Andrew Sullivan writes something interesting.* No not that Andrew Sullivan, this Andrew Sullivan at Reuters. Fairly excerpted, I think. in October 1993, Bain Capital, co-founded by Mitt Romney, became majority shareholder in a steel mill that had been operating since 1888. It was a gamble. The old mill, renamed GS Technologies, [skip] a federal government […]
by Linda Beale IRS proposes new innocent spouse procedures In a press release IR 2012-3 (Jan. 5, 2012), the IRS has issued Notice 2012-8 announcing a new revenue procedure updating Rev. Proc. 2003-61. The IRS describes the effect of the procedure as follows. This proposed update to Rev. Proc. 2003-61 addresses the criteria used in […]
by Linda Beale CRS reports on repatriation tax holiday impact Shortly before the Christmas holiday, CRS released a report by Donald Marples and Jane Gravelle on the possibility of a second repatriation tax holiday for multinational corporations. Download Marples and Gravelle. tax cuts on repatriation earnings as economic stimulus. an economic analysis. 122011.c The holiday […]
by Linda Beale Romney’s Tax Plan–good for the wealthy, not so good for everybody else The Tax Policy Center has done an analysis of Romney’s plan for US taxation. SeeThe Romney Plan. It doesn’t look bad at all for the wealthy. In adding at least $600 billion to the U.S. deficit by 2015, Romney would […]
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 […]
by Mike Kimel (Update: Naked Capitalism notes Mike’s post is the top read of the day in ‘links’) In recent years, there have been a number of studies showing that generational income mobility is particularly low in the US. To quote this 2006 study by Tom Hertz: By international standards, the United States has an […]
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 […]
Romney’s Wall St. J. Interview with Gigot–Protecting the Rich [edited to rephrase and correct typos 12/26/11 5 pm] Joseph Rago and Paul Gigot interviewed Mitt Romney on his ‘vision’ for America–“On Taxes, ‘Modeling’, and the Vision Thing”, Wall St. J. Dec. 23-24, 2011, at A13. In it, Romney reveals the way patrician wealth has affected his […]
by Mike Kimel A Random Observation About the 1970s… and the 1980s People often point to the stagnation of the 1970s, and the Reagan administration that followed, as evidence that cutting taxes leads to faster economic growth. But the same folks rarely look at the flip-side of things, and when they do, they don’t reach […]
by Linda Beale Essential Health Benefits and cost benefit analysis: can we maintain doctors’ incomes and provide decent care for all? So we thought we had finally created a national system of health insurance that would permit near-universal coverage for essential health benefits to every American. But the Obama administration says it is not going […]