Massachusetts Loses Billions in Income After Millionaire Tax
Source: Bloomberg Politics · Bias: Center
Summary
Residents exiting Massachusetts took a net of $4.2 billion in adjusted gross income with them in 2023, one of the largest totals in the country, after a tax on millionaires took effect.
Massachusetts Loses Billions in Income After Millionaire Tax
Center
Residents exiting Massachusetts took a net of $4.2 billion in adjusted gross income with them in 2023, one of the largest totals in the country, after a tax on millionaires took effect.
A Fox News host uncorked a bizarre on-air tirade against Democratic Senate candidate James Talarico, calling him a "demon in human skin."Emily Compagno appeared to lose her composure on Friday's edition of "Outnumbered" while discussing Talarico, a 37-year-old state representative now in a statistical tie with embattled Republican nominee Ken Paxton. Compagno was reacting to a conservative PAC attack ad featuring Talarico calling the American flag a "complicated" symbol for many Americans."Every single voter [in Texas] needs to understand exactly who they would vote into office, which is an anti-business, anti-commerce, anti-capitalist, anti-Texas Texan," Compagno railed.She then escalated sharply."This person is a demon in human skin, and they need to make sure he does not go anywhere — to the nation's capital, where he can actually do some real damage other than his horrible words that he keeps spewing," she said.A Talarico spokesman responded that the campaign could confirm the candidate is "in fact a human, and not a demon in human skin."The outburst lands as the race tightens into a genuine toss-up. A New York Times/Siena survey released Monday found Paxton and Talarico deadlocked at 47 percent among likely voters, with Talarico leading 58-31 among independents and 61-29 among Hispanic voters.Paxton defeated four-term Sen. John Cornyn in a May 26 primary runoff after President Donald Trump threw his backing to the state's scandal-plagued attorney general. Paxton was impeached by the Texas House in 2023 before being acquitted by the state Senate, and he has faced years of criminal securities fraud allegations and accusations of abusing his office.Trump himself has appeared unsettled by Talarico's rise. In a Truth Social post after the runoff, the president refused to use the Democrat's name, instead branding him "Alfred E. Neuman" and "the worst TEXAS candidate I have ever seen."On "Outnumbered," Compagno added that Talarico's past remarks were "patently disqualifying for any American senator."Compagno on Talarico: This person is a demon in human skin pic.twitter.com/BM5nohCvxT— Acyn (@Acyn) July 3, 2026
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.”
Former Rep. Marjorie Taylor Greene (R-GA) torched what was left of her relationship with President Donald Trump on Thursday after new financial disclosures showed he personally pocketed $2.2 billion during his first year back in office, The New York Times reported Friday. "The Republican Party hijacked MAGA," Greene wrote on X, the Times reported.Some MAGA voices went further, framing the windfall as proof of Trump's business savvy rather than a conflict of interest. Iowa activist Kelley Koch, who chairs a group called MAGA Nation, brushed off outrage entirely: "Let's just be honest, people are checked out right now," she said, speaking with the Times.Democrats weren't nearly as forgiving. California Gov. Gavin Newsom called Trump "the most corrupt president in American history," while Rep. Haley Stevens (D-MI) accused him of standing "with the billionaire class" while ordinary Americans struggle, the Times reported.
