Jul 18, 2019

The "Cadillac tax" looks like it's about to die

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Trump sues House Democrats to block release of state tax returns

Photo: Alex Wong/Getty Images

President Trump on Tuesday filed a lawsuit against the House Ways and Means Committee, New York Attorney General Letitia James and New York tax commissioner Michael Schmidt in an effort to block them from releasing his state tax returns.

The big picture: New York Gov. Andrew Cuomo last month signed a bill known as the TRUST Act that would permit tax officials to turn over Trump's state tax returns to any one of three congressional committees. Trump's lawsuit alleges that the House Ways and Means Committee's invocation of the TRUST Act would "lack a legitimate legislative purpose" and that the law itself violates the First Amendment because the state of New York "enacted it to discriminate and retaliate against President Trump for his speech and politics."

Go deeperArrowJul 23, 2019

Mauritius is the world's latest billion-dollar tax haven

Mauritius, an Indian Ocean isaland nation. Photo: Marka/Universal Images Group via Getty Images

Data leaked from law firm Conyers Dill & Pearman’s former Mauritius branch shows the latest tax haven scandal comes from the tiny African nation.

The big picture: Documents show firms like Sequoia Capital, a leading U.S. venture capital firm, used Mauritius to avoid U.S. and local tax collection in countries in Africa and Asia.

Go deeperArrowJul 29, 2019

Health care is gobbling up your wages

Data: Federal Reserve Bank of St. Louis, Kaiser Family Foundation; Chart: Chris Canipe/Axios

American incomes have barely changed over the past 20 years on an inflation-adjusted basis, and that's due in large part to the exploding costs of health coverage.

The big picture: More people are plunging deeper into debt as the costs of housing, college and consumer goods greatly outgrow their paychecks. And those paychecks have been stagnant because employers are shoveling more money toward workers' health insurance.

Go deeperArrowAug 5, 2019