From the Professor:
In response to Biden’s recent comments, Amazon pointed out that they are following the tax code - McCaffery would just like to remind everyone that they spent a lot of money lobbying so that the tax code would look the way it does.
Around the Internet
Tax March, on Twitter, has been celebrating #TaxTheRich week, capitalizing on the discussions of inequality and systematic changes that democratic candidates are embracing. Our president is even celebrating in his own way, proposing a cut to the capital gains tax, which would only exacerbate the inequality of taxation.
In the News
Lyman Stone at The Atlantic discusses how the Boomers have capitalized on and expanded systems that has inflated their pay and worth by making it more difficult for millennials to break into the real estate and job markets.
From ProPublica - Military members making less than $66,000 per year can file their taxes for free. How could a company still turn that into a profit? By advertising a “Military Discount” for $60 filing instead.
Biden has turned his campaign focus towards inequality and the role the government has played in exacerbating the matter. If elected, Biden promised to repeal the cuts for the rich (as Wanda Sykes advised us, nothing good trickles down) and close $500 Billion in loopholes.
The Washington Post discusses how Trump’s economic moves are their own undoing.