by Linda Beale Ways and Means–still distracting with false scandals GOP representatives Camp and Boustany are continuing to beat the dead horse of an IRS “scandal” connected with the way the IRS has attempted to efficiently filter new applications for 501(c)(4) status to provide extra scrutiny to the most likely groups to be engaged in […]
by Linda Beale David Sirota Agrees with me on the Tax Reform “Secrecy” Scandal As I mentioned in an earlier post, Max Baucus has established a secret submission process for Senators to let him know what pet tax loopholes they want to retain (probably the ones that high-paid lobbyists representing corporations with operations in their […]
EPI’s Elise Gould reports on the impact of Social Security as a safety net keeping another 25 million people out of poverty.
David Zurin from The Nation writes The headline juxtaposition boggles the mind: The headline juxtaposition boggles the mind. You have, on one day, “Detroit Files Largest Municipal Bankruptcy in History.” Then on the next, you have “Detroit Plans to Pay For New Red Wings Hockey Arena Despite Bankruptcy.” Yes, the very week Michigan Governor Rick Snyder […]
by Linda Beale Inequality: Obama’s Speech, Detroit’s Bankruptcy, Taxes Was Obama’s speech on inequality really what Michael Lind claims in “The Day the Right Lost the Economic Argument” Salon.com (July 25, 2013)? The right, both here and internationally, has been pushing for austerity for most while those at the top reap unparalleled rewards from upward-moving […]
by Linda beale Proposals for Cutting the IRS Budget As the budget battles loom again in our dysfunctional Congress, one of the targets of the right is, not unexpectedly, funding for the IRS. Sequestration is already hampering the IRS’s ability to perform its functions. See $6 collected for every $1. But the right wants to […]
by Linda Beale Senators promised 50 years of secrecy on their tax reform proposals There continues to be more blather about the need for “tax reform, and buddies GOP Dave Camp and skin-deep Dem Max Baucus seem to be intent on accomplishing something “big”. And that’s what’s worrying me. The Republicans have been arguing that […]
by Linda Beale Offshoring profits with captive reinsurance One of the ways that corporations manage to cut their federal income tax bills way, way below the statutory rate is by setting up reinsurance affiliates offshore. While some of these reinsurance affiliates may actually function as full-service reinsurance companies to many different customers, those truly taking […]
Lifted from comments from open thread July 23 by reader Jack Round and around the revolving door does spin. Those who take the ride are guaranteed to win, in the game of securities enforcement law. In yet another move between public and private practice John Khuzami moves from the SEC to “….a job that pays […]