Three Policies That Gave Us the Jobs Economy
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Amity Shlaes on what sparked the job growth of the 1980′s.
The era didn’t start well. The mid-1970s were a dead period. Then suddenly, from 1977 to 1978, new private capital devoted to venture capital increased by 15 times, to $570 million in 1978 from $39 million the year before.
In …
The Buffett Rule is Unfair (and I Oppose It)
President Obama is proposing a new principle: the “Buffett rule”
President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials.
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A Deficit Neutral Health Bill Isn't Enough
Greg Mankiw explains the spending problems with the healthcare bill through a short, imagined dialog between two friends. Here’s the kicker:
Even if you believe that the spending cuts and tax increases in the bill make it deficit-neutral, the legislation will still make solving the problem of the fiscal imbalance harder, because it will …
Health care requires error free tax returns
This morning, the Wall Street Journal reported on another one of the goodies that’s buried in the House healthcare ”reform” bill. If the bill passes, the IRS will fine you for any mistakes you make on your tax returns.
Under current law, taxpayers who lose an argument with the IRS can generally avoid penalties …
Taxing Paris Hilton
From Boston Gal’s Open Wallet:
Today’s Christian Science Monitor explains: Why the rich get the most tax goodies.
He suspects one reason Americans tolerate tax cuts favoring the wealthy is that many anticipate becoming rich themselves and thereby benefiting.
It is true …
Why the TPA Failed
Republicans in the Assembly and the Senate failed to pass the Taxpayer Protection Amendment. Owen looks at what went wrong.
The bottom line is, the Republican leadership in Madison failed to step up, fight hard, and actually promote conservatism. If we want to pass this thing, we’ll have to keep fighting at the grassroots. The only …
Irreducible Complexity?
The biggest problem with our current tax code is that it’s too complex. Millions of hours worth of effort are wasted every year calculating who owes what, to whom, for what, in what quantities. Every year Congress makes the entire enterprise more complicated. For instance, after Hurricane Katrina, Congress wrote all kinds of breaks into …
Union Opposition
Owen reported on two form letters that were sent to the state legislature, criticizing the Taxpayer Protection Amendment. One form letter was signed by leaders of city governments, the other was signed by leaders of county governments. Fortunately, my neither my alderman nor my County Board Supervisor signed it.
The more interesting part of this entire …
The Need for Tax Reform
I saw this article earlier in the day and wanted to blog on it. Unfortunately, getting my wisdom teeth pulled and being on pain meds made blogging a risky proposition. Owen (of Boots and Sabers) wrote that the study mentioned in the article confirms the need for the Tax Protection Amendment. He said exactly what …