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How the proposed billionaires’ income tax would work

October 28, 2021 by WDNY Radio

(WASHINGTON) — A proposal to levy a new tax code on America’s ultra-wealthy has sent shockwaves through the nation’s capital and beyond on Wednesday, as lawmakers struggle to reach an agreement over how to pay for President Joe Biden’s trillion-dollar Build Back Better initiative.

Senate Finance Committee Chairman Ron Wyden, D-Ore., on Wednesday morning unveiled a scheme dubbed the “Billionaires Income Tax,” which would tax capital gains on the unsold assets of billionaires — such as stocks — and significantly impact some of the nation’s wealthiest people, such as Amazon founder Jeff Bezos and Tesla CEO Elon Musk. Musk, whose net worth is currently $287 billion per Bloomberg’s real-time data on billionaires, signaled on Twitter that he opposes the proposal.

“Eventually, they run out of other people’s money and then they come for you,” Musk wrote in response to a tweet featuring a templated letter opponents can send to their congressperson. The letter says that although holdings in 401(k) plans are excluded, the proposal takes tax hikes “a step closer to imposing unrealized capital gains tax on the average investor.”

As the wealthiest man in the world, however, Musk is far from the average investor, and has seen his net worth increase by some $117 billion in 2021 alone, per Bloomberg’s count.

While the proposal has garnered backing from the White House, it has already divided Washington, with some critics calling it unconstitutional, convoluted or unfairly targeting a specific group of people who have contributed to America’s economic growth.

Wyden and proponents, meanwhile, say it will help ensure the billionaires pay their fair share of taxes after reports that some of the richest 1% of Americans have legally avoided paying taxes on their wealth gains despite their net worths increasing dramatically — and at a time of massive wealth inequality in the U.S. that experts have said is exacerbated by America’s tax codes being tilted in favor of the wealthy.

Though it currently faces an uphill battle in implementation, here is what to know about the proposed billionaires’ income tax.

Who would be hit with the new tax?

The new tax would apply to roughly 700 taxpayers, according to a statement from Wyden’s office, or those with more than $100 million in annual income or more than $1 billion in assets for three consecutive years. With a population of 328 million, this means the new tax would impact less than 0.001% of Americans.

The wealth of billionaires tends to be more tied up in stocks compared to working-class Americans. The wealthiest 1% of households in the U.S. own more than half of all the publicly traded stock in the market, according to Federal Reserve data, and the bottom 50% own less than 1%.

Recent investigative reports, including a bombshell leak of tax documents to the nonprofit news organization ProPublica earlier this year, have found that the ultra-wealthy use legal loopholes to avoid paying taxes on their wealth gains — such as keeping their reported income, and thus income taxes, to just a fraction of what their net worth actually is. Musk, for example, earned a base salary of $0 at Tesla in 2020, according to SEC filings.

The ProPublica report found that while the median American household paid 14% of their income in federal taxes, the wealthiest 25 Americans had an average so-called “true tax rate” of 3.4% of the amount their wealth grew each year between 2014 and 2018.

Wyden alluded to this divide, saying that the Billionaires Income Tax would ensure “billionaires pay tax every year, just like working Americans.”

“There are two tax codes in America,” Wyden said in a statement accompanying his proposal on Wednesday. “The first is mandatory for workers who pay taxes out of every pay check. The second is voluntary for billionaires who defer paying taxes for years, if not indefinitely.”

How does it work?

Under current tax codes, if the value of stocks rises it can lead to swift, multimillion dollar gains in the net worth of the nation’s wealthiest individuals — but they don’t have to pay taxes on these wealth gains unless they sell the stocks.

Wyden’s proposal would ask billionaires to pay an annual tax on gains or take deductions for losses whether they sell the stocks or not.

“The way the system works today is that if you make a profit on assets that you hold, they’re worth more at the end of the year than the beginning. You don’t pay tax unless you sell those assets,” Howard Gleckman, a senior fellow in the Urban-Brookings Tax Policy Center, told ABC News on Wednesday.

“There are trillions of dollars in increased value of assets that simply go untaxed,” Gleckman added. “And that is one big reason for the income inequality, and the fact that the rich have gotten so much richer.”

Non-tradable assets like real estate or business interests would not be taxed annually, but when billionaires sell or transfer these non-tradable assets, they would pay a capital gains tax in addition to an interest charge that Wyden’s office labels as akin to interest charged on deferred tax.

The interest charge — or “deferral recapture amount,” as Wyden is calling it, would be the amount of interest that would be due on tax owed if the asset had been marked to market each year and the tax had been deferred until sale. The interest rate applied would be 1.22%, per Wyden’s office, or the applicable federal short term rate (currently 0.22%) plus one percentage point.

The proposal contains rules to help smooth the transition, such as being able to treat up to $1 billion of tradable stock in a single corporation as a non-tradable asset. It would also let billionaires elect to pay tax over five years the first time the billionaires’ tradable assets are marked to market.

