Discover and read the best of Twitter Threads about #irsfiles

Most recents (6)

Washington State enacted a 7% capital gains tax levied on annual profits in excess of $250,000, and made a *fortune*, $600m more than projected in the first year, despite a 25% drop in the stock market and blistering #InterestRate hikes:

theurbanist.org/2023/06/01/les…

1/ The Washington State flag; ...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/06/03/whe…

2/
Capital gains taxes are levied on "passive income" - money you get for owning stuff. The capital gains rate is *much* lower than the income tax rate - the rate you pay for *doing stuff*.

3/
Read 31 tweets
In blocking @Microsoft's acquisition of @ATVI_AB, the @CMAgovUK made history: they stepped in to prevent a convicted monopolist from seizing control over a nascent, important market (cloud gaming), ignoring MS's transparent, self-serving lies:

assets.publishing.service.gov.uk/media/644939aa…

1/ A promotional image from th...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/04/27/con…

2/
Cloud gaming isn't really a thing right now, but it *might* be. That was Microsoft's bet, anyway, as it plonked down $69b for Activision-Blizzard - a company that shouldn't exist, having been formed out of a string of grossly anticompetitive mergers that were waved through.

3/
Read 39 tweets
With the #IRSFiles, @propublica ripped away the veil of performative complexity disguising the scams that the ultra-rich use to amass billions and billions (and billions and billions) of dollars, paying next to no tax, or even no tax at all.

1/ A dilapidated shack. A sign...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/04/24/tax…

2/
Each scam is its own little shell game, a set of semantic and accounting tricks used to gussy up otherwise banal rip-offs. The finance sector has a cute name for this kind of complexity: #MEGO, which stands for "#MyEyesGlazeOver."

3/
Read 67 tweets
Every year, Americans spend billions on #TaxPrep services, paying a heavily concentrated industry of giant, wildly profitable firms to send the #IRS information it already has. 1/ An ogrish, tophatted, cigar-chomping giant holds the US Capi
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/02/20/tur… 2/
Despite the fact that most other rich countries have a far more efficient process, many Americans believe that adopting this process here is either impossible, immoral, or both. 3/
Read 39 tweets
Yesterday, Congress finally passed the must-pass, end-of-year budget bill. As usual, the bill was stalled to the last moment, so Congressjerks could cram the 4,000-page, $1.7 trillion package with special favors for their donors, at the expense of the rest of the country. 1/ A living room scene, featuring a sofa in the background and
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2022/12/22/mus… 2/
This year's package included a pair of especially egregious doozies, which were reported out for @TheProspect by @leee_harris ( a grotesque retirement giveaway for the ultra-rich) and @dorajfacundo ( a safety giveaway to @Boeing and its lethal fleet of #737Max aircraft). 3/
Read 37 tweets
It's hard not to feel powerless. The rich are getting richer, the middle class is disappearing, and poor people are evermore exposed to labor abuses, predatory finance, police violence, and food-, fuel- and housing-insecurity. 1/ A mountain village that is being trampled under the feet of
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2022/07/07/col… 2/
Our cities are increasingly segregated into the haves and have-nots, and the haves hoard the parks, schools and clean air:

nytimes.com/2022/07/06/us/…

The rich don't just own all the good stuff, they also own the political process. 3/
Read 61 tweets

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