Tax Politics
The Politics of Taxes
New TIGTA Report Shows Obamacare Revenue Lagging, IRS Snagging
According to the Treasury Inspector General for Tax Admininstration (TIGTA), the 2.3% medical device excise tax enacted to help pay for Obamacare is not meeting targets. The tax went into affect January 1, 2013. The TIGTA report analyzed the returns for the first two...
Tax on Sugar? This is not 1764
On April 5, 1764, Parliament passed something called "The Sugar Act", which, interestingly, had another name: "The American Revenue Act". It was a modification of the 1733 Molasses Act, and it also affected other goods, such as wine and coffee. The Preamble to this...
Savings, Working, and Retirement
A study was released today that showed more than a third of Americans, (36%)a have saved nothing for retirement. That got me thinking about the idea of retirement and the state of retiring in this country. Everyone thinks they can retire at age 65. It’s an American...
The Latest Business Attack on MLPs is Just as Flimsy as the Inversion Crusade
Earlier this week, the business world was chattering about the news that Kinder Morgan, pioneer of the Master Limited Partnership (MLP) business model, was surrendering the MLP structure in favor of a more traditional corporation. This happened last Sunday. While many...
Chuck Todd to Take Over Helm at Meet the Press?
At the end of June, I penned a piece about Chuck Todd with the opening salvo, "You can’t have anyone that stupid be in charge at NBC." Now I hear that Chuck Todd is planning on taking over David Gregory's spot on Meet the Press. That is an utter trainwreck. Chuck Todd...
Congressional Standing to Sue the President
Lately there have been recent discussion about whether or not Congress can sue the President. We have had several occurrences, in fact, where the President has violated the Constitution by overreaching his authority with regard to Congress. In these instances,...