The full, 107-page text of the tax proposal can be found here.

Gleckman said he sees potential issues arising if a major asset goes down in value and are calculated as losses by billionaires, and because of the potential for confusion over the valuation of privately held, non-tradable assets.

“The bottom line, the 30,000-foot level, this is a very interesting idea but it is very hard to administer,” Gleckman said. “This is not a wealth tax, but it has some of the common administrative problems of a wealth tax — the biggest being it’s hard to value the assets of rich people.”

Is it constitutional?

A legal challenge likely looms if the proposal is enacted, and critics have already questioned the constitutionality of taxing unrealized or unsold capital gains.

Under current law, the government has the power to tax “income” due to the 16th Amendment, but new wealth gains are only classified as income when they are realized or sold, not simply held. The Supreme Court in 1920 ruled that stock dividends did not become taxable as income until they were sold or converted.

This definition of income has benefits to working- and middle-class Americans, as they do not have to pay taxes on retirement savings such as their 401(k)s when they increase in value until they cash out.

White House press secretary Jen Psaki, however, signaled that they believe the new tax has legal footing.

When asked about the questionable constitutionality of the tax, Psaki said, “We’re not going to support anything we don’t think is legal.”

“The president supports the billionaire tax,” she added. “He looks forward to working with Congress and Chairman Wyden to make sure the highest income Americans pay their fair share.”

In a statement to ABC News, Wyden defended his proposal from critics, saying, “Entire sections of the tax code are unconstitutional if this is unconstitutional.”

“I can’t imagine the Supreme Court wants to give the wealthiest people on earth billions in tax cuts, particularly at a time when so many Americans are losing faith in the Supreme Court,” he added.

Eric Garner’s mother speaks out on first days of NYPD judicial inquiry

October 27, 2021 by WDNY Radio

(NEW YORK) — Petitioners in the judicial inquiry over the death of Eric Garner, who was killed by NYPD officers during an arrest for the alleged selling of untaxed cigarettes, are speaking out as the proceedings continue.

The petitioners represent leaders of the community fighting against racial injustice, including Garner’s mother, Gwen Carr. Together, they hope that the line of questioning will offer more insight and transparency into the fatal 2014 incident.

In a video conference with reporters, the petitioners called for the firing of officers involved in the incident who are testifying.

“I am sick and tired of listening to the lies,” Carr said. “These officers should not be on the force. They should have been fired immediately.”

The unique proceeding is hosting 13 NYPD officers and sergeants, who are testifying on the events surrounding Garner’s arrest, death and the alleged leak of several documents related to Garner and the incident. It will not result in any charges for those involved or any legal rulings.

On July 17, 2014, Garner was suspected by NYPD police officers Daniel Pantaleo and Justin D’Amico of selling untaxed cigarettes. Garner denied the accusation, but the police then tried to arrest the 43-year-old Black man.

Pantaleo used a prohibited chokehold that has been banned by the NYPD since the 1990s on Garner in order to detain him. Garner told officers “I can’t breathe” 11 times before falling unconscious.

Garner was left lying on the sidewalk for several minutes while officers waited for an ambulance to arrive, and was declared dead at the hospital.

Pantaleo, who committed the chokehold that led to Garner’s death will not be involved in the inquiry. He was fired in 2019 following a department disciplinary trial for using a banned chokehold method. Pantaleo was not indicted in Garner’s death.

He denies any wrongdoing. Garner’s family reached a $5.9 million settlement with the city over the incident.

Christopher Bannon, who was a special operations lieutenant at the time of Garner’s death, texted shortly after the incident that Garner’s death was “not a big deal” because he believed the arrest was lawful. On Monday, Bannon further testified that he still believes the arrest was lawful.

“My son lay dead on the ground and he said it wasn’t a big deal,” Carr said. “Well, officer Bannon, it was a big deal to me. That was my son. You had no sympathy or empathy for him.”

D’Amico admitted in testimony to falsities and mistakes he made when filing the initial incident report in his testimony; he claimed that no physical force was used during Garner’s arrest, and he also charged Garner with a tax-avoidance felony.

Garner only had four sealed packs of cigarettes on him, as well as an opened fifth pack that contained 15 cigarettes, however, a felony charge usually applies only to people in possession of at least 10,000 cigarettes.

D’Amico also claimed in testimony this week that he never heard Garner say that he couldn’t breathe.

Deputy Commissioner of Internal Affairs Joseph Reznick said in testimony that the Internal Affairs Bureau did not punish or investigate D’Amico for logging the false charge or falsity in the report, nor did they investigate media leaks of Garner’s medical and arrest history.

Petitioners on the press conference detested the actions being revisited and defended by officials.

“It’s horrendous that we are seven years later and they’re continuing to lie and they’re continuing to be on the force and that the mayor and commissioner have not made any substantive changes to hold these officers responsible,” said Kesi Foster, a petitioner from social advocacy organization Make the Road New York.

