Taxes

Associated Press Says: Don’t Cut Taxes!

Featured image The Associated Press is one of many “news” outlets that has gone into overt opposition, now that we have a Republican rather than a Democrat in the White House. Today’s AP “Top News” feature is headlined: Doubts arise on whether corporate tax cut would boost growth. The passive voice is generally a giveaway. Where, exactly, are doubts “arising”? Trump insists that slashing the corporate tax rate from 35 percent to »

On DACA, Let’s Make a Deal

Featured image Two headlines in today’s news are, I hope, related: “Trump expected to end program for young immigrants,” and, in the Milwaukee Journal Sentinel, an op-ed by President Trump himself: “We must fix our self-destructive tax code.” Paul wrote earlier today about Trump’s reported DACA decision, considering it on a stand-alone basis. Everything he wrote is, I think, true. DACA was obviously unconstitutional, and Trump has merely stated (or is expected »

Blue Governance in the Emerald City

Featured image I don’t know quite when it happened, but some time in the last decade or so Seattle decided it was losing too much ground to Portland, Oregon, in the Crazy Liberal Weirdness Department. Sure, Seattle brought us grunge rock (music to invade Poland by, as someone once put it) and the 2000 WTO protests that were the early prototype of today’s “antifa resistance.” But Portland got the TV show! We’ve »

When Liberalism Collides with Reality

Featured image Poor Connecticut. The nutmeg state didn’t have an income tax for a long time, but finally adopted one in 1991 because of course the state couldn’t possibly balance its budget without one. And naturally the rate has been slowly rising. The state went from three tax brackets to seven two years ago. But guess what? Income tax revenue collapses; Malloy says taxing the rich doesn’t work HARTFORD, Conn. (WTNH)–Connecticut’s state »

Donald Trump Asks a Good Question

Featured image Yesterday the Democrats organized Tax Day rallies across the country, where lefties demanded that President Trump release his tax returns. They generally weren’t well attended, but they achieved their principal purpose, which was to generate headlines in friendly newspapers–i.e., all of them. It was a coordinated national effort, so President Trump asked the obvious question: “Someone should look into who paid for the small organized rallies yesterday. The election is »

Rachel Maddow proves Donald Trump paid $38 million in taxes in one year

Featured image Last October, the New York Times breathlessly published a story called “Donald Trump Tax Records Show He Could Have Avoided Taxes for Nearly Two Decades, The Times Found.” I had always thought newspapers existed to report things that happened, not things that could have happened. But Election Day was near, and Trump had to be stopped. Hence, the Times’ hit piece. It turns out that, far from dodging tax liability »

Fuse Lit on the Pension Time Bomb, and the Next Tax Revolt?

Featured image One thing conspicuously missing from both party conventions is any talk of government debt and deficits. Even Democrats usually acknowledge grudgingly that our deficits are a time bomb waiting to go off, though this is usually in service of their Great White Whale obsession, which is to raise taxes on Great White Males. So it is with considerable interest that I note the increasing visibility of the real-time collapse of »

All Those Years, Prince Was Working for the Government

Featured image Prince probably never thought of himself as a public employee, but it turns out that the main beneficiary of his decades of hard work will be the government. The Heritage Foundation’s Rachel Greszler explains: Although Prince has one full sister and five half-siblings, Prince’s family members will not be his biggest heirs. Both the federal government and Minnesota’s state government will assess so-called “death taxes” or estate taxes on Prince’s »

Liberalism for dummies

Featured image William Voegeli seems to understand modern left-liberalism from the inside. In Never Enough: America’s Limitless Welfare State (2010, foreword by Steve Hayward), Voegeli explains why contemporary liberals can never tell you when you have paid your “fair share” of taxes. It’s a mystery that had always troubled me. Well, they want it all. I wrote about the book in “An old argument revisited” and elsewhere. Bill’s preface to the paperback »

Does Tax Policy Matter?

Featured image The think tank that I run, Center of the American Experiment, released a paper today titled “Minnesotans on the Move to Lower Tax States 2016.” We held a press conference at Minnesota’s Capitol building to announce the report’s release, and it has garnered considerable coverage on television, radio and in newspapers across Minnesota. The report, based entirely on Internal Revenue Service data, found that in 2014 Minnesota lost a net »

Should Conservatives Abandon the Supply Side?

Featured image The iconic moment for conservatives of my generation was the Reagan tax cuts of the early 1980s. Those supply-side cuts fueled a boom whose ripples are still felt today, and refuted liberal economic theories once and for all. Much has happened since then; taxes have gone up and down. But a common denominator is that whenever federal income taxes have been cut, they have also been made more progressive. The »

Trump outbids rivals with tax plan

Featured image Give Donald Trump credit. His tax plan, which calls for big cuts in rates, may not be consistent with his previously articulated vision of taxation, but it is fully in line with his vision of marketing. For him, bigger is better. Trump’s plan would cut the top income tax rate from 39.6 to 25 percent (there would be only four rates, the other three being 20, 10, and 0) and »

Could Gay Marriage Lead to . . . Tax Reform?

Featured image Morningafterwise, we didn’t have to wait long for conjectures like this from Time: Now’s the Time to End Tax Exemptions for Religious Institutions . . .  Rather than try to rescue tax-exempt status for organizations that dissent from settled public policy on matters of race or sexuality, we need to take a more radical step. It’s time to abolish, or greatly diminish, their tax-exempt statuses. Or the New York Times »

Civics lessons from MSNBC

Featured image If gross hypocrisy were a crime, MNSBC anchors would be doing time. National Review’s Jilian Kay Melchior has led the way exposing how MSNBC luminaries including Al Sharpton, Melissa Harris-Perry, Touré Neblett and Joy-Ann Reid have had plenty to say about taxes and “how we’re all in it together,” in spite of their own histories of owing the IRS thousands of dollars. The Free Beacon’s David Rutz explains: MSNBC, the »

What Is It With MSNBC and Taxes?

Featured image Add Toure Neblett to the growing list of MSNBC personalities who don’t pay their taxes: Touré Neblett, co-host of MSNBC’s The Cycle, owes more than $59,000 in taxes, according to public records…. In September 2013, New York issued a state tax warrant to Neblett and his wife, Rita Nakouzi, for $46,862.68. Six months later, the state issued an additional warrant to the couple for $12,849.87. … Last month, New York »

Happy Tax Day, from Remy

Featured image You knew this was coming—Remy on tax day travails (less than 2 minutes long—enough time to fill out one line on your Schedule A): »

Who Pays Federal Income Taxes?

Featured image Today’s Wall Street Journal has an estimate of who paid 2014 federal income taxes. The estimate is from the Tax Policy Center, as official IRS data won’t be available for a couple of years. The Journal headlines, “Top 20% of Earners Pay 84% of Income Tax,” but that actually understates how skewed the tax burden is. This chart shows shares of income and income taxes by quintile. Note that the »