A fellow named Bruce Webb posting at Angry Bear suggested that allowing the tax cuts to expire on the top 2% of Americans might not hurt the economy since these folks aren’t lending and spending money as it is: The argument against allowing tax cuts to expire on the top 2% is that it would [...]
Tags: Tax Policy · The Economy
Two weeks ago in a roundtable talk sponsored by The National Academy of Social Insurance Gary Burtless of the Brookings Institute said the unemployment payroll tax is a scandalously regressive tax on workers. He’s right, except for one tiny problem: The unemployment tax is not a tax on workers at all. Burtless glosses over this critical fact in his diatribe against what he calls the unemployment [...]
Tags: Employer Issues · Payroll Taxes · State Taxes · Tax Policy
ABC affiliate WTFV.com reports that William Albritton pleaded guilty to stealing a half million dollars from the IRS while in jail: Documents WFTV obtained show William Albritton filed hundreds of fake tax returns and claimed prison guards, and even his mother, helped pull the scheme off. While he was in prison for kidnapping, home invasion robbery and [...]
Tags: Tax Crimes
The Treausry Inspector General for Tax Administration (TIGTA) has today issued the following press report (emphasis added): IRS DOES NOT ALWAYS PROTECT TAXPAYERS’ RIGHTS WHEN FILING LIENS, TIGTA FINDS: WASHINGTON – The Internal Revenue Service (IRS) is not always following statutory requirements regarding the timely notification of taxpayers when liens are filed and does not always follow [...]
Tags: IRS procedure
Somethings are so perfect you just have to quote them. Christopher Beam of Slate posed a question yesterday in a post about whether or not the Bush tax cuts should be extended: When is a tax hike not a hike? His answer? When it’s a tax un-cut! Excellent, Christopher. Related Post: Truth and Taxes: Not [...]
Tags: Politics of Taxes · Tax Humor
Instead of admiring the successful and trying to learn from them, we delude ourselves that their successes were obtained either by dumb luck or nefarious means. Catherine Rampell of the New York Times takes on the White House for damning the successful in Are the Rich Just Lucky? Here’s the entire post: Christopher Bergin, the president and publisher [...]
Tags: Politics · Politics of Taxes
Kay Bell reports that Theresa Heinz Senator John Kerry will pony up the Massachusetts’ use tax due on his $7 million yacht: OK, Sen. John Kerry is tired of all the yacht tax questions. Kerry announced this afternoon that he’s paying all Massachusetts taxes due on his new $7 million yacht even though it’s docked in Rhode Island, [...]
Tags: Politics of Taxes · State Taxes
