Tag Archive: Taxation

The Taxman Taketh

This is pretty fucking outrageous:

A few weeks ago, with no notice, the U.S. government intercepted Mary Grice’s tax refunds from both the IRS and the state of Maryland. Grice had no idea that Uncle Sam had seized her money until some days later, when she got a letter saying that her refund had gone to satisfy an old debt to the government — a very old debt.

When Grice was 4, back in 1960,

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The Tax Man Cometh Again

Remember, as you read through these stories, the cardinal rule of government: everything you have is theirs. If you have such a thing as “take-home pay” it’s only because of their generosity in allowing you to take it home. Sort of the way a highwayman might let you keep enough bread to feed your family while stealing everything else.

First, Chicago. The city of Chicago has figured out what every economist knows: when … Read more

The Somalia Canard

In Josephine County, Oregon, a woman was recently raped by her ex-boyfriend while she was on the phone to 911, begging for help which never came. I’ll forgo the usual “this is why we have the second amendment” point to concentrate on something a little different.

The Sherriff’s office is blaming the lack of response on recent budget cuts and the refusal of the citizenry to support a tax hike. But as Radley Balko points Read more

What is missing from these NYT articles?

The NYT has a couple of articles one dealing with the pain the tax hikes have caused and another with how the lower income people where hit the hardest. And conveniently the NYT forgets to mention the “WHO” and “WHY” of it all in either piece. I am sure if they thought they could get away with it they would blame Boosh, but by now this tired and false excuse doesn’t even work with … Read more

Fiscal Cliff I: The Search for More Money

As Thrill noted, the so-called fiscal cliff was semi-averted last night. I didn’t pay too close attention to the debate since the basics of the deal had been hashed out days before. All we had last night was political theater. It’s true that 2/3 of the Republican House voted against it. But they allowed it to come to a vote and most voted after they were sure it would pass as an ass-covering maneuver. I’m … Read more

Why doesn’t Obama know?

When the WH economists know that Bush Tax cuts are not responsible for deficits? Here is the pertinent section:

Turn to Pages 411-413 of his 2012 Economic Report of the President, published by the Council of Economic Advisers. They show that “the math,” as Obama is wont to say, in fact does add up for tax cuts.

After President Bush in late May 2003 signed the largest tax cut since President Reagan — including

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Sunday Six Pack

NPR recently had group of economists discuss policies that they think are great for the country but that politicians consider radioactive. The group of economists was actually quite diverse, ranging from George Mason libertarian (and frequently linked Cafe Hayek blogger) Russ Roberts to Cornell liberal Robert Frank. What six policies could that group possibly agree on? And why wouldn’t politicians embrace policies that enjoy such a broad consensus?

One: Eliminate the mortgage tax deduction, which

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The Ex-Pat Act

It seems that every week brings some stupid/repulsive piece of legislation out of the Democratic “leadership”. A few weeks ago, it was the repellent People’s Rights Amendment. Then last week, it was the Trayvon Amendment. And now, it’s the Ex-Patriot Act:

Facebook co-founder Eduardo Saverin has gone ahead and given up his U.S. citizenship before the social network’s IPO, thereby saving an estimated $67 million in taxes, and personally pissing off our nation’s leaders.

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Futile Gesture

Feeding the beast, the ever ravenous appetite of government spending waste has been the largest impediment to fiscal solvency. The mantra of this administration, couched in deceptive terms like ,”Paying their fair share”, has always been income equality. But raising taxes only leads to more spending, which leads to even more calls for raising taxes, all the while the junkie gets more smack, and the drug problem goes unanswered.

Some liberal do gooder (at least … Read more

Mythologizing the Myths

Kevin Drum has a post up addressing various “Right Wing Myths” about the economy. Some of these myths are self-refuting: he claims the stimulus worked because economic models indicate that it should have worked, he repeats the claim that 1937 proved Keynesian theory (ignoring that 1946 refuted it), he pretends that the Reagan tax cuts didn’t stimulate the economy, he ignores an anti-correlation between unemployment and profits, he claims that since a narrow plurality cite … Read more

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