Tax Politics
The Politics of Taxes
Herman Cain’s Social Security Problem
Though I applaud the refreshing boldness that Mr. Cain had shown by proposing to America an actual plan for tax reform, there are two serious drawbacks to his solution that show his fiscal naivete. Most critics would point to the unsavory proposal of having both a...
Clyburn’s Super Committee Super Failure
Senator James Clyburn's (D-SC) appearance on Fox News Sunday on November 13 regarding the Super Committee was a disgrace. If he is representative of the Democrats on the committeee, there really is no hope that any meaningful conclusion can be reached by November...
The Gift Tax and the Super Committee
There are rumors circulating around the country that the Congressional Super Committee may take action that would immediately repeal the $5 million gift tax exemption by Thanksgiving. This is sending countless tax lawyers and accountants scurrying to complete gift...
The Buffett Rule, AMT, and Tax Reform
Why would the President, in this sluggish economic environment, add huge tax complications just for temporary items? Bowles-Simpson, published nearly a year ago, urged Congress to consider revisions to the tax code. Momentum for this proposal has gained...
Capital Gains and the Wealthy
The concept of an American President going after people making a lot of money and paying a relatively low tax rate on it is particularly naïve; it displays an absolute lack of familiarity with how people get wealthy. As a CPA, I can attest to the fact that the most...
Occupiers and Crony Capitalism
The most irksome thing about the Occupy Wall Street (OWS) movement is the phony crony capitalist fever going on. The truth of the matter is that, if OWS individuals were honestly seeking to engage and change, and really understood how capitalism works, they'd...