Tag: Income Tax
Decoding the Tax Code
Tax time is just around the corner, and that invites an examination of the U.S. tax code. For politicians, the Internal Revenue Code means that high-rise stack of documents they occasionally display to accompany press conferences. Taxpayers would do well to regard another code, the deceptive vocabulary politicians deploy to frame the issue. Take,...
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Contrary to News Reports, California Is Actually a Loser in Its 26-year Tax War Against Tech Inventor Gilbert Hyatt
Lower state income taxes, or their complete elimination, might encourage more creative entrepreneurs to remain in California.
Why 2018 Federal Tax Collections Rose Even Though Corporate Tax Revenue Fell
Together, faster economic growth and increased numbers of Americans earning higher incomes led to increased individual tax collections.
Should Tax Disclosure Rules Apply to All Politicians?
Arbitrary discretion in enforcing laws is one of the perks of wielding political power.
Roving Bandit, Stationary Bandit, and Income Tax
Many libertarians have embraced the slogan “taxation is theft.”
Tax Reform Is a Scam: Tell Us What We Really Pay!
In another post, Randall Holcombe rightly notes the pressing need for tax reform. Holcombe argues that Trump’s proposed tax reform is “an improvement over the current system.” That may be true; time will tell. Yet, today my news feed reports nonchalantly that the Republican Congress passed a budget in excess of $4 trillion. That...
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Taxation and Wealth Redistribution as Lowbrow Morality
Peter is a wealthy man and has $1,000 in his wallet. He plans to use it for a variety of things—some groceries, taking his wife out to dinner, and buying some new golf clubs he’s been admiring. Enter Paul. Paul thinks that Peter’s money could be put to better use, like helping low-income families...
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Did Lefty Need to Apologize for Tax Comments?
Phil Mickelson is being targeted for his comments on California’s and the Feds’ tax hikes. The offending statements, as reported by the Chicago Tribune, are as follows: “Well, it’s been an interesting offseason, and I’m going to have to make some drastic changes,” Mickelson told reporters Sunday after tying for 37th place at 17 under...
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Willingness to Soak the Rich Depends Upon the Question
Further to my post, “Two Wolves and a Sheep,” a new poll out yesterday from The Hill disputes other polls showing a majority favoring taxing the rich more. According to The Hill’s poll, when asked the specific percentage “the rich” should pay, most provide a number lower than the current tax rate on the...
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Two Wolves and a Sheep
This front-page headline from Friday’s San Francisco Chronicle brings to mind the old adage about democracy being two wolves and a sheep voting on what to have for dinner: “Voters Willing to Tax Wealthy.” The article goes on to detail the not-surprising results of a poll in which voters were asked to choose between...
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