Date(s) - 11/29/17
12:00 pm - 12:30 pm
Categories No Categories
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-Trump’s tax plan seems to be out a dystopian movie or book. A plan where billionaires can deduct costs from their private jets, while teachers may not be able to write off the school supplies they purchase for their students.
-In this dystopian tax plan, the biggest losers will be working class families from across the country. Teachers, firefighters, nurses… families struggling to get by and put food on the table.
-President Trump wants to give huge tax breaks to millionaires and wealthy corporations while cutting funding for Social Security, Medicare, Medicaid, education and other services for working families.
-When the wealthy elite avoid paying their taxes, they cheat our communities – they take resources away from public housing, healthcare, education, and so many vital programs and services that millions of New Yorkers and Americans across the country rely on.
-When fewer taxes are collected from the rich, our government has less money to invest in making our communities stronger, healthier, and better places to live.
-President Donald Trump’s administration is now responsible for collecting nearly $7 billion in unpaid taxes from the company of one of its biggest hedge fund backers.
-In July 2014, a Senate committee inquiry found that Renaissance Technologies allegedly tried to transform short-term trades into long-term ones (which are taxed at a lower rate) in transactions with Barclays and Deutsche Bank. Their goal, according to the committee: Avoid paying $6.8 billion in taxes between 1999 and 2014.
-New Yorker writer Jane Mayer wrote on Twitter Monday that hedge fund billionaire Robert Mercer, whom she recently profiled as the “reclusive hedge fund tycoon behind the Trump presidency,” is co-CEO of Renaissance, and that Trump’s administration “can now decide whether to press for payment – or not.”
-A staunch conservative who started his career as a computer scientist at IBM, Mercer bankrolled a number of projects that contributed to Trump’s rise in advance to the 2016 presidential election, the New Yorker reported in March.
-In addition to giving millions of dollars to the pro-Trump Make America Number One super PAC, Mercer sponsored public-opinion research suggesting an outsider candidate was likely to take over the presidency.
-Both on Twitter and in the New Yorker article, Mayer suggested that the ultimate decision on whether to push forward on the tax payment rests with the Trump administration. http://read.bi/2yIYWGv