Judd Legum

Judd Legum @JuddLegum

8. "Imagine a taxpayer who reports $10,000 of income; but has $10 million of flows in and out of their bank account. Having this summary information will help flag for the IRS when high-income people under-report their income" https://t.co/GxkMOOXmKF — PolitiTweet.org

Judd Legum @JuddLegum

7. This proposal would partially level the playing field and make it more difficult for the wealthy to avoid paying their taxes. Banks would only report the AGGREGATE deposits and withdrawals over a year to the IRS. https://t.co/GxkMOOXmKF — PolitiTweet.org

Judd Legum @JuddLegum

6. Bank lobbyists, the right-wing media, and Republicans in Congress are spinning this as a gross violation of privacy. Keep in mind, wage-earners already have their EXACT INCOME reported to the IRS https://t.co/GxkMOOXmKF — PolitiTweet.org

Judd Legum @JuddLegum

5. The Biden administration is proposing a simple fix to catch wealthy tax cheats. It would require banks to report to the IRS accounts with more than $10,000 annually in deposits and withdrawals. https://t.co/GxkMOOXmKF — PolitiTweet.org

Judd Legum @JuddLegum

4. The wealthiest 1% of American taxpayers are "are hiding more than 20 percent of their earnings." This adds up to an estimated $160 BILLION of unpaid taxes each year. https://t.co/GxkMOPeY9f — PolitiTweet.org

Judd Legum @JuddLegum

3. Often the IRS receives no information about the income of the wealthiest Americans, apart from what they voluntarily report to the government Surprise! Many of them are cheating on their taxes https://t.co/GxkMOPeY9f — PolitiTweet.org

Judd Legum @JuddLegum

2. Right now there are two sets of rules. If you earn income via wages from an employer, the IRS knows EXACTLY how much you earn. Your employer reports it to the IRS. But the income of wealthy investors and business owners is completely opaque https://t.co/GxkMOOXmKF — PolitiTweet.org

Judd Legum @JuddLegum

1. Banks are engaged in a multi-million dollar lobbying campaign to protect wealthy tax cheats https://t.co/GxkMOPeY9f — PolitiTweet.org

Judd Legum @JuddLegum

Is that true? — PolitiTweet.org

Judd Legum @JuddLegum

Working on tomorrow's newsletter outside a coffee shop and a woman passed by me and said: "Don't think about it so hard. It'll come to you." — PolitiTweet.org

Judd Legum @JuddLegum

Many people have realized that instead of defending your views on the substance you can just claim you are “under attack” — PolitiTweet.org

Judd Legum @JuddLegum

6. In this case, knowledge is power. The lobbyists are counting on the public not knowing about or caring about the issue. That will make it easier for them to convince Congress to do their bidding. https://t.co/A2tJxyIil1 — PolitiTweet.org

Judd Legum @JuddLegum

5. But we aren't out of the woods yet. Corporate lobbyists and others will have another bite at the apple when this bill is folded into an omnibus spending bill in December They will be pushing for the rider to be re-added https://t.co/A2tJxyIil1 — PolitiTweet.org

Judd Legum @JuddLegum

4. The good news is that the Senate and House have released appropriations bills for the SEC that removes the rider and creates a path for the SEC to require corporate disclosure of political spending Could be a game-changer https://t.co/A2tJxyIil1 — PolitiTweet.org

Judd Legum @JuddLegum

3. 12 yrs ago the SEC began considering creating a rule which would require all public companies to disclose their political spending. But then Obama appointed an SEC commissioner who opposed the rule. And then the GOP added a budget rider blocking it https://t.co/A2tJxyIil1 — PolitiTweet.org

Judd Legum @JuddLegum

2. The reality is that in the United States most political spending is secret. We know about PAC money to candidates but donations to trade organizations and advocacy groups remain secret absent voluntary disclosure. And most companies don't disclose. https://t.co/A2tJxyIil1 — PolitiTweet.org

