Questions Grow Over Mystery Of Missing Legislative Branch

A president using the IRS and DOJ to protect himself and funnel money to political allies is the kind of corruption democracies are supposed to guard against, not normalize. Our Fellow @bdgesq.bsky.social rightly sounds the alarm:

The facts: -Bezos paid $0 fed'l income tax in 2007 -He paid $0 in '11 -Btn '14-19, his wealth grew by $99 BILLION and he paid $973 million in taxes. Sounds like a lot but it's 0.98% of his wealth growth (which is his true income). www.propublica.org/article/the-...

This is totally bananas but calling it that is an insult to banana republics bsky.app/profile/josh...

Our @factcoalition.bsky.social letter in @taxnotes.com clears the air on our recent analysis and its unmistakable conclusion that many big US companies are slashing their taxes through offshore tax structures, and current US rules aren’t doing much to stop them. www.taxnotes.com/tax-notes-to...

What international tax dodging costs the world: "Every dollar shifted offshore is a hospital unfunded, a classroom without a teacher, a bus network barely built."

Far from impeding economic growth, taxes fund the public services that make a state more attractive to businesses. Investing in schools, roads, and hospitals can be a better approach than tax cuts to help a community prosper. itep.org/do-tax-cuts-...

My oped: the Iran war gasoline price hikes are walloping the working class in the United States. As summer driving season begins, US consumers are paying huge sums for a war that most of them didn't want. 🛢️ www.nytimes.com/2026/05/14/o...

Smart and important new work from @itep.org 👏

Lots of Americans are concerned about what AI means for their jobs. So what did Trump do? He gave Big Tech companies billions of dollars in tax handouts to subsidize some of the richest companies in the world.

A full decade after #PanamaPapers, offshore shenanigans live on, but so does our fight against shell companies and tax havens @factcoalition.bsky.social And investigative journalism also lives on, check out this great work from @bobbyallyn.bsky.social NPR:

Donald Trump, our climate president!

I recommend this excellent @bloombergtax.com podcast for anyone who wants to get up to speed on where things stand on corporate tax transparency: news.bloombergtax.com/daily-tax-re...

Happy International Workers Day #MayDay Solidarity and gratitude to our @factcoalition.bsky.social coalition labor members @aflcio.org @afscme.bsky.social @seiu.org

Do you know a DC-based Operations Manager who would like to put their skills toward taxing the rich alongside our smart, congenial team? Send ‘em our way, we’re hiring!

Nice summary of global oil windfall tax debates by @patcohen.bsky.social I'll add: record profits of American oil companies will be barely taxed at home. Last year, Exxon paid 5x more tax to UAE than to US government, where its effective tax rate was below 3%. thefactcoalition.org/oil-and-gas-...

We’re told billionaires will flee if we tax them. But Nvidia CEO Jensen Huang—worth over $150 billion—says even the “highest taxes in the world” are fine with him. Why? Because talent, opportunity, and community matter more than tax rates. fortune.com/2026/04/23/j...

Instead of these divisive tax cut proposals, let's all agree to tax the big corporations that profit at everyone's expense. Right now, Americans are paying too much for gas & medicine, while oil & pharma profits are barely taxed, as I explained in Congress last week: bsky.app/profile/fact...

"While US politicians routinely condemn financial secrecy in distant lands, they ignore the uncomfortable truth: when it comes to hiding dirty money, Delaware and Nevada are not much better than Panama." A timely warning, 10 years after #PanamaPapers

US tax rules are indeed weaker than the global standard, as I said at the EU tax symposium last month. That costs the US government, but I'm not sure it's a key competitive advantage; non-tax factors matter more. Restarting the global tax race to the bottom would be a costly mistake for everyone.

Powerful anti-corruption message from @ossoff.bsky.social To add insult to injury: Big Pharma' giant profits from ripping off Americans go largely untaxed because Congress lets drug companies park their profits in offshore tax havens. We can fix this! As I told members of Congress last week:

Let’s state the obvious: The government will not convict Comey. It also likely will not convict the SPLC. The teeth of these indictments are *financial* — imposing so much cost + reputational harm that these “enemies” of the Trump admin are forever weakened. And that others like them are cowed.

Thanks to @icij.org for covering my Congressional testimony last week about the tax haven games played by Merck and other pharma companies.

Great deep dive by @tombergin.bsky.social on Tesla's questionable international tax practices. I'll add: while Tesla has found a way to shortchange the US, they are paying 27 times more tax to China than to the US government! America-first, or China-first?

Yes, we can, and we should, tax corporations more, way more! The revenue-maximizing corporate tax rate is at least 70%, which is more than THREE TIMES higher than the current US corporate tax rate. Source: literature review by the Congressional Research Service.

88 corporations paid $0 in federal income tax for 2025. Some of these companies want to distract you with other taxes they paid, but that doesn't change the fact that their $0 federal income tax bill is disclosed right in their own financial reports. itep.org/88-corporati...

ICRICT calls on governments to tax oil & gas windfall profits from the war against Iran — now. "These companies didn't do anything to deserve these profits." — as @josephestiglitz.bsky.social explains to @afp.com. 👉 #ICRICT statement: www.icrict.com/internationa...

