Doug Powers of Michelle Malkin’s blog writes that actor Will Smith supports President Obamaâs call for Americaâs top earners to pay more taxes but thinks France’s 75% top tax rate is too high: Hereâs a brief transcript from an interview with Smith that ran on French television. Video via Real Clear Politics: Will Smith: I [...]
In The Million-Dollar Question: Has Congress Missed the Mark with I.R.C. § 162(m) Compensation Deduction Caps? Christopher Jones of Georgetown University examines whether the tax code’s cap on deductible executive pay works: Theories abound as to why the disparity between executive and worker pay has grown so dramatically and whether that growth is justified. But [...]
Bruce Bartlett writing for the New York Times in Will Rich People Desert the U.S. if Their Taxes Are Raised? says: In recent years, the number of Americans renouncing their citizenship has increased. According to the international tax lawyer, Andrew Mitchel, the number of Americans renouncing their citizenship rose to 1,781 in 2011 from 231 [...]
Income equalitarians like President Obama really don’t want to hear that the incomes of the poor and middle class rise when those of the rich rise because it destroys their argument that the rich are benefiting at the expense of the lower classes. Cornell has conducted another study that says just that and, once again, [...]
“A man is very apt to complain of the ingratitude of those who have risen far above him.” – Samuel Johnson – Holman Jenkins, Jr. of the Wall Street Journal in The Inequality Obsession echoes what I have been saying about the left’s obsession with income inequality: If it were learned that the car driven [...]
The tax-the-rich left finally has the conclusive proof it has been seeking that it is absolutely, unequivocally the right thing to do for the United States to increase taxes on the rich: France is doing it. Charles Riley of CNNMoney says that “raising taxes on the rich isn’t just an election year issue in the United States — it’s [...]
From Paul Caron: The Hill, Hill Poll: Likely Voters Prefer Lower Individual, Business Tax Rates: Three-quarters of likely voters believe the nationâs top earners should pay lower, not higher, tax rates, according to a new poll for The Hill. The big majority opted for a lower tax bill when asked to choose specific rates; precisely 75% said the [...]
In a 2009 commencement address President Obama jokingly threatened to audit Arizona State University for not giving him an honorary degree on the grounds that his record was incomplete (he had been President for just two months). Now it appears there may have been more than a kernel of truth in the joke: Virginia Republican U.S. [...]
The Weekly Standard via Instapundit: Tim Geithner says that because Americans are privileged to be Americans the rich should pay hire taxes: Thatâs the kind of balance you need. Why is that the case? Because if you don’t try to generate more revenues through tax reform, if you don’t ask, you know, the most fortunate Americans to [...]
Heritage: Nearly Half of All Americans Donât Pay Income Taxes Heritage Foundation: Chart of the Week — Nearly Half of All Americans Donât Pay Income Taxes: (Hat Tip: Paul Caron) Bookmark & Share:
Paul Caron reports that the United States tax system is more progressive than France, Germany, Belgium and the UK. No doubt my friends on the left, tax bloggers Linda Beale and James Maule, and those of their ilk, will find a way to recast the study and the charts below as evidence of a right wing [...]
Taxing Medical Progress to Death by Michelle Malkin: Two years ago this month, as public debate over Obamacare raged, former President Bill Clinton rushed to the hospital because of a heart condition. He immediately underwent a procedure to place two stents in one of his coronary arteries. It was a timely reminder about the dangers [...]
In a post titled Five Breaks Washington Gives the Rich CNNMoney reports that when non-rich people die they simply stop breathing but when rich people die its a boon to them. Here is the third and most entertaining of the five tax breaks CNNMoney claims the rich get from Congress: Big benefits for those who die When President Bush took [...]
Listen to left-lurching tax law professor and tax blogger Linda Beale wax indignant about Greece’s austerity program (emphasis is mine): The austerity demands, in order for a sovereign nation to pay back its debt to mostly big banks that lent money recklessly in the leadup to the financial crisis, make no sense at all. If [...]
How do you deal with someone as serially loathsome as Jonathan Chait, a man who has bragged that he hates a sitting President because he walks funny and then has the balls to accuse others of being the “lesser lights of the intellectual world?” Well, a fellow named Clive Crook knows how. Crook writing for the Atlantic exposes Jonathan Chait as a [...]
Michelle Malkin reports that the transparency President has done another one of his patented Friday afternoon document dumps,¹ this time with the voluminous and highly complex IRS rules for implementing the tax provisions of Obamacare: (footnote is mine). If itâs Friday, itâs another White House dump day. Cue the dump truck horn: Doot! Doot! Doot! While Obama [...]
The New York Times continues the tax gotcha game. In this version, one Paul Sullivan¹, a man whose sole qualification for writing about taxes and business is that he has history degrees from Trinity College and The University of Chicago, attempts to attach the label of tax-avoider to Newt Gingrich (emphasis is mine): Our colleague Paul Sullivan has written an interesting [...]
The left would have you believe that 1 percenters like Warren Buffett and Mitt Romney are the poster boys for a tax system that favors the rich. Enter James Ross, a 1 percenter who paid 102% of his 201o taxable income in federal income, state income local taxes. James Stewart of the Associated Press has the story: [...]
A fellow named Charles Sykes has written a new book titled A Nation of Takers: America’s Addiction to Getting Something for Nothing. In the first pages of his book Sykes presents a few scenes from what he calls “Moocher Nation.” Here’s my favorite scene: Q. Why are you here? A. To get some money Q. What [...]
Last month in American Tax Compliance Rates Highest in Civilized World Despite What David Cay Johnston Says I refuted David Cay Johnston’s absurd claim that America’s low tax rates are the cause of it’s alleged rampant tax evasion: Johnston claims that there is ârampant evasion in the U.S.â even though the very study he cites shows that there [...]