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

The Tax Code Ain’t Nearly So Big as Often Claimed

by Linda Beale The Tax Code Ain’t Nearly So Big as Often Claimed I can’t resist pointing readers to tax professor Jim Maule’s excellent post chastising everybody–from those obviously slanted propaganda-tank tax gurus Chris Edwards (you all know him as the purported tax expert from the right-wing pseudo-libertarian Cato Institute, whose other associate, Dan Mitchell, […]

Reagan as a Presidential candidate today

by Mike Kimel A very interesting video from Think Progress juxtaposes a speech by Barack Obama with a speech by Reagan. In it, Reagan says: We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but […]

Define Rich, Part III. What the tax tables of yore say.

 By Daniel Becker Randolph Duke: Money isn’t everything, Mortimer. Mortimer Duke: Oh, grow up. Randolph Duke: Mother always said you were greedy. Mortimer Duke: She meant it as a compliment. Trading Places 1983 A while ago (an understatement) I posted on the question of what is rich. The first dealt with what issues to consider […]

Tyler Cowen and ‘something amiss’

by Mike Kimel Cross posted at the Presimetrics blog I really don’t understand this post by Tyler Cowen. He begins by noting: The median earnings of full-time Canadian workers increased by just $53 annually — that’s right, $53 annually — between 1980 and 2005. He then links to two documents, one of which says this: […]

A Simple Explanation for a Strange Paradox: Why the US Economy Grew Faster When Tax Rates Were High, and Grew Slower When Tax Rates Were

by Mike Kimel A Simple Explanation for a Strange Paradox: Why the US Economy Grew Faster When Tax Rates Were High, and Grew Slower When Tax Rates Were LowCross posted at the Presimetrics blog. If you are familiar with my writing, you know that for years I have been covering the proverbial non-barking dog: the […]

SILOs –more action needed?

Tax advantaged “sale-leasebacks” with strapped-for-cash municipalities (SILOs, in the ever-present tax acronym set) came back to light when the Washington Metro train crashed a week ago. The cars were ones that were involved in the metro authority’s SILO deals with various banks, and the authority didn’t have any spare cash left to fund replacements. See […]

Correlation is not Causation

I spent most of the evening reading Underbelly posts, so this link is probably due to Buce: On Oct. 22, 1986, President Reagan signed into law the Tax Reform Act of 1986, one of the most far-reaching reforms of the United States tax system since the adoption of the income tax. The top tax rate […]

Annals of Republican Obstructionism

Last week, the Senate failed to invoke cloture on S.3335, a measure which among other things would extend the production tax credits for solar and wind energy, plug the Highway Trust Fund deficit, and keep the Alternative Minimum Tax at bay for elements of the lower-upper-middle-classes for another year. The vote was 51-43, with a […]

Palley on Tax Preferences for Homeownership and the Bubble

Mark Thoma points to Thomas Palley playing lightning rod with “Tax Policy and the House Price Bubble.” With a title like that, you might expect a prima facie case for a causal link between tax preferences for homeownership and the bubble, but Palley’s lede is deeply buried and there turns out not to be a […]

Some Advice For Robert Stein and Other Conservatives Trying to Construct a New Tax Structure

Robert Stein has been kind enough to clarify a lot of points about his tax plan, so I’d like, if I may, to offer conservatives my thoughts on a tax plan. Not a tax plan, but things I feel they should keep in mind about taxes if their goal is to come up with a […]