"There could be no greater gift to the fentanyl traffickers, fraudsters, and U.S. adversaries that rely on the anonymity that shell companies provide than gutting the Corporate Transparency Act." Erica Hanichak, @factcoalition.bsky.social

"Trump promised to drain the swamp, but under his rule the swamp drains you." Excellent @pkrugman.bsky.social on "Grand Theft Autocracy" lessons from Hungary to America: paulkrugman.substack.com/p/autocracy-...

Tax cuts as populist politics? Many Republicans and now even some Democrats think so, but they're wrong. In reality, inflation always trumps taxes, and Republicans are learning that the hard way. Great article in @taxnotes.com www.taxnotes.com/tax-notes-to...

Thanks to Rep. Brad Sherman for his spirited defense of the Corporate Transparency Act at today's HFSC markup, and for shouting out FACT's role in advancing this critical law. As Rep Sherman says, H.R. 425's repeal of the CTA would be a gift to scammers and fraudsters.

The current corporate tax code that encourages offshore tax avoidance isn't "America-first," it's "Corporations-first, Americans-last" FACT policy director @zorkamilin.bsky.social speaking now at @usprogressives.bsky.social 's shadow hearing on tax policy reforms to end corporate greed.

Prof. Zucman is best known for his billionaire tax proposal, but he's also brilliant on taxing wartime windfall profits. Check it out:

Great deep dive by @tombergin.bsky.social on Tesla's questionable international tax practices. I'll add: while Tesla has found a way to shortchange the US, they are paying 27 times more tax to China than to the US government! America-first? Or China-first?

Self-serving Tax Day op-ed by Jeff Bezos-owned WaPo parrots a familiar line we hear from tax-dodging companies: "we're just following the law." What they don't tell you: all too often, they ghostwrite the tax law. Memo to @washingtonpost.com: less tax punditry and more smart tax reporting, please!

Congressional tax hearing tomorrow morning with @usprogressives.bsky.social task force You'll hear @elizabethwwilkins.bsky.social (@rooseveltinstitute.org) @kristencrowell.bsky.social (@fobaction.bsky.social) @chusak.bsky.social (@americanprogress.bsky.social) Liz Watson (@afscme.bsky.social) + me

Catching up on Tax Day content from last week: this conversation is the best thing. It will make you smarter, even if you're a tax nerd. Great job covering individual taxes, and I’d love to see a follow-up on business taxes (Tax Day 2027?)

Don’t like paying taxes? Have you considered being an oil company? They get to opt out. www.politico.com/news/2026/04...

Windfall profits taxes on specific sectors are economically sound, morally imperative, and we've already had such taxes in the US during the Korean War, and in Europe after Russia's invasion of Ukraine. Let's bring them back as @whitehouse.senate.gov and @khanna.house.gov have proposed.

Raising US corporate taxes will improve, not harm, the dynamism of the American economy, because more than 3/4 of those profits have historically been excess returns. Most recently: $1.76T in 2022, same as fed spending on Medicare + Medicaid! Great new research by @nacho2g.bsky.social

Happy Tax Day, fellow Americans! America lets billionaires dodge taxes through offshore bank accounts. Of 164 noncompliant taxpayers with an average unreported foreign account balance of $1.3 billion, only 12 were examined, and only 5 were assessed $39.7 million in additional tax + $80k in penalties

Forget Switzerland: The US is now the No. 1 place to hide your money. This week on Reveal, we investigate how some US states are locked in a race to become the world’s biggest tax haven.

US stance on global taxes affects the world, and affects the US itself. When the US doesn’t participate in international tax cooperation, there is a cost to US revenues. Great point by Jayati Ghosh @icrict.bsky.social at the @patrioticmillionaires.org conference just now

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Yes, and much of these windfall profits will go to American oil companies, which are barely taxed at home, thanks to generous tax subsidies. Exxon's current US effective tax rate on 2025 domestic profits is 2.6% which is way below the official 21% corporate tax rate.

We should be strengthening corporate tax! It corrects for how our tax system overtaxes labor and undertaxes capital, and it's one of the few backstops to ensure that superrich oligarchs (like WaPo owner Jeff Bezos) somehow contribute to public revenues. www.washingtonpost.com/podcasts/imp...

"Amid skyrocketing oil prices and concerns about ordinary Americans subsidizing Big Oil’s expected super profits at the pump, new disclosures show how the U.S. continues to inadequately tax its oil majors." @factcoalition.bsky.social @zorkamilin.bsky.social thefactcoalition.org/oil-and-gas-...

"This isn’t just about clever accounting — it's about power and impunity. When millionaires and billionaires stash trillions of dollars in offshore tax havens, they place themselves above the obligations that bind the rest of society." Christian Hallum, @oxfaminternational.bsky.social

"The simple fact is this: there is no democracy without taxation. It is no coincidence that the strongest democracies, internationally, are also the highest-tax countries in the world. Free countries are high-tax countries." @vanessawilliamson.bsky.social

America's tax code is tilted to big multinational corporations - and domestic small businesses know it. That's why they overwhelmingly support closing corporate loopholes like the egregious one that lets big pharma "round-trip" their profits from US sales via offshore tax havens.