by Linda Beale Tax evaders (and those who aide them), not regulatory complexities, cause tax evasion The July 24 New York Times Magazine carries an article by Adam D entitled My Big Fat Belizean, Singaporean Bank Account. The author shows how easy it was for him to establish a secret offshore bank account that would […]
Update: (hat tip Robert Waldmann) Senate.gov voting record on middle class tax cut bill Excerpted from Linda Beale’s piece (7/25) on the numbers for the action taken by the Senate: …After threatening to filibuster the Obama tax cut proposal, Mitch CcConnell pulled back. See Lori Montgomery, McConnell pulls back from filibuster on Senate tax-cut vote, […]
by Linda Beale What’s Romney Got to Hide? (Part III) In the last two posts, I explored a number of fairly simple questions that might be raised about Romney’s activities that would be clarified by seeing multiple returns (hobby versus investment/business losses; business versus passive activity losses; amounts of preferentially taxed income; income reported from […]
by Linda Beale What’s Romney Got to Hide? It’s past time for financial and tax transparency As everybody who has followed anything about this election cycle knows, Mitt Romney–likely the wealthiest man to run for president, the only bankster/private equity fund founder (sole shareholder, CEO and manager) to run for president, and probably the only […]
by Linda Beale Tax Foundation Misses the Ball (again) in its analysis of Supreme Court Health Care Ruling The Tax Foundation pretends to be non-partisan. Of course we all know that is pretense. Look at the way it has pushed its concept of the so-called “tax freedom day”, which misleads everyday Americans into thinking that […]
by Linda Beale Paul Moreno’s “short history” of the taxing power At the May meeting of the American Bar Association Tax Section, Jaspar (Jack) Cummings (a well-renowned tax practitioner who has written extensively on the Supreme Court’s tax jurisprudence) and I gave a joint keynote speech for the Tax Section’s Diversity Committee. Our address covered […]
by Linda Beale One in 189 of those with $200,000 or more in AGI paid no federal taxes in 2009 [edited 5/30 to correct “one in four” goof] The IRS recently released another “statistics of income” report. This one has news that should make most ordinary Americans think twice about the GOP agenda of reducing […]
by Linda Beale Another US District Court finds no rational basis for DOMA treatment of same sex couples In a case that will add weight to the likelihood that the Supreme Court will finally take a case to decide the constitutionality of the so-called “defense of marriage act” (DOMA), the U.S. district court for Northern […]
by Linda Beale Calculating the Cost of Bailouts A recent New York Times includes a piece on the Treasury’s study of the various bailouts or “rescues” of distressed financial and other institutions. Gretchen Morgenson, Seeing Bailouts Through Rose-Colored Glasses, New York Times (May 19, 2012). The Treasury study, The Financial Crisis Response–in charts (April 13, […]
by Linda BealeEITC: Mulligan (economic theory) vs. Seto (empirical evidence) TaxProf today noted the article in the New York Times about the EITC: Casey Mulligan, Do Tax Credits Encourage Work? New York Times ( 2012). Mulligan, an econ prof at the University of Chicago (home, of course, to Milt Friedman’s “free” market theories) noted that […]