Trickle-down economics is dead. It’s time to tax the rich harder theguardian.com/business/…
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50 years of tax cuts for the rich failed to trickle down, economics study says cbsnews.com/news/tax-cuts…
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🚨︎ report
β€˜Trickle-down’ tax cuts make the rich richer but are of no value to overall economy, study finds washingtonpost.com/busine…
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🚨︎ report
A huge study of 50 years of tax cuts for the wealthy suggests 'trickle down' economics makes inequality worse businessinsider.com/tax-c…
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Norway becomes first country to sell more electric cars than petrol vehicles: The Norwegian government plans to ban the sale of petrol and diesel cars by 2025, and is using tax breaks and financial incentives to encourage the purchasing of more sustainable vehicles. independent.co.uk/news/wo…
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Man checks Mayor where the city tax money is being reinvested. Never thought about it this way. v.redd.it/xm3u9kpcus261
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"The rich are bad" "No, Don't tax them they earned their money"
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Marginal Tax
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'Tired of That Hypocrisy': Sanders Blasts GOP for Claiming $2,000 Checks Are Too Costly After Passing $1.5 Trillion in Tax Cuts commondreams.org/news/202…
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The Warriors are spending $82.4 million including luxury-tax for Kelly Oubre this season. He's currently averaging 8.2 PPG on 27/4/60 shooting splits
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A Millionaire Senate Republican Cited the Deficit To Block Aid β€” After Enriching Himself With Tax Cuts jacobinmag.com/2020/12/re…
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Bernie Sanders Says U.S. Can Cancel All Student Debt if It Can Give the Top 1% $1 Trillion in Tax Breaks newsweek.com/bernie-sande…
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AOC is selling a gender-neutral β€œTax the Rich” sweatshirt. Cue the conservative outrage. lgbtqnation.com/2020/12/a…
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🚨︎ report
What we mean by "tax the rich"
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πŸ“…︎ Nov 21 2020
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Tampon tax abolished from today - The β€˜tampon tax’ has been abolished - with a zero rate of VAT applying to women’s sanitary products coming into effect today gov.uk/government/news/ta…
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House Democrats Demand Increase in IRS Funding to Go After 'Wealthy Tax Cheats'β€”Like Donald Trump commondreams.org/news/202…
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🚨︎ report
50 years of tax cuts for the rich failed to trickle down, economics study says cbsnews.com/news/tax-cuts…
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Tax deductible think tank believe billionaires shouldn't pay taxes
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🚨︎ report
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🚨︎ report
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πŸ“…︎ Dec 21 2020
🚨︎ report
TAX THE RICH
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πŸ‘€︎ u/lrlOurPresident
πŸ“…︎ Dec 08 2020
🚨︎ report
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🚨︎ report
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🚨︎ report
"A universal basic income would not only lift more than 3.2 million Canadians out of poverty, it would also create hundreds of thousands of new jobs, grow the economy by tens of billions of dollars and eventually pay for itself with increased tax revenues." thestar.com/news/gta/2020…
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🚨︎ report
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🚨︎ report
Tax. The. Rich.
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🚨︎ report
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🚨︎ report
Norway to increase carbon tax from $95/tonne to $240/tonne upstreamonline.com/enviro…
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🚨︎ report
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🚨︎ report
Megathread: Long-Concealed Records Show President Trump’s Losses and Years of Tax Avoidance
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🚨︎ report
UK abolishes 'sexist' tax on women's sanitary products apnews.com/article/663384…
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πŸ“…︎ Jan 01
🚨︎ report
The compass reacts to the Escape Tax.
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πŸ‘€︎ u/cosmicmangobear
πŸ“…︎ Dec 14 2020
🚨︎ report
YSK: At the end of December, the 2020 Social Security tax deferral will end.

Why YSK: For Americans; By presidential decree some employers were allowed to defer the Social Security (Old Age, Survivors, and Disability Insurance) or β€œOASDI” tax withholdings of their employees over the last 3 months.

What YSK: Beginning January 2021, the normal 6.2% Social Security tax withholdings will again be deducted and you will also see an additional deduction for the deferred 2020 Social Security tax collection taken from your pay.

That’s an additional 6.2% for a total of 12.4% withholding

Collection Process: Per IRS guidance, the Social Security taxes deferred in 2020 will be collected evenly from your pay between January 1 and April 30, 2021.

Tax Filing and W-2 Reporting: Your 2020 W-2 will be issued in January. You will receive a W-2c (Corrected Wages and Tax Statement) that includes the collection of deferred Social Security taxes in 2021; however, this does not change the deadlines established by the IRS for filing 2020 income tax returns. If you have questions on tax filing, the IRS provided instructions for employees receiving a W-2c due to the Social Security tax deferral. See IRS W-2 reporting link near the bottom of this message.

Background Information: Social Security tax withholdings were deferred effective mid-month September through December 2020, for those members with a monthly rate of basic pay of less than $8,666.66. This action was in response to the Presidential Memorandum issued on August 8, 2020, the Internal Revenue Service Notice 2020-65 issued August 28, 2020, and at the direction of the Office of Management and Budget and the Office of Personnel Management.

IRS information:

  • Tax Deferral Implementation: https://www.irs.gov/newsroom/guidance-issued-to-implement-presidential-memorandum-deferring-certain-employee-social-security-tax-withholding
  • W-2 Reporting: https://www.irs.gov/forms-pubs/form-w-2-reporting-of-employee-social-security-tax-deferred-under-notice-2020-65

Edit: Some said I should include this;

β€œYou should check with your employer on this. If they are not a government agency they may have opted out of the deferral. I know my employer did. The short term gain vs the long term payback was just kicking the can down the road. Either way the tax bill is due so you might as well pay it upfront.”

Edit: Not by CARES act but by presidential decree (memorandum)

Edit: added β€œFor Americans;” because apparently Non Americans feel the need to comment that they don’t need to know this, knowing they don’t

... keep reading on reddit ➑

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πŸ“°︎ r/YouShouldKnow
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πŸ‘€︎ u/bndboo
πŸ“…︎ Dec 22 2020
🚨︎ report
Tax the 0.1% richest
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πŸ‘€︎ u/esoterix_luke
πŸ“…︎ Nov 22 2020
🚨︎ report
It would be crazy to scream 'tax the rich' when the tax rate was much higher back then.
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πŸ“°︎ r/TheRightCantMeme
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πŸ‘€︎ u/DraconicCDR
πŸ“…︎ Dec 18 2020
🚨︎ report
Fifty Years of Tax Cuts for Rich Didn’t Trickle Down, Study Says bloomberg.com/news/articl…
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πŸ“…︎ Dec 16 2020
🚨︎ report
Trump Fraud Investigations Now Include Tax Write-offs for Ivanka nymag.com/intelligencer/2…
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πŸ‘€︎ u/joneas212
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🚨︎ report

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