Several social justice organizations have joined Carr in what she said is a fight to seek justice for her son.

“Many of these kinds of offenses should be immediately fireable offenses,” said Joo-Hyun Kang, executive director of advocacy group Communities United for Police Reform and petitioner in the case.

“When you’re really talking about trying to end or reduce police violence that cannot happen unless you reduce the outside bloated budget, the bloated size, the outsized power, and the scope of the NYPD,” she added. “We have to reduce and limit the situations where officers are interacting with New Yorkers.”

ABC News’ Aaron Katersky contributed to this report.

Garland, under GOP attack, defends memo on violent threats against school board officials

October 27, 2021 by WDNY Radio

(WASHINGTON) — A Senate hearing grew heated on Wednesday as Republicans repeatedly demanded Attorney General Merrick Garland retract and apologize for a memo he issued earlier this month aimed at addressing a rise in threats against school board officials around the country.

In an oversight hearing before the Senate Judiciary Committee, Garland defended the intent of the memo that had called for the FBI and U.S. Attorney’s Offices around the country to convene meetings with local officials to discuss strategies aimed at addressing the increase in threats.

“All it asks is for federal law enforcement to consult with, meet with local law enforcement to assess the circumstances, strategize about what may or may not be necessary, provide federal assistance if it is necessary,” Garland said.

Republicans, though, sought to characterize Garland’s directive as an order for FBI agents to investigate and pursue parents voicing concerns at school board meetings — which in recent months have been venues of intense debate over issues like policies to mitigate the spread of COVID-19 and the teaching of race issues in American history.

Garland’s initial memo followed a letter sent by the National School Board Association to the White House that had requested federal assistance in addressing threats they argued should, in some cases, be classified as acts of “domestic terrorism.”

Following widespread backlash from Republicans and several state attorneys general, the NSBA issued an apology Monday for some of the language it included in the letter.

Asked over and over by Republicans whether he regretted issuing the memo following the NSBA’s apology, Garland said he did not.

“I have the letter from NSBA that you’re referring to and it apologizes for language in the letter, but it continues its concern about the safety of school officials and school staff,” Garland said in an exchange with Sen. Chuck Grassley, R-Iowa. “The language in the letter that they disavow is language that was never included in my memo and never would have been. I did not adopt every concern that they had in their letter. I adopted only the concern about violence and threats of violence and that hasn’t changed.”

But the explanation did not stop Republicans in the more than 4-hour hearing from falsely accusing Garland of “siccing” the FBI and DOJ’s national security division on parents, as Sen. Tom Cotton, R-Ark., accused Garland of doing in one exchange.

“This is shameful, this here, this testimony, your directive, your performance is shameful,” Cotton said. “Thank God you’re not on the Supreme Court. You should resign in disgrace, judge.”

“I wish if senators were concerned about this that they would quote my words,” Garland responded. “This memorandum is not about parents being able to object in their school boards. They are protected by the First Amendment as long as there are no threats of violence, they are completely protected.”

Garland also denied suggestions from lawmakers like Republican Sen. Ben Sasse, R-Neb., that the White House effectively used him for political purposes by transmitting the NSBA’s letter to the Justice Department in order to have him take action to try and “intimidate parents.”

“Either you were just a vessel of political comms staffers at the White House or you yourself are in favor of politicizing the DOJ,” Sasse said.

“The purpose of this memorandum is to get our law enforcement to assess the extent of the problem and if there is no problem — if states and local law enforcement are capable of handling the problem, then there is no need for our involvement in it,” Garland said in response. “This memo does not say to begin prosecuting anybody. It says to make assessments. That’s what we do in the Justice Department, it has nothing to do with politics.”

Democrats in the hearing in several instances jumped to Garland’s defense, with Sen. Cory Booker, D-N.J., using time near the hearing’s close to read off a list of incidents in recent months involving harassment or threats against school board officials.

Senate Judiciary Chairman Dick Durbin, D-Illi., also admonished the GOP members of the committee for their characterization of the memo.

“I wish my colleagues would reflect for a single moment as to why that memo is important not just for school board members, but to send a message across America that there’s a line we’re going to draw when it comes to political expression,” Durbin said. “When you say words, when you wave your arms, that’s all protected. When you threaten someone with violence or engage in acts of violence that is never going to be protected and shouldn’t be.”

Iran will resume indirect talks with US to revive nuclear deal, top negotiator says

October 27, 2021 by WDNY Radio

(TEHRAN, Iran) — Iran has agreed to restart negotiations over its nuclear program next month, its chief negotiator said Wednesday.

Those talks, in which Iran and the U.S. have engaged through intermediaries, come as the Obama-era nuclear deal hangs by a thread and amid warnings about Iran’s nuclear advances since Iran halted talks in June.

It’s unclear whether an agreement has been reached to resume talks, when they would begin and whether Iran still has preconditions like sanctions relief. Iran’s top negotiator, deputy foreign minister Ali Bagheri Kani, said the “exact date will be announced next week.”

