Michelle Malkin reports that the transparency President has done another one of his patented Friday afternoon document dumps,¹ this time with the voluminous and highly complex IRS rules for implementing the tax provisions of Obamacare: (footnote is mine). If it’s Friday, it’s another White House dump day. Cue the dump truck horn: Doot! Doot! Doot! While Obama [...]
Tags: Announcements · News · Politics of Taxes
The left would have you believe that 1 percenters like Warren Buffett and Mitt Romney are the poster boys for a tax system that favors the rich. Enter James Ross, a 1 percenter who paid 102% of his 201o taxable income in federal income, state income local taxes. James Stewart of the Associated Press has the story: [...]
Tags: Politics of Taxes
A fellow named Charles Sykes has written a new book titled A Nation of Takers: America’s Addiction to Getting Something for Nothing. In the first pages of his book Sykes presents a few scenes from what he calls “Moocher Nation.” Here’s my favorite scene: Q. Why are you here? A. To get some money Q. What [...]
Tags: Politics · Politics of Taxes · The Economy
Last month in American Tax Compliance Rates Highest in Civilized World Despite What David Cay Johnston Says I refuted David Cay Johnston’s absurd claim that America’s low tax rates are the cause of it’s alleged rampant tax evasion: Johnston claims that there is “rampant evasion in the U.S.” even though the very study he cites shows that there [...]
Tags: Politics of Taxes · Tax Policy
By way of Paul Caron, the WSJ reports that the Buffett Rule, if enacted, won’t apply to its namesake: Wall Street Journal, Will Buffett Avoid the Buffett Rule? The Sage of Omaha Is Already Positioned to Shield Most of His Rising Wealth From Such a Tax, by James Freeman: Billionaire Berkshire Hathaway CEO Warren Buffett [...]
Tags: Politics of Taxes
Please bear with me on this one. If Warren Buffett really does pay taxes at a lower rate than his secretary does, it is a fairer result than if he paid taxes at a higher rate.¹ Here’s why: Warren Buffett employs his secretary. Debbie Bosanek employs no one Warren Buffett, directly and indirectly, employs hundreds of thousands of workers. Debbie [...]
Tags: Politics of Taxes · Tax Policy
One of the first rules of debate is that you should endeavor to understand your opponent’s argument – both the strong and weak points – better than he does. The pro-tax left is, apparently, unaware of this rule. Count left-leaning economist Robert H. Frank among those who simply do not understand why many conservative Americans, the [...]
Tags: Philosophy · Politics · Politics of Taxes
