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The Hidden Costs of Elizabeth Warren's 'Ultra-Millionaire' Tax

Mar 28, 2026Center Right

The Massachusetts senator fails to consider how her tax would harm middle class Americans and slow economic growth.

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

Raw Story

6 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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How did 16 hidden Ohio kids go undetected for years? Experts weigh in

NewsNation

11 hours ago

How did 16 hidden Ohio kids go undetected for years? Experts weigh in

Four adults face felony child endangerment charges after 16 kids were found living in squalid conditions.

Center

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How Much Is Trump’s Insane July 4 Fireworks Show Going to Cost?

The New Republic

Yesterday

How Much Is Trump’s Insane July 4 Fireworks Show Going to Cost?

The White House is trying to break a fireworks record on Saturday—but doing so will likely cost taxpayers a pretty penny.The Trump administration has not communicated how much the July 4 celebration will cost, or who is expected to foot the bill for the pyrotechnics display. There has been no public record of the company behind the show, Pyrotecnico, receiving a standard government contract for the job, as has been the case with Washington’s previous July 4 celebrations.In lieu of concrete digits, NOTUS’s Anna Kramer reached out to several fireworks companies for a rough estimate on the show’s price tag. They projected the cost in the millions.“You’re talking a many multimillion-dollar production, without a doubt,” James Woods, the director of sales at Pyro Shows in Tennessee, told NOTUS. Pyro Shows assisted in one of the previous world record-setting fireworks displays in Dubai in 2014.Woods told NOTUS that some of the individual shells used in the upcoming celebration could cost anywhere between $50 to $1,000. NOTUS estimated that if even “3 percent of the devices used in this show cost $50, that would total $1.3 million for those devices alone.”This year, the Freedom 250 celebration has promised a record-shattering 40-minute display beginning at 10:30 p.m. that will use more than 860,000 explosives. They’ll be set off along the Reflecting Pool, as well as in West Potomac Park and off of eight barges on the Potomac River.The current record is held by the Iglesia Ni Cristo, a church in the Philippines that earned the Guinness World Record title in 2016 for lighting 809,000 fireworks during a New Year’s Eve event.Another fireworks professional, Kellner’s Fireworks owner Bob Kellner, hypothesized that even if the entire record-setting show were composed of “filler” shells (the cheapest explosives possible, sold for around $2 a pop), the display would still cost a minimum of $1.7 million. But only hitting that bare minimum is highly unlikely, as more sophisticated fireworks cost significantly more.There is just one federal record offering details about the upcoming semiquincentennial. A document from the Interior Department, dated December 2025, dedicated $1.5 million to Garden State Fireworks to run the display. But that was months before Donald Trump promised to launch “the LARGEST FIREWORKS SHOW IN HISTORY” on Independence Day 2026.NOTUS reported that Garden State Fireworks has been responsible for the capital’s July Fourth show for the last decade, and typically receives a contract between $250,000 and $300,000 for the display.

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Trump's 'well unified' party isn't so unified —and it's costing the GOP everything

Alternet.org

Yesterday

Trump's 'well unified' party isn't so unified —and it's costing the GOP everything

President Donald Trump likes to boast that he has a “well unified” Republican Party, and even that he is so influential he rather than Rep. Mike Johnson (R-LA) is the true Speaker of the House of Representatives. Yet according to a respected political analyst, the evidence is that neither Trump nor Johnson can keep the 218 Republicans in sufficient line to get anything done against the 212 Democrats who oppose them.“GOP leaders intended to focus this week on advancing an annual must-pass defense policy bill, called the National Defense Authorization Act, or NDAA, and a key spending bill that funds the State Department, among other things,” reported MS NOW’s Steve Benen on Wednesday. “More than a dozen House Republicans, however, decided they didn’t care for that plan, with some arguing the chamber should do nothing but focus on Trump’s voter-suppression proposal, which the White House has labeled the SAVE America Act, as others pointed to party leaders’ promise of a vote on an anti-immigration bill before the July 4 recess.”He added, “The House speaker tried to legislate anyway, hoping enough of his members would stick together and follow his lead. That didn’t go well: 13 GOP members revolted and voted with Democrats on a key procedural vote, making Johnson look weak and leaving him with little choice but to start the chamber’s holiday break early.”Johnson has gone out of his way to support Trump whenever possible, from vowing to keep Republicans in control of the House so Trump will not face investigations from Democrats to soothing his rage at losing in the Supreme Court’s birthright citizenship case by suggesting a Constitutional amendment to get around that problem. Yet he was unable to actually accomplish anything in the lead-up to the July 4th holiday season.“For his part, Trump has made at least tacit efforts to curb these GOP rebellions, declaring by way of his social media platform last week, ‘House Republicans should unify, and stop voting down ‘Rules’ or, threatening to do so. … No more grandstanding, please!’” Benen reported. “The trouble is, the far-right members ignoring the speaker’s wishes (and the president’s rhetorical sops) are doing so in order to do the president’s bidding and champion his legislative priority.”He concluded, “But the underlying problem is the unavoidable fact that Johnson is simply too weak to legislate with such a small majority. Bipartisan majorities have already gone around him with more successful discharge petitions than anyone has seen in generations, and the Louisiana Republican’s latest failures this week reinforce perceptions that he just isn’t in control of the House floor he ostensibly leads.”