Judd Legum @JuddLegum

1. SOME GOOD NEWS Congress has quietly taken a small step toward creating a lot more transparency in corporate political spending. Follow along for details. https://t.co/A2tJxyIil1 — PolitiTweet.org

Judd Legum @JuddLegum

@CaseyNewton I feel like these tech events were genuinely exciting for a few months around 2007 or whenever they intro’d the iPhone and now it’s a dozen years later and people are still covering all these product launches even though there is absolutely no news — PolitiTweet.org

Judd Legum @JuddLegum

RT @JuddLegum: 1. The "grassroots" parent uprising in Virginia is supported by dark money groups connected to the Koch political network an… — PolitiTweet.org

Judd Legum @JuddLegum

@DefendingEd UPDATE: We've moved on from *suggesting* I'm racist. Now I'm engaging in "racist character assassination." It seems the issue is that I used the term "dark money," which refers to money that is not disclosed. Like the money funding @DefendingEd https://t.co/0tXIzHwHWc — PolitiTweet.org

Judd Legum @JuddLegum

@AsraNomani @HarryJ4Justice @StacyLangton Do you think the term "dark money" is racist? — PolitiTweet.org

Judd Legum @JuddLegum

If this keeps up, next thing you know Simmons will be passing up wide-open dunks in games. — PolitiTweet.org

Judd Legum @JuddLegum

@StacyLangton @HarryJ4Justice @AsraNomani @allinwithchris @TerryMcAuliffe @GlennYoungkin @DefendingEd @coalitionforTJ @MSNBC @fcpsnews @SebGorka Both books received the "Alex Award" from the American Library Association which is awarded annually to "ten books written for adults that have special appeal to young adults ages 12 through 18." https://t.co/v7ZTL0JITV https://t.co/GEsh8tggaI — PolitiTweet.org

Judd Legum @JuddLegum

@StacyLangton @HarryJ4Justice @AsraNomani @allinwithchris @TerryMcAuliffe @GlennYoungkin @DefendingEd @coalitionforTJ @MSNBC @fcpsnews I’ve never claimed, on MSNBC or elsewhere, that you were a paid operative. I mentioned that your speech was used by advocacy groups, which is true. — PolitiTweet.org

Judd Legum @JuddLegum

A week after Greg Abbott signed a bill banning nearly all abortions, @Walmart donated 10K to his reelection campaign https://t.co/dOOwS4zrXV — PolitiTweet.org

Judd Legum @JuddLegum

A TIP: BELIEVE JOE MANCHIN WHEN HE SPEAKS* *PRESENTED BY EXXONMOBIL https://t.co/b9ZWLXdNjo — PolitiTweet.org

Judd Legum @JuddLegum

UPDATE: In an ironic twist, staff members of the Koch-linked dark money group @DefendingEd, a group focused on fighting "Critical Race Theory" in schools, suggest that my entirely accurate reporting about their group is racist https://t.co/iQB03m4s8a https://t.co/RrWOFQ6yKF — PolitiTweet.org

Judd Legum @JuddLegum

@HarryJ4Justice @AsraNomani @allinwithchris @TerryMcAuliffe @GlennYoungkin @StacyLangton @DefendingEd @coalitionforTJ So PDE doesn't have anything to do with "parental activism" now? It's stated purpose is to "build a grassroots army of parents" In any event, my reporting was accurate. — PolitiTweet.org

Judd Legum @JuddLegum

@HarryJ4Justice @abcn @AsraNomani @allinwithchris @TerryMcAuliffe @GlennYoungkin @StacyLangton @DefendingEd @coalitionforTJ Your position was “announced” after my reporting on 10/18. I don’t think reporting the fact that you were appearing on TV without disclosing your position at @DefendingEd is racist, but you are free to have your own views. — PolitiTweet.org

Judd Legum @JuddLegum

@HarryJ4Justice @AsraNomani @allinwithchris @TerryMcAuliffe @GlennYoungkin @StacyLangton @DefendingEd @coalitionforTJ None of my claims were false. Are you claiming there are no paid advocates involved in this effort? Does @DefendingEd not have paid staff? — PolitiTweet.org