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, […]
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 […]
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 […]
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: […]
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 […]
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 […]
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 […]
A few commenters of my last post suggested that picking at the tax code can create big problems if you don’t know what you’re talking about. I agree. Why mess with what is working as evident in the data continuously collected and reported concerning the economy. But, in 1981 they did mess with it and […]
One of my issues with our economy and the shift in share of income has been the tax code. I have consistently stated that something other than the tax rate changed in the code back in 1981 or so when the first change took place. Labor went from being an asset to a liability and […]