Relevant and even prescient commentary on news, politics and the economy.

Still haven’t filed your FBAR? Don’t wait till you get hit with forfeiture

by Linda Beale Still haven’t filed your FBAR? Don’t wait till you get hit with forfeiture like this Alaska Plastic Surgeon It looks like the leads from the various voluntary disclosures are beginning to pay off, as the U.S. is beginning to develop high stakes cases related to Americans who have tried to maintain secret […]

Making the United States More Like Greece

Simon Johnson at Baseline Scenario writes in Making the United States More Like Greece: One of the big problems in Greece over the past decade or so is that the government was not honest with its data. Various people assisted in the matter – including Goldman Sachs with respect to some debt issues – but […]

Even critics of the safety net…

This article in the New York Times (Even critics of the Safety Net) presents a gentle desription of some voter feelings about the political and economic ‘issues’ of this economy and election. I have a lot of different feelings about the description of people interviewed. The current media surrounding the election campaigning does not allow […]

Romney’s Tax Proposal by pgl

Romney’s Tax Proposal The Tax Policy Center provides its review of which taxpayers will pay more and which ones will pay less under the tax proposal introduced by Mitt Romney. A really short summary goes as follows: (a) The well to do will pay less in taxes; (b) The working poor will pay more in […]

Corporatism and taxes

by Linda Beale Corporatism and taxes Corporatism is the term used to describe a economic and governmental approach that favors large entities over people, including adopting rules and regulations to suit the regulated entities, tilting legislation to protect corporate entities that might otherwise be considered to be causing harm to the public good, and allowing […]

Competing GOP Tax proposals Graphic

An organization that is called: American Institute of Certified Tax Coaches has put up a summary graphic of the various tax proposals ofthe GOP candidates. It not only notes the major points of their plans, but what their plans would cost. It is presented in a sort of game board race layout. The Institute introduces […]

Ian Ayres on the Brandeis Tax

by Linda Beale   Ian Ayres on the Brandeis Tax I’ve often argued here that vast inequality is harmful to democracy, and that the kind of unequal society that we have today, reflected the Gilded Age of yore, is especially worrisome.  Much of what is happening in this country that threatens freedom and economic suffering […]

Guest post: Who Are the 1%?

Update: Mike Konczal also takes a  look at this question in Who are the one percent and what do they do for a living.Update 2: Another source for historical trends on inequality is at The Center for Budget and Policy Priorities by Taryn Hart     Taryn Hart publishes at her blog Plutocracy files and has interviewed […]

Gingrich tax ‘plan’ starves government, feeds the wealthy, rests on flawed assumptions

by Linda Beale Gingrich tax ‘plan’ starves government, feeds the wealthy, rests on flawed assumptions In case you hadn’t heard about it, Gingrich would offer taxpayers a choice to pay tax under current policy or at a 15% rate, with zero taxation of capital gains, dividends and interest that accrues mostly to the rich and […]

Peter Diamond, Emmanuel Saez, Paul Krugman and Me!! Looking at Optimal Tax Rates

by Mike Kimel Peter Diamond, Emmanuel Saez, Paul Krugman and Me!! Looking at Optimal Tax Rates Via Paul Krugman, I learned of this paper by Peter Diamond and Emmanuel Saez. Diamond, of course, is a Nobel Laureate. I will be shocked if Saez isn’t one too in ten or fifteen years. Long story made very […]