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      Sen. Sheldon Whitehouse

      Senate Budget Chair Rips GOP Deficit Hawks Over Trillions in Tax Cuts for Rich

      "If not for the Bush tax cuts, their extensions, and then the Trump tax cuts, the U.S. debt-to-GDP ratio would be declining indefinitely," wrote Sen. Sheldon Whitehouse.

      Jake Johnson
      Dec 08, 2023

      The Democratic chair of the Senate Budget Committee rebuked his Republican colleagues on Thursday for demanding action to reduce the U.S. debt after adding roughly $10 trillion to it with tax cuts for the rich and large corporations.

      Sen. Sheldon Whitehouse (D-R.I.) was responding to a letter he received earlier this week from Republican members of the budget committee, who criticized the chair for dedicating "significant time and attention to climate issues" while purportedly neglecting "the impending budgetary and fiscal crisis facing our nation."

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      gop tax cuts
      Grocery bag

      Study Shows Corporate Profiteering 'Amplified' Global Inflation

      "Many large firms, beyond just the commodities sector, are using their power to preserve their profit margins," said the co-author of a new report.

      Jake Johnson
      Dec 07, 2023

      A pair of London-based think tanks released research Thursday showing that corporate profits contributed substantially to the high inflation that the United States, Germany, the United Kingdom, and other major nations experienced amid recent global shocks, including the coronavirus pandemic and Russia's invasion of Ukraine.

      The new report by the Institute for Public Policy Research (IPPR) and Common Wealth argues that while corporate profiteering was not the "sole driver of inflation," the market dominance of a few powerful companies "amplified" economywide price increases.

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      corporate greed
      Supreme Court protest

      The Supreme Court Could Blow Up the Tax Code With Moore vs US

      The Moore’s real fight seems to be about progressive tax policies that have not even been enacted, proposals that would finally tax the unrealized capital gains of the extremely wealthy in an adequate way.

      Steve Wamhoff
      Dec 03, 2023

      On Tuesday, the U.S. Supreme Court will begin hearing oral arguments in Moore vs. United States, which could become the most important tax case in a century. A broad ruling could destabilize our tax system, enrich many profitable corporations, and widen existing economic and racial inequalities.

      The case tests whether the plaintiffs, Charles and Kathleen Moore, must pay taxes on their profits as partial owners of a multinational corporation, as required by 2017’s Tax Cuts and Jobs Act. A finding for the plaintiffs could lead the courts to strike down many tax laws that have been in place for decades. Their argument was rejected by other courts, but the Supreme Court nonetheless agreed to hear the case.

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      moore v. united states
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      Study Shows Corporate Profiteering 'Amplified' Global Inflation

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