A State Department spokesperson told ABC News the administration had “seen the reports but do not have any further details about a possible return to Vienna talks in November.”

Iran had halted those talks in the Austrian capital right before its presidential election in June, saying for months now that the new administration of hardliner Ebrahim Raisi needed time to transition and formulate his team.

But during that halt, Iran has advanced its nuclear program — expanding its stockpile of enriched uranium, enriching uranium to higher levels, spinning more centrifuges and more advanced ones — alarming U.S. officials.

It has also obstructed the work of the U.N. nuclear watchdog, the International Atomic Energy Agency, or IAEA, whose chief said last week its monitoring ability is “no longer intact.”

The Biden administration has increasingly warned that while the door is still open to diplomacy, time is running out before restoring the deal would be pointless because of how advanced Iran’s nuclear program had become.

“This window will not remain open forever as Iran continues to take provocative nuclear steps, so we hope that they come to Vienna to negotiate quickly and in good faith,” the State Department spokesperson said Wednesday in a statement.

To critics, that window should have already been closed, while many analysts warned that Iran is still stalling, even as it talks about resuming negotiations.

“If they continue to stall while advancing their nuclear program, there may come a time when the U.S. or Israel turn to ‘plan B’,” tweeted Nicholas Miller, a Dartmouth College professor who researches nuclear proliferation.

The top U.S. negotiator, special envoy for Iran Rob Malley, said Monday there’s “shared impatience” with Iran among the U.S. and other negotiating parties — Russia, China, France, Germany, the United Kingdom and the European Union, which coordinated the previous six rounds of talks.

“Time is not on our side. The JCPOA cannot survive forever,” Malley added, using an acronym for the nuclear deal’s formal name.

But there’s still a “strong preference for diplomacy, for an effort to revive the JCPOA,” he said, and said there’s “willingness” and “determination” from the Biden administration to make it happen.

On Wednesday, Bagheri met with Enrique Mora, a senior European Union diplomat who had been facilitating the talks. After their “serious and constructive conversation,” Bagheri tweeted, Iran “agreed to start negotiations by the end of November.”

But his boss, Iranian Foreign Minister Hossein Amir Abdollahian, also said Wednesday that while Iran would restart talks, it would not resume them with what had been agreed upon by June — jettisoning months of previous negotiations. He also called on the U.S. to release $10 billion of Iranian funds frozen by U.S. sanctions to build confidence ahead of any agreement.

That’s a sign of how far apart the new U.S. and Iranian governments are. Even if the parties convene again in Vienna, it will be a long road ahead to revive the deal.

As Abdollahian reiterated, Iran has demanded that the U.S. lift sanctions first, since it was former President Donald Trump who first violated the deal by exiting and reimposing sanctions. But President Joe Biden has committed to not lifting any sanctions until Iran returns to compliance — what his administration calls a “mutual return” to the deal — amid continued domestic criticism of the original agreement in Washington.

In the meantime, as Iranian centrifuges continue to spin, Iran hawks in the U.S. and Israel warn that it’s too late for diplomacy and that other options, including a possible military strike, must be considered.

Secretary of State Antony Blinken has not engaged questions about a strike but told reporters two weeks ago the Biden administration was considering “every option to deal with the challenge posed by Iran.”

“We, of course, retain all other options to be able to deal with this program as necessary,” National Security Advisor Jake Sullivan said Tuesday. “But beyond that, I’m not going to comment further because we believe there still is an opportunity to resolve this diplomatically.”

Mother-daughter duos talk simultaneous breast cancer battles: ‘We lift each other’

October 27, 2021 by WDNY Radio

(NEW YORK) — Imagine being a mother who was diagnosed with breast cancer, and months later you find out your daughter was diagnosed as well. This is the reality two mother-daughter duos faced over the last year.

Sonia Jeffers and her daughter, Mysean Powell, from Savannah, Georgia, and Diana Serano and her daughter, Miriam Fajardo, from Miami, opened up on “The View” Wednesday about the unexpected journey of battling breast cancer side by side.

Dr. Elizabeth Comen, a breast oncologist from Memorial Sloan Kettering Cancer Center in New York, also joined to shed light on their situation.

“For a mother and a daughter to be diagnosed at the same time is not so common,” Comen said. “What is relatively common is for a woman who’s been diagnosed with breast cancer to have a first-degree relative, such as a mother or a sister or a daughter, who’ve been diagnosed.”

She went on to say that “between 10% to 20% of women who have been diagnosed with breast cancer do have a first-degree relative who’s had breast cancer,” and that “about 5% to 10% of those women will have inherited a known genetic mutation.”

Jeffers, a 53-year-old veteran with two daughters, went to her routine mammogram in 2020 and later received a letter saying she needed to come back to the office. After another series of tests, her doctor called to inform her that she tested positive for breast cancer.