Democrats are preparing a hostile audit of President Trump and his inner circle, intent on exposing — and ultimately ending — the most lucrative presidency in American history.Why it matters: Since winning the 2024 election, Trump has operated in a Wild West of his own making — monetizing the office to the tune of billions, while enabling family, friends and donors to cash in along the way.He and the White House have denied any conflicts of interest. Republicans, who spent years investigating the Biden family's business dealings, have shielded Trump from the same scrutiny.But Democrats see the presidential gold rush as corruption personified — and plan to bury Trump's orbit in subpoenas if they win the House in November's midterms.Zoom in: Trump's $2.2 billion financial disclosure is a 927-page roadmap for the coming investigations, itemizing every known venture that made 2025 the richest year of his life.A crypto business that barely existed when Trump took office minted him roughly $1.2 billion — eclipsing, in a single year, the real estate empire he spent decades building.His biggest single payday was $635 million in royalties from the $TRUMP meme coin, which has crashed roughly 95% from its inauguration-week launch — destroying billions for the small investors who bought in.Trump also reported tens of millions from legal settlements with major media and tech companies, plus new income from branded watches, sneakers, Bibles, fragrances and foreign licensing deals.Zoom out: For Democratic investigators, the ripest targets are the people around Trump: family, appointees and allies who, unlike the president, can be compelled to testify under oath.World Liberty Financial, the crypto venture launched by the Trump and Witkoff families, has become a magnet for foreign money, including a secret $500 million investment from a senior Emirati royal.A New York Times investigation found that Donald Trump Jr., Eric Trump and the sons of Commerce Secretary Howard Lutnick have ties to at least 14 companies seeking $8.9 billion in federal support for critical-minerals deals.Jared Kushner, Trump's son-in-law, has raised billions from Gulf governments while leading Middle East peace talks. In Albania, Kushner's firm won "strategic investor" status for a $1.4 billion luxury resort on a protected island — igniting mass protests dubbed the "flamingo revolution."What they're saying: Trump dismissed criticism of his financial disclosure on Wednesday, telling reporters his money is run by outside advisers in what he called a "blind account.""Everybody is profiting," Trump said, because "the stock market's going up."In a CNBC interview Thursday, Trump said he didn't know about many of the crypto gains disclosed in the filing because his son Eric and outside firms handle his investments. But he also argued that even if he had known, "there's nothing illegal with that," saying presidents cannot realistically recuse themselves from every decision that might affect their finances.Reality check: Trump's defense focuses on who manages his investments. Democrats are preparing to scrutinize the much bigger ecosystem around them: a portfolio that made more than 21,000 securities transactions in 2025, a family crypto empire, foreign business deals and other ventures that expanded alongside his presidency.The explanation also sidesteps broader ethics questions, including Trump's acceptance of a $400 million Qatari jet that entered service as Air Force One on Wednesday.Trump plans to keep the luxury plane — the largest foreign gift in U.S. history — for his presidential library after he leaves office.White House spokesperson Anna Kelly said in a statement: "President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media. There are no conflicts of interest."The big picture: Scrutiny of Trump's finances comes amid a growing anti-billionaire current in U.S. politics, exacerbated by a cost-of-living crisis the president repeatedly has downplayed.The number of democratic socialists in Congress is poised to more than double after the midterms, giving the left's anti-oligarchy message a bigger platform inside the Democratic Party.Sen. Jon Ossoff (D-Ga.) has made corruption the central theme of his re-election message, drawing 2028 chatter for his viral speeches detailing the Trump family's foreign windfalls.For Democrats, the bet is that Trump's profits can become part of a broader affordability argument: Washington works for the well-connected, while everyone else pays the price.The bottom line: It's no secret that Democrats intend to make life miserable for Trump and his inner circle if they win the midterms."They will turn every committee of Congress into an investigative body, and they'll go after the president's family, the Cabinet, his donors and friends," House Speaker...
New financial disclosures by President Donald Trump show that he made more than $1.4 billion from his family’s various cryptocurrency ventures last year, reaping a windfall after pulling back on regulation of the industry and promoting the United States as “the crypto capital of the world.” Other Trump businesses, like his resorts and golf courses, have also flourished since his return to the White House, while the Trump Organization has also licensed the family name to properties in countries that are crucial to U.S. foreign policy interests, including Saudi Arabia and Qatar.
“It’s been an incredibly successful period for the Trump family,” says Reuters investigative reporter Tom Bergin.
An angry woman confronted Democrat Brockton Mayor Moises Rodrigues after he enacted a 'safety curfew' and canceled the America 250 July 4 fireworks.
The post Angry Woman Confronts Massachusetts Mayor For Canceling America 250 Fireworks (VIDEO) appeared first on The Gateway Pundit.
