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    treasury

    Elon Musk

    'It's a Coup': Musk's DOGE Granted Access to Treasury System That Pays Out Social Security

    "I can think of no good reason why political operators who have demonstrated a blatant disregard for the law would need access to these sensitive, mission-critical systems," Sen. Ron Wyden said.

    Olivia Rosane
    Feb 02, 2025

    Elon Musk and his team at the Department of Government Efficiency—or DOGE—have been granted access to a sensitive Treasury Department payment system that contains the personal information of every American who receives tax refunds, Medicare, Social Security, and other payments from the government.

    Newly approved Treasury Secretary Scott Bessent gave Musk surrogates access to the system late on Friday, five people familiar with the situation toldThe New York Times. Bessent's decision came the same day as news that David Lebryk, a career Treasury official who was acting secretary before Bessent's confirmation, would step down after arguing with DOGE members over access to the system run by the Bureau of Fiscal Service that pays out over $6 trillion a year.

    Keep ReadingShow Less
    News
    elon musk
    A person holds a Tax The Rich sign at a June 27, 2020 protest march on the Brooklyn Bridge in New York City.

    Honest Math Shows That the Wealthy Aren’t Paying Their Fair Share

    For taxing the rich, we currently rely on an income tax based on adjusted gross income as our primary vehicle. That isn’t working.

    Bob Lord
    Dec 03, 2024

    The Washington, D.C.-based Tax Foundation has long functioned as an apologist for America’s deepest pockets. Analysts at the foundation have spent years assuring us that our wealthiest are paying far more than their fair tax share—in the face of a reality that has our richest aggressively growing their share of the wealth all Americans are creating.

    This past August, the Biden administration’s Treasury Department commissioned a new study that documented just how little of their wealth America’s richest are actually paying in taxes. Last month, the Tax Foundation responded with a predictable critique. Our super rich, insists this new Tax Foundation analysis, are still today paying “super amounts of taxes.”

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    Opinion
    tax the rich
    Donald Trump, Paul Ryan, Mike Pence, Mitch McConnell celebrating tax cut passage in 2017

    $10 Trillion in Added US Debt Since 2001 Shows 'Bush and Trump Tax Cuts Broke Our Modern Tax Structure'

    "In their blind loyalty to their mega-donors, Republicans' fixation on giant tax cuts for billionaires has created a revenue problem that is driving up our national debt," said Sen. Sheldon Whitehouse in response to new Treasury Department figures.

    Jon Queally
    Oct 21, 2023

    The U.S. Treasury Department on Friday released new figures related to the 2023 budget that showed a troubling drop in the nation's tax revenue compared to GDP—a measure which fell to 16.5% despite a growing economy—and an annual deficit increase that essentially doubled from the previous year.

    "After record U.S. government spending in 2020 and 2021" due to programs related to the economic fallout from the Covid-19 crisis, the Washington Postreports, "the deficit dropped from close to $3 trillion to close to $1 trillion in 2022. But rather than continue to fall to its pre-pandemic levels, the deficit unexpectedly jumped this year to roughly $2 trillion."

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    News
    trump tax cuts

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    Big Brother Trump Is Watching You

    Mike Lee Tries to Sneak Public Land Sale Back Into 'Big, Ugly Bill' Ahead of Senate Vote

    'Just Killed, for Nothing': Israeli Troops Say They Were Ordered to Shoot Aid-Seeking Gaza Civilians

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