by Mike Kimel Taxes and Economic Growth: Real World & Simulations Over the past few years, I’ve posted many times on an unpleasant reality: despite the fact that so many people believe otherwise, in general, lower taxes do not result in faster economic growth. It is really too bad, because we could all be better […]
by Linda Beale Reform that “high” statutory corporate tax rate? Not necessary I got an interesting item pushed to me from an online-MBA website blog where today’s item was on “10 Big Businesses That Barely Pay Taxes“. It looks at companies like GE, duPont, Verizon, ExxonMobil, FedEx, Boeing, Google and others that aggressively maximize the […]
by Linda Beale Common Cause Claims ALEC Violated Tax Exempt Lobbying Restrictions The Common Cause organization filed a complaint with the IRS under 26 USC 7623, the tax whistleblower act, alleging that the American Legislative Exchange Council violated the lobbying restrictions applicable to tax exempt organizations through underreporting and operating in furtherance of private corporate […]
First a qualification. I am basing the following on info I found on the net. If the info is wrong, then I stand corrected as to who is or is not paying but not as to what happens when a large entity does not pay. The specific city and company are used purely for example […]
by Linda Beale Buffett Rule rejected by Senate The Senate rejected the effort to make tax policy commensurate with the slogans about American values that we parrot freely–opportunity, paying fair shares, etc. Given the now rigid “phantom” filibuster rule requiring a supermajority to pass anything in the Senate, the Republicans –especially if joined by a […]
by Linda Beale More on Private Equity, Carried Interest, Wealth, and Romney Those who’ve read much of this blog are aware of the various arguments against the notion that private equity firms are “do-gooders” that we should encourage and even subsidize (through the carried interest provision). On the whole, I believe they are part of […]
by Mike Kimel Explaining Why Low Tax Rates are Correlated with Slower Economic Growth, Once Again One of the regular mysteries facing economists is why the US economy fails to display evidence of a relationship that everyone seems to accept implicitly, namely that lower taxes lead to (or even are correlated with) faster economic growth. […]
by Linda Beale Senate Dems unveil their tax cut proposal Senate Democrats, led by majority leader Harry Reid, unveiled a $26 billion tax-cut bill on March 26, 2012. See, e.g., Richard Rubin, Senate Democrats Said to Prepare $26 Billion Tax Cut Measure, San Francisco Chronicle (Mar. 26, 2012). The proposal revives the lapsed 100% expensing […]
by Linda Beale Is Congress drinking Grover Norquist koolaid? (or will it fund IRS appropriately) IRS Commissioner Doug Shulman testified before the House Appropriations Financial Services and General Government Subcommittee on President Obama’s proposed 2013 budget for the IRS. Shulman wants Congress to provide adequate funding to the IRS to support its enforcement function. The […]
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 […]