Political Capital

Taxes

A homeless at Penn Station in New York City.

Photograph by Spencer Platt/Getty Images

A homeless at Penn Station in New York City.

‘Capital in the 21st Century:’ Too Big to Tweet

In that extended conversation about “The Great Gatsby Curve,” the fact that income distribution in modern-day America roughly equals the way money was held in 1928, Thomas Piketty hasn’t yet become the household tweet that political leaders favor lately. President...

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Seasonal worker Steven Flagg, dressed in a Statue of Liberty costume, holds a sign for a nearby Liberty Tax Service franchise location in Louisville, Kentucky, on April 12, 2014.

Photograph by Luke Sharrett/Bloomberg

Seasonal worker Steven Flagg, dressed in a Statue of Liberty costume, holds a sign for a nearby Liberty Tax Service franchise location in Louisville, Kentucky, on April 12, 2014.

Bloomberg by the Numbers: $1,259

    Each U.S. taxpayer would have to pay $1,259 on average to recoup revenue lost to corporations and individuals who use offshore tax havens.  ”The United States loses approximately $184 billion in federal and state revenue each year due...

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Richard Trumka, president of the AFL-CIO, during an interview in Washington, D.C., on March 11, 2014

Photograph by Andrew Harrer/Bloomberg

Richard Trumka, president of the AFL-CIO, during an interview in Washington, D.C., on March 11, 2014

U.S. CEOs Made 331 Times Average Worker, Says AFL-CIO

April 15 is known across America as a day of reckoning, when many workers must fork over unpaid taxes. AFL-CIO President Richard Trumka says that for corporate executives, tax day “represents making massive sums of money from the sacrifice of others.”...

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The Fisker Karma's solar roof, made by Quantum Fuel Systems Technologies Worldwide, Inc., along with Asola of Germany during the Los Angeles Auto show on Nov. 29, 2012.

Photograph by Kevork Djansezian/Getty Images

The Fisker Karma's solar roof, made by Quantum Fuel Systems Technologies Worldwide, Inc., along with Asola of Germany during the Los Angeles Auto show on Nov. 29, 2012.

China Billionaire Profits While U.S. Taxpayers Lose With Fisker

To hear the U.S. Department of Energy tell it, extracting $25 million for a busted loan to failed electric carmaker Fisker Automotive was a coup that cut the government’s loss to a more manageable amount. Now, a sizable chunk of...

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Kurt Busch, driver of the #41 Haas Automation Chevrolet, celebrates after winning the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 30, 2014 in Virginia.

Photograph by Chris Graythen/Getty Images

Kurt Busch, driver of the #41 Haas Automation Chevrolet, celebrates after winning the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 30, 2014 in Virginia.

NASCAR, Olympic Medals, Film, TV: Give us a Tax Break

Democrat Mark Warner backs a NASCAR tax break. Republican Johnny Isakson supports one for film and television productions. And Democrat Thomas Carper backs a provision that aids U.S. multinational companies’ offshore operations. Those are among the key takeaways from the...

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U.S. Treasury Inspector General for Tax Administration J. Russell George, former IRS Commissioner Douglas Shulman and Internal Revenue Service Director of Exempt Organizations Lois Lerner are sworn in before testifying to the House Oversight and Government Reform Committee on May 22, 2013 in Washington, DC.

Photograph by Chip Somodevilla/Getty Images

U.S. Treasury Inspector General for Tax Administration J. Russell George, former IRS Commissioner Douglas Shulman and Internal Revenue Service Director of Exempt Organizations Lois Lerner are sworn in before testifying to the House Oversight and Government Reform Committee on May 22, 2013 in Washington, DC.

IRS Oversight Board’s Empty Chairs

More than 300 days after a political controversy rocked the Internal Revenue Service, President Barack Obama did something rare: He nominated someone to the tax agency’s oversight board. His pick is Linda Millsaps, former chief operating officer at the North...

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A girl with a water container among debris of destroyed houses in Tacloban, Leyte province on Dec. 7, 2013.

Photograph by Noel Celis/AFP via Getty Images

A girl with a water container among debris of destroyed houses in Tacloban, Leyte province on Dec. 7, 2013.

Typhoon Tax Break: Still Time for Aid

Taxpayers who haven’t filed their 2013 income tax returns yet have a rare chance this year to get a last-minute deduction. Normally, Americans can claim deductions for charitable contributions made through Dec. 31, a deadline that typically spurs a flurry...

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Members of the media follow Lois Lerner, the director of the Internal Revenue Service's exempt organizations office, left, after a House Oversight and Government Reform Committee hearing in Washington, D.C., on May 22, 2013.

Photograph by Pete Marovich/Bloomberg

Members of the media follow Lois Lerner, the director of the Internal Revenue Service's exempt organizations office, left, after a House Oversight and Government Reform Committee hearing in Washington, D.C., on May 22, 2013.

IRS on Issa’s Document Request: ‘Months if Not Years’

It will take “months if not years” for the Internal Revenue Service to produce all  the documents requested by the House Oversight and Government Reform Committee, IRS Commissioner John Koskinen said today. Koskinen, in his first appearance at the committee,...

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Rep. Mike Simpson, R-Idaho, during the House Appropriations Committee to snack on during the markup of a fiscal 2012 interior and environment draft bill.

Photograph by Scott J. Ferrell/Congressional Quarterly/Getty Images

Rep. Mike Simpson, R-Idaho, during the House Appropriations Committee to snack on during the markup of a fiscal 2012 interior and environment draft bill.

Simpson Bags NRA Backing in Idaho

Idaho Rep. Mike Simpson, whose Republican primary challenger is backed by the Club ForGrowth, today bagged the endorsement of the National Rifle Association Political Victory Fund. David Keene, a former president of the National Rifle Association, delivered the group’s endorsement...

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