AFL-CIO PRESIDENT RICHARD TRUMKA TO TAKE ON TRUMP. Presidential candidate Donald Trump has become a nearly untouchable force in the presidential race this year but Richard Trumka, the president of the country’s largest labor union, has a plan that he thinks will derail Trump. Power Post has more:
Trumka has an anti-Trump plan, the first parts of which will roll out next week: educate voters about what he says is Trump’s history of anti-worker, anti-union policies. That campaign — on which he would not put a price tag, but unions spent more than $9.3 million in the 2012 presidential race — will eventually evolve into uniting labor voters behind a Democratic candidate.
The campaign will be focused on grassroots contact with union members and potential Democrats to argue that Trump wants to cut workers’ wages and that his immigration and unionization policies would leave them worse off than they are today. Trumka said unions plans to work directly with grassroots groups, like the growing movement for a $15 minimum wage, that have already had success driving people to rally and vote.
“We’ll have literally millions of phone calls, leaflets, door knocks, rallies and seminars,” Trumka said.
CLINTON’S EYE TURNS TOWARD CORPORATE TAX AVOIDANCE. Democratic presidential candidate Hillary Clinton wants to crack down on corporations that try to avoid U.S. taxes by buying a foreign competitor and moving their tax base overseas. The move, known as a corporate inversion, has been in the news occasionally over the past several years after fast-food giant Burger King bought a Canadian coffee and donut chain and moved its tax base north in 2014. Now Clinton is vowing to stop companies that were created and developed in the United States from fleeing for tax purposes. The Hill has more:
In speeches, debates and ads, the former secretary of State has pilloried the practice known as corporate inversions, arguing companies are exploiting a loophole.
“I call it a perversion, but under the tax code it’s called an inversion. And we will make you pay for that with a new exit tax,” Clinton said Friday in Detroit.
Under an inversion deal, a U.S. company merges with a foreign company and moves its official headquarters overseas, lowering its tax burden.
DONALD TRUMP’S ANNUAL INCOME STILL A MYSTERY. Donald Trump may talk about his wealth and business acumen a lot during his campaign for the GOP nomination but he still has not revealed his tax returns or details of his actual annual income. The Wall Street Journal has a look at the saga of Trump’s income and why voters may wait a long time to find out the truth.
A clue to the billionaire presidential candidate’s income appeared to emerge Tuesday, when it was reported that Mr. Trump has been collecting a New York State property tax break that was available only to people with an income under $500,000. That would imply that Mr. Trump’s income was less than half a million a year…
Tantalizing as the clue was, it was a false trail. Contacted Tuesday, the city said Mr. Trump is ineligible for the break, which has been netting him about $300 a year.