Tax Politics
The Politics of Taxes
Federal Tax Revenue Breaks Record For Monthly Receipts
The federal government set an all-time record for monthly tax receipts this past April. The Congressional Budget Office (CBO) reported that nearly a half-trillion dollars was received -- $472 billion to be exact. April is typically a high revenue month because yearly...
The Golden Opportunity Time Between 65-80
Everyone thinks they can retire at age 65. It’s an American ideal born in the last century with the rise of unions, the defined benefit plan, and generous pension systems. In reality, especially due to advances in health, medicine, and nutrition, many people have...
The IRS’s Growing Role as “Rules Interpreter”
A recent article by the National Review brought to light how the IRS has taken on the role of “rules interpretation” in recent years, which is beyond its scope as the nation’s tax collecting agency. The most notorious example of this new role is highlighted in the...
TIGTA to IRS: You Got (More) Mail!
The Treasury Inspector General for Tax Administration (TIGTA) found even more missing emails from Lois Lerner among the recycled back-up tapes, which has provided now about 35,000 emails that were deemed lost and destroyed. This new batch of roughly 6,400 emails is...
The Great Wealth Switch: How the Public Sector Became Wealthy
People have traditionally measured wealth by the amount of tangible assets they have. Viewed from this perspective, many people who have saved substantially for their retirement through an IRA, a 401K, or other profit sharing plans, (all in the category known as...
How Much Each Taxpayer Owes Toward the Federal Debt
Forbes recently had a very good article which explores the US Federal Debt and how it affects economic growth. It also reviews government debt for the future, and its affect on the private sector and the debt-to-GDP ratio. Unfortunately, it doesn't cover the entirety...