“I just screamed at the to top my lungs, ‘No, no, no, not me,'” she said on “The View.” To make matters worse, she lost the job the same day as her diagnosis, which put a “big financial strain” on her and the family.

Because Jeffers’ diagnosis carried the BRCA2 gene, Powell and her sister had an increased risk of developing breast cancer.

With her mom pushing her to get tested, Powell went and ultimately found out that she had breast cancer. “It was scary because at 32, you don’t hear about us getting breast cancer, so I just broke down,” she said.

“To find out that my child had it, I had to make sure that she makes it through it whether I make it through it or not,” Jeffers said.

“To have someone who’s there to understand everything you’re going through — the hurt, the pain, the tiredness — it was definitely a blessing,” Powell said.

Powell began chemotherapy in October 2020. She told “The View” that young women should examine themselves monthly to check for abnormalities because “who know[s] your body better than you?”

After getting treatment, Jeffers was considered cancer-free on Oct. 19, 2020, and rang a bell to signal the end of her treatment. Nearly a year later, on Oct. 14, Jeffers’ doctor told her the breast cancer returned and metastasized to her stomach.

Her doctors now say her cancer is stage 4 terminal.

Despite the news, Jeffers’ message to those going through metastatic breast cancer is don’t give up. “Just because I have a prognosis of terminal cancer don’t mean that you have to give up on life and give into the prognosis. Fight to continue to live even though it’s terminal,” she said.

Serano is a 60-year-old mother and grandmother who also went for her routine mammogram in 2020 and everything checked out healthy. Nine months later, she felt a lump in her breast and was diagnosed with breast cancer.

“Hearing that my results were positive was a really scary feeling,” Serano said. “I was thinking about my children, my grandchildren, my mother.”

Her daughter, Fajardo, was with her when she was diagnosed. “It was very emotional, but at the same time, I was very optimistic,” she said. During her mother’s diagnosis, she also felt a lump in her breast and “decided to be an advocate” for herself and get a mammogram.

Serano knew that her daughter was at her doctor’s appointment and decided to give her a call. “When she answered the phone, all she said to me was, ‘I’m OK, mom, I’m OK.’ So right away I knew that it wasn’t OK,” she said.

Being that Fajardo is only 30 years old and her mother was diagnosed with the same type of breast cancer three months prior, she said the diagnosis came as a “huge shock” to her. “A positive mindset, it’s extremely important,” she said.

“My mother and I, we know and understand that we’re going to have bad days and that’s OK. That doesn’t mean you’re not strong,” she continued. “She lifts me and I lift her. We’re each other’s rock.”

“We lift each other,” Serano said. “On my bad day, Miriam lifts me. On Miriam’s bad day, I lift her.”

After six rounds of chemotherapy and immunotherapy, Fajardo was considered cancer-free and rang the bell in celebration.

To help with the financial struggles these women have went through during their breast cancer treatments, woman-owned company and “The View” sponsor 84 Lumber gave $25,000 each to Jeffers, Powell, Serano and Fajardo.

“It will surely help,” Jeffers said in reaction to the surprise. “We’re truly grateful.”

Spanx founder Sara Blakely gives staff $10,000, plane tickets

October 27, 2021 by WDNY Radio

Spanx founder Sara Blakely gives staff ,000, plane tickets

(NEW YORK) — Sara Blakely is probably going down as one of 2021’s best bosses ever.

The Spanx founder recently announced that she is giving the company’s employees two first-class Delta plane tickets to travel anywhere in the world.

She also gave $10,000 for them each to spend on the trip.

“I really want every employee to celebrate this moment in their own way and create a memory that will last them a lifetime,” Blakely captioned a video celebrating the moment.

Ahead of sharing the exciting news with her staff, Blakely choked up on the video as she reflected on initially writing down that Spanx, an underwear company focused on shapewear, would one day become a $20 million-dollar business.

“Everybody laughed at me, but I really believed that,” she continued.

Fast forward, a little over 20 years later and Spanx is valued at $1.2B, according to Business Wire. Global investment firm Blackstone also recently bought a majority stake in the company.

Since posting the special occasion on Instagram, it’s been viewed a million times with many comments.

“So inspired by you and what you created and the women you’ve impacted along the way Sara,” said former professional football player Lewis Howes.

Cat Oshman chimed in saying, “This had me in tears of joy. Love this so much and I admire the accomplishments + all the encouragement Sara brings to women today. Here’s to building our dreams and bringing others along the way!”

When asked where they are going to go, Spanx employees responded with destinations such as Croatia, South Africa and Antarctica.

One employee said she’d be taking her gifts to go on her honeymoon to Bora Bora while another said he would fly to Sweden and elope with his girlfriend.

“GMA” reached out to Spanx for comment.

In a previous post, Blakely opened up about the brand’s milestone in selling to Blackstone saying how proud she is.