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Taxes on Trump's $1.4 billion crypto income could total hundreds of millions

Politics - CBSNews.com

Yesterday

Taxes on Trump's $1.4 billion crypto income could total hundreds of millions

The White House declined to say how much the president paid in taxes on his crypto windfall.

Center

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German Coalition Offers €10 Billion in Tax Relief in Reform Pact

Bloomberg Politics

Yesterday

German Coalition Offers €10 Billion in Tax Relief in Reform Pact

Chancellor Friedrich Merz’s coalition agreed on €10 billion ($11.4 billion) in annual income tax relief and a range of measures to bolster Germany’s labor market as part of a set of reforms designed to revive economic growth and stabilize the budget.

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Vance says Democrats headed toward communism: ‘This is not raising taxes a little bit’

The Hill News

2 days ago

Vance says Democrats headed toward communism: ‘This is not raising taxes a little bit’

Vice President Vance on Tuesday accused Democrats of heading toward communism, citing recent Democratic primary victories by democratic socialist candidates and claiming the policies they propose are “not raising taxes a little bit.” The vice president appeared on “The Ingraham Angle” on Fox News, where host Laura Ingraham asked if democratic socialist candidates are going…

Center

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Trump Shows Off His Qatari Jet as He Dodges Key Question on Costs

The New Republic

2 days ago

Trump Shows Off His Qatari Jet as He Dodges Key Question on Costs

President Donald Trump took some time out of his morning to announce his very first trip on the Qatari jet he was gifted last year, bragging about the Air Force One replacement he claims was “free” while dodging questions about how much it actually costs.“Air Force One was 35, 36 years old. It would be parked next to the new [jets] like this, and it didn’t look appropriate for our country,” Trump told reporters outside Joint Base Andrews on Wednesday morning. “The country is very proud of it.… You can low-key it, or you can show it. And I think the country should be very proud of it.”“What’s your favorite upgrade to the new plane, and how much did it cost American taxpayers to upgrade the plane?” a reporter asked.“Very little relative to what it would cost if we did it a different way. This was a gift from a country that’s treated us very well, they’re an ally of us over in the Middle East—Qatar. And I went to Boeing, I said ‘who has the best one?’ Qatar, there’s never been a plane like it,” Trump replied, not actually answering the question. “The Emir [of Qatar], Tamim [bin Hamad Al Thani], who’s a great gentlemen, he said, ‘No, no, I’d like to make a contribution to the country.’ So it was very nice. We were able to do it in about five months, bring it up to the presidential standard—meaning security-wise. You’re gonna get a kick out of it.”Q: How much did it cost American taxpayers to upgrade the plane?TRUMP: It cost very little relative to what it would cost if we did it a different way. This was a gift from a country that's treated us very well. pic.twitter.com/JNd27YeGpR— Aaron Rupar (@atrupar) July 1, 2026The jet—one of the largest presidential gifts ever—is valued at $400 million. The Air Force said it spent around $400 million on renovating the plane, changing the cabin layout, communications system, and security upgrades. That doesn’t account for the taxpayer-funded, continued maintenance of the plane, either.

Left

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The Hidden Costs of Elizabeth Warren's 'Ultra-Millionaire' Tax

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The Hidden Costs of Elizabeth Warren's 'Ultra-Millionaire' Tax

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