US news | The Guardian

New York real estate titan likens the phrase ‘tax the rich’ to racial slurs

May 6, 2026Center Left

Steve Roth was responding to the announcement by New York’s mayor of tax on second homes worth more than $5mSign up for the Breaking News US newsletter email The phrase “tax the rich” can be “just as hateful as some disgusting racial slurs”, according to the New York City billionaire Steve Roth, who said that the top 1% should be “praised and thanked”.Speaking on his company’s quarterly earnings call on Tuesday, Roth, the CEO of Vornado Realty Trust, expressed his support for fellow billionaire and the CEO of Citadel, Ken Griffin, who was singled out in the 15 April announcement by New York’s mayor, Zohran Mamdani, of the state’s first “pied-à-terre” tax on second homes valued at more than $5m. In a video, Mamdani announced the policy in front of Griffin’s penthouse, which he said was purchased for $238m. Continue reading...

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Pay-to-play cycle behind GOP's corporate tax cuts exposed in new report

Raw Story

8 hours ago

Pay-to-play cycle behind GOP's corporate tax cuts exposed in new report

Major American corporations that benefited from tax cuts enacted last year by President Donald Trump and congressional Republicans are donating to the campaigns of GOP lawmakers who made the windfall possible.A report published Friday by Unrig Our Economy spotlights seven House Republicans who voted for the sprawling and unpopular GOP budget package, which extended tax breaks for corporations and wealthy Americans while inflicting unprecedented cuts on Medicaid and federal nutrition assistance—with disastrous consequences for millions of low-income families across the country.Rep. Mariannette Miller-Meeks (R-Iowa), one of the lawmakers featured in the new report, has received campaign donations from corporate PACs representing 3M, Amazon, Walmart, AT&T, and other companies that collectively received billions of dollars in tax breaks from the Republican law, which restored a provision allowing businesses to immediately write off new investments.Amazon saw its US income taxes fall by more than half last year due to the GOP law, even as the company’s profits grew. Unrig Our Economy noted that Amazon, whose PAC donated thousands to the Republicans spotlighted in the new report, has an effective federal tax rate of 1.37% following enactment of the budget law.Miller-Meeks, who has received at least $57,000 in donations from the PACs of companies that benefited from the 2025 law, issued a statement Thursday bragging about supporting “the largest tax cuts in American history,” not mentioning that the benefits will disproportionately flow to profitable corporations and the richest people in the country.“Thanks to the Republican tax law, corporations are receiving tax breaks, House Republicans are getting campaign cash, and working families are getting stuck with the bill,” the report states.Another Republican lawmaker featured in the report, Rob Bresnahan of Pennsylvania, received $2,500 in campaign donations from the PAC of FirstEnergy, which reaped $500 million in depreciation deductions thanks to the GOP tax law.“Bresnahan voted to give FirstEnergy hundreds of millions in tax breaks even after the company raised utility prices for his constituents,” Unrig Our Economy’s report observes.The report also points out that Bresnahan “owned stock in every single one” of the companies who contributed PAC money to his campaign following passage of the Republican budget package last summer.“This comes after Bresnahan has already faced scrutiny for dumping stock in Medicaid providers and selling off bonds in Pennsylvania hospitals before voting to slash Medicaid and put rural hospitals at risk,” the report notes.Leor Tal, Unrig Our Economy’s campaign director, said in a statement that “one year ago, House Republicans ripped away healthcare and food assistance from millions of Americans, so that corporations could get massive tax breaks.”“Now, many of those companies are dishing out PAC money to the Republicans listed in this report,” said Tal. “Republicans in Congress sold out many of their own constituents to help corporations get even richer. It’s time that House Republicans step up, do the right thing, and start fighting for working Americans—not giant corporations.”

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Good morning, my fellow Americans. Season after season, year after year, the tides have come in and out of New York Harbor long before the name New York had ever been spoken; Lenape dugouts crossed these currents. It was on these waters, tall masts crested the horizon, captained by explorers like Verrazzano and Hudson, after […]

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New York real estate titan likens the phrase ‘tax the rich’ to racial slurs

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New York real estate titan likens the phrase ‘tax the rich’ to racial slurs

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