“I’ve bootstrapped this for 21 years and I can’t wait to see what we can do for our customers with Blackstone’s full global resources behind us,” she said. “I’m eternally grateful to the customers, employees (past and present), vendors, retailers, friends and family who stood by me while I took the leap. Let today inspire all the dreamers out there who care the most.”

She continued: ” After meeting with the all-female deal team, I knew they were the right partners to grow our mission and scale our purpose. Now together with Blackstone, we will have even more opportunity to further our mission of making the world a better place… one butt at a time!”

In 2012, Blakely was named Forbes Magazines’ youngest self-made billionaire.

Today, the company offers leggings, clothing, activewear, maternity wear and more.

Manchin raises concerns over billionaires’ tax as Democrats scramble to close social spending deal

October 27, 2021 by WDNY Radio

(WASHINGTON) — Democrats on Wednesday scrambled to close the deal on President Joe Biden’s landmark social spending legislation, focusing on new ways to pay for the package, including a billionaires’ tax the White House said the president supports.

At the same time, they were hoping to make enough progress that House progressives would agree to vote for a separate Senate-passed bipartisan infrastructure bill before Biden heads overseas Thursday.

Just hours after Senate Democrats on Wednesday morning unveiled the “billionaires tax” — to tax the wealth of a few hundred of the wealthiest of Americans — the gambit came into question when Democrat Sen. Joe Manchin, a decisive vote on the bigger social spending bill, raised concerns.

“I’m supporting, basically, that everyone should pay their fair share,” Manchin told reporters on Capitol Hill. “I don’t like the connotation that we’re targeting different people.”

When asked about the plan, proposed by Sen. Ron Wyden, D-Ore., which would help pay the $1.5 -2 trillion cost for sweeping new programs including child care, child tax credits, family leave and environmental initiatives, Manchin hesitated, saying while he thought they would “absolutely” get to a deal “the Senate will take time.”

“There’s a lot going on with that and it’s very convoluted. I believe there’s going to be everyone’s going to pay. I believe that we will end up where everyone must participate,” he said.

Wyden’s plan would apply to people with at least $1 billion in assets or $100 million in income for three consecutive years, applies to increased value on assets — so-called “unrealized gains” not now subject to tax — and would impact roughly 700 taxpayers, according to experts. White House press secretary Jen Psaki announced at Wednesday’s briefing that the plan has Biden’s support.

But the option raises some constitutional concerns and could depend ultimately on the Supreme Court’s interpretation of a wealth tax as a direct tax on property, which is unconstitutional, or whether it’s another form of income tax, which is constitutional. Legal challenges also risk undermining the president’s promise that his plans would be completely paid for.

“We’re not going to support anything we don’t think it’s legal,” Psaki said. “But I will tell you, the president supports the billionaire tax. He looks forward to working with Congress and chairman Wyden to make sure the highest-income Americans pay their fair share,” he said.

White House press sec. Jen Psaki says Pres. Biden “remains open” to going to Capitol Hill amid agenda negotiations.

“We’re making decisions hour by hour on what would be most constructive to move things forward.” https://t.co/MdiYqOuOjj pic.twitter.com/lD0GBR9tnB

— ABC News Politics (@ABCPolitics) October 27, 2021

Aside from the billionaires’ tax plan, Manchin said he and his fellow Democrats are on board with another proposal to help pay for the sweeping programs: a 15% minimum tax on the country’s wealthiest companies.

“We’ve all agreed on a 15% corporate tax,” he said.”There’s a patriotic duty that you should be paying something to this great country to give you the protection and the support and the opportunities. That’s called a patriotic tax. It will be nothing that should be scorned about.”

Wyden, Sen. Elizabeth Warren, D-Mass., and Sen. Angus King, I-Maine, introduced the plan to establish a 15% minimum corporate minimum tax rate that’s aimed at companies making more than $1 billion in profits annually. They estimate the plan would apply to 200 companies generating “hundreds of billions in revenue over ten years,” according to a statement form the senators.

Warren pointed to Arizona Democratic Sen. Kyrsten Sinema in promoting the plan as negotiation continued on Capitol Hill, telling reporters they scrapped the idea of raising individual tax rates on the rich because, she said, those people do avoid taxes anyway.

“They have now opened that hole to the point that billionaires drive semis through it loaded with money,” Warren said of the current tax system.

The corporate tax proposal, and the separate tax on billionaires, are aimed at that tax avoidance — what lawmakers said was the concern of Sinema, who with Manchin, has been a Democratic holdout.

“The idea here is to say, ‘Enough, enough. If you’re a corporation that makes more than $100 billion dollars in profits — not revenues, not assets — but profits, then you’re going to pay a minimum 15% tax,” Warren told reporters.

“It’s not a new tax idea. The taxes are actually already there,” she added. “We’re now saying,”We want you to — you’ve got to — make this on an annual basis instead of putting it off for 30 or 40 years.”

As the clock also ticks on Biden’s overseas trip and White House senior staff do last-minute lobbying to lawmakers, Psaki said Wednesday the president also “remains open to going to the Hill.”

