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Eric Trump on new NYT analysis of father’s taxes: ‘My father has lost a fortune’

Eric Trump on new NYT analysis of father’s taxes: ‘My father has lost a fortune’

Eric TrumpEric Frederick TrumpSunday shows preview: Trump, top Republicans recover from COVID-19; stimulus bill remains in limbo Eric Trump claims his father ‘literally saved Christianity’ Eric Trump suggests clear podiums for presidential debates to avoid notes MORE defended his father’s business dealings in response a New York Times article published on Saturday that unveiled reported White House favoritism toward hundreds of companies, lobbying groups and foreign leaders who stayed at President TrumpDonald John TrumpNorth Korea unveils large intercontinental ballistic missile at military parade Trump no longer considered a risk to transmit COVID-19, doctor says New ad from Trump campaign features Fauci MORE‘s commercial properties.

The newspaper reported that the president used his political position to create new, more lucrative forms of income through his hotels and golf courses.

“We’ve lost a fortune. My father has lost a fortune running for president. He doesn’t care. He wanted to do what was right. The last thing I can tell you Donald Trump needs in the world is this job. He wakes up in the morning, and he has to fight you, and he has to fight the entire media. He has to fight the Democrats, and he gets punched in the head every single day,” Eric Trump told Jonathan Karl of ABC’s “This Week.”

Karl quickly interjected, asking for a response that directly addressed the claims made by the Times. Eric Trump instead called into question former Vice President Joe BidenJoe BidenDemocratic poll shows neck-and-neck race brewing

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Analysis: Biden’s first step on taxes may be cracking down on cheats, Democrats say

Analysis: Biden’s first step on taxes may be cracking down on cheats, Democrats say

WASHINGTON (Reuters) – Joe Biden will reverse Republican tax cuts for the wealthy and corporations on “day one” if he wins November’s election, his Democratic running mate, Senator Kamala Harris, vowed during Wednesday night’s vice-presidential debate.

U.S. Democratic presidential candidate Joe Biden departs Phoenix, Arizona, U.S., October 9, 2020. REUTERS/Kevin Lamarque

Other Democrats in Washington, however, say that timing looks overly ambitious. A new Biden administration, which would be inaugurated on Jan. 20, 2021, would likely face a still-raging coronavirus pandemic and an economy deep in recession.

His first step on taxes could be a more straightforward one, say some Democrats, including Biden advisers: beefing up Internal Revenue Service (IRS) enforcement to go after wealthy tax cheats who cost the United States hundreds of billions of dollars in revenue every year.

Tackling major tax reform, and particularly repealing the 2017 Tax Cuts and Jobs act, a signature Trump policy that reduced corporate taxes, depends on multiple factors, said Jared Bernstein, Biden’s chief economist as vice president, who now serves as an external adviser to his campaign.

“I don’t think there’s any way to zero in on the timing at this point,” he said in an interview days before the vice presidential debate. “There’s a lot that has to be dealt with between now and then, including winning,” said Bernstein.

He and other prominent Democrats, however, are happy to talk in detail about what they say is a need for much stronger enforcement at the IRS, which has suffered a decade of budget cuts and hiring freezes imposed by Republicans in Congress.

Bernstein said Biden would seek “significant increases in IRS enforcement and auditing, particularly for those with complex business structures” like Trump.

Senator Maggie Hassan, a senior Democrat on the tax-writing Senate Finance Committee, said at a subcommittee hearing on

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Biden’s first step on taxes may be cracking down on cheats, Democrats say

Biden’s first step on taxes may be cracking down on cheats, Democrats say

By David Lawder

WASHINGTON (Reuters) – Joe Biden will reverse Republican tax cuts for the wealthy and corporations on “day one” if he wins November’s election, his Democratic running mate, Senator Kamala Harris, vowed during Wednesday night’s vice-presidential debate.

Other Democrats in Washington, however, say that timing looks overly ambitious. A new Biden administration, which would be inaugurated on Jan. 20, 2021, would likely face a still-raging coronavirus pandemic and an economy deep in recession.

His first step on taxes could be a more straightforward one, say some Democrats, including Biden advisers: beefing up Internal Revenue Service (IRS) enforcement to go after wealthy tax cheats who cost the United States hundreds of billions of dollars in revenue every year.

Tackling major tax reform, and particularly repealing the 2017 Tax Cuts and Jobs act, a signature Trump policy that reduced corporate taxes, depends on multiple factors, said Jared Bernstein, Biden’s chief economist as vice president, who now serves as an external adviser to his campaign.

“I don’t think there’s any way to zero in on the timing at this point,” he said in an interview days before the vice presidential debate. “There’s a lot that has to be dealt with between now and then, including winning,” said Bernstein.

He and other prominent Democrats, however, are happy to talk in detail about what they say is a need for much stronger enforcement at the IRS, which has suffered a decade of budget cuts and hiring freezes imposed by Republicans in Congress.

Bernstein said Biden would seek “significant increases in IRS enforcement and auditing, particularly for those with complex business structures” like Trump.

Senator Maggie Hassan, a senior Democrat on the tax-writing Senate Finance Committee, said at a subcommittee hearing on Wednesday that her top fiscal priority was new coronavirus aid to households

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