegally cut capital gains taxes, a move that critics say primarily benefits the wealthy and bypasses Congress. This action is framed as a desperate attempt to win back voters ahead of the midterm elections.
President Trump's proposal to replace income taxes with tariffs and the extension of lower tax rates under the 'One Big Beautiful Bill Act' for 2026 could reshape the U.S. fiscal landscape. Analysis suggests tariffs would need to increase dramatically to replace income tax revenue, while the new tax law offers adjusted brackets and expanded retirement savings options.