But she also signaled that if there isn’t a vote this week, the White House wouldn’t accept it as a loss.

“We’re on the verge of getting to a deal,” she said of negotiations. “They don’t look at it through the prism of whether there is a vote in one [sic] legislative body before he gets on an airplane,” She said.

Biden summoned Manchin and Sinema to the White House Tuesday night, but Democrats appear still at odds over key issues on expansion Medicare, Medicaid and family leave.

Despite some progressives’ objections, an optimistic-sounding House Speaker Nancy Pelosi signaled the House could act on the “BIF” — the bipartisan infrastructure framework bill — sooner rather than later, with the thinking the chamber can and should vote on BIF with a framework in hand.

“In order for the BIF to pass, we need to have the trust, the confidence and the reality of the Build Back Better bill,” Pelosi told House Democrats in a closed-door meeting, a source familiar told ABC News.

Notably, Pelosi has said she doesn’t bring bills to the floor for a vote if she knows they are going to lose.

“In the next couple of hours, I will be communicating with you on our path from here to there … depending on what happens at the White House,” she said. “That will determine our timetable, our course of action, but we are in pretty good shape.”

Coming out of a meeting later, Pelosi told reporters that Democrats are in “pretty good shape” on the social spending bill.

“We have to just make decisions about one thing or another,” Pelosi said, heaping praise on Biden for leading the charge. “I feel pretty good about it.”

Pelosi notified members in a new dear colleague letter this afternoon that the House Rules Committee will hold a hearing on Thursday on the Build Back Better Act.

The hearing does not mean the bill is ready to hit the floor, as negotiations continue, but it will offer committee leaders a chance to speak to members about the bill. She wrote that progress had been made on a few sticking points, including closing the Medicaid coverage gap, but they’re still working to close a deal on paid family and medical leave.

Meanwhile, a disgruntled Sen. Bernie Sanders told reporters that he doesn’t see a deal by the end of the day.

“I don’t know, but I don’t think so. I’m not quite clear in terms of the revenue package. Every sensible revenue option seems to be destroyed,” Sanders said.

Members of the Congressional Black Caucus said Thursday at a press conference they are also ready to vote “soon” on the legislation that chair Joyce Beatty, D-Ohio, said members have not been on the sidelines for when it comes to negotiations.

“I don’t think we’re in a position to keep kicking the can down the road,” Beatty said. “You know, infrastructure is very important, and we need to make sure that we meet the deadline that is imminent.”

The White House is hoping Biden will be able to tout the sweeping infrastructure package at the COP26 summit and G-20 summit this weekend.

According to an analysis by the pro-wealth-tax Americans for Tax Fairness and the Institute for Policy Studies Program on Inequality, billionaires in the U.S. have seen their collected wealth surge 70% since the start of the COVID-19 pandemic to more than $5 trillion — a gain equal in size to Biden’s spending plans over 10 years, The Associated Press reported.

The president did not campaign on a wealth tax but vowed no one earning less than $400,000 would pay more in taxes in his administration.

ABC News’ Sarah Donaldson contributed to this report.

Striking John Deere worker killed in traffic accident reporting to picket line

October 27, 2021 by WDNY Radio

(MILAN, Ill.) — A John Deere worker who was taking part in the ongoing strike was killed in a traffic accident while walking to the picket line on Wednesday morning, the United Auto Workers Union said.

The tragedy took place at approximately 6 a.m. local time in Milan, Illinois, according to a statement from Milan Police Department Chief Shawn Johnson. The victim’s name is being withheld pending family notification.

“Initial investigation showed the pedestrian was crossing the Rock Island Milan Parkway at the intersection with Deere Drive,” Johnson said. “The pedestrian was pronounced deceased from injuries sustained in the accident.”

The 56-year-old employee was a member of the UAW’s Local 79 and had been an employee at the Milan John Deere Parts Distribution Plant for 15 years, according to a UAW statement.

“It is a somber time to lose a member who made the ultimate sacrifice in reporting to picket for a better life for his family and coworkers,” UAW President Ray Curry said in the statement.

Ron McInroy, director of UAW Region 4, added: “Our brother was fighting for what is right and we all mourn for his family and co-workers.”

“Through our tears, we continue to picket and honor the solidarity of our fallen brother,” McInroy said. “But we do this with heavy hearts today.”

Curry said the UAW flag will fly at half-staff Wednesday.

More than 10,000 John Deere workers have been on strike for approximately two weeks, after the union rejected a contract offer Oct. 14. The workers are seeking higher wages, better retirement benefits and more after working through the COVID-19 pandemic. It’s the first strike at the agricultural machinery giant in more than three decades, and it comes amid a spate of strikes in recent weeks that’s left several major companies scrambling for staff.

“We are saddened by the tragic accident and death of one of our employees who was struck by a vehicle before dawn this morning,” Jennifer Hartmann, director of public relations at John Deere, told ABC News in a statement Wednesday. “All of us at John Deere express our deepest condolences to their family and friends.”

Live bullet was in gun fired by Alec Baldwin in fatal movie-set shooting: Sheriff

October 27, 2021 by WDNY Radio

(SANTA FE, N.M.) — Law enforcement officials in New Mexico said Wednesday that they suspect a real bullet was loaded in the antique revolver used in a movie-set shooting by actor Alec Baldwin that killed the film’s cinematography and wounded its director.

Santa Fe County Sheriff Adan Mendoza said a lead slug taken from wounded film director Joel Souza’s shoulder came from the F.LLI Pieata Colt revolver that Baldwin fired during a dress rehearsal Thursday afternoon for the western “Rust” at the Bonanza Creek Ranch studio near Santa Fe.

Mendoza said the same shot mortally wounded cinematographer Halyna Hutchins, who later died at a hospital.

Mendoza declined to say whether negligence was involved in the incident or who was responsible for putting the live round into the Colt revolver Baldwin fired.

The sheriff said three guns were seized from the scene, including the Colt revolver. He described the other guns as a non-functioning .45 caliber revolver and a plastic non-functioning prop gun.

He also said 500 rounds of ammunition were also seized that included a mix of blanks, dummy rounds and live rounds.

“We believe that we have in our possession the firearm that was fired by Mr. Baldwin. This is the firearm we believe discharged the bullet,” Mendoza said. “We also believe we have the spent shell casing from the bullet that was fired from the gun. We regard this specific spent casing and recovered projectile to be the live round that was fired from the revolver by Mr. Baldwin.”

Mendoza said investigators have interviewed the two people who “handled and or inspected the loaded firearm prior to Baldwin firing the weapon.” He identified them as the film armorer Hannah Guitierrez-Reed and assistant director David Halls.

He said investigators have collected what they believe to be additional live rounds from the set.

Mendoza said the evidence will be analyzed by the FBI at the bureau’s crime lab in Quantico, Virginia.

“I want to ensure the victims, their families and the public that we are conducting a thorough and objective investigation,” Mendoza said. “In reference to possible charges, it’s too early right now in the investigation to comment on charges at this point.”

Santa Fe District Attorney Mary Carmack-Altwies said no decision has been made on whether charges will be filed and that she will wait until the investigation is complete.

“I must emphasize that a complete and thorough investigation is critical to DA review. We take the corroborated facts and evidence and connect it to New Mexico law and we are not at that juncture yet,” Carmack-Altwies said. “I am a prosecutor that was elected in part because I do not make rash decisions and I do not rush to judgment.”

Ask by a reporter whether Baldwin could face criminal charges, Carmack-Altwies said, “All options are on the table at this point.”

“I’m not commenting on charges whether they will be filed or not on whom,” she said. “We cannot answer that question yet until we complete a more thorough investigation. No one has been ruled out at this point.”

This is a developing story. Please check back for updates.

Boy found dead in home died from blunt force, abandoned siblings left in ‘unspeakable’ conditions

October 27, 2021 by WDNY Radio

(HOUSTON) — An 8-year-old boy whose skeletal remains were left in his Houston home died from “multiple blunt-force injuries,” authorities said Wednesday.

The remains of the boy, who died around November 2020, were left in the apartment along with his three malnourished and abandoned siblings: a 15-year-old boy and two younger brothers, the Harris County Sheriff’s Office said.

The three surviving brothers were found home alone on Sunday when the 15-year-old called authorities. The teen reported that his 8-year-old brother had been dead for one year and his body was in the room next to his, the sheriff’s office said.

The teen also said his parents hadn’t been in the apartment for several months, authorities said. Harris County Sheriff Ed Gonzalez described the home as “unspeakable living conditions,” with soiled carpets, roaches and flies.

“It seemed too horrific to be real,” Gonzalez said at a news conference Wednesday.

The boyfriend of the 8-year-old’s mother, 31-year-old Brian Coulter, was charged Tuesday with the boy’s murder, authorities said. The boys’ mother, 35-year-old Gloria Williams, was charged with injury to a child by omission and tampering with evidence, according to the sheriff’s office.

The children were taken to a hospital and the Texas Department of Family and Protective services received emergency custody of them, Gonzalez said.

Authorities said Wednesday that one of the boys had a jaw injury, allegedly caused by Coulter several weeks ago, and will need surgery.

The boys all were very thin, officials added.

“The mother, we believe, was providing some food by delivery service or having food dropped off on a fairly routine basis,” though it only appeared to be junk food, Gonzalez said.

The children had apparently not been in school for more than one year, the sheriff added.

“My prayer is that the remaining children find the love, support and protection that they so desperately need and deserve,” Gonzalez said Wednesday.

Coulter did not appear at his initial court hearing Wednesday. His bond was set at $1 million, and he was ordered to have no contact with Williams or the minor witnesses in the case, according to ABC Houston station KTRK. Williams is expected to appear in court Wednesday.

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