Tax Politics
The Politics of Taxes
Fuzzy Math: How Obama’s Budget Plays With Numbers to Claim Higher Deficit Reduction
Obama's budget for FY2016 claimed $1.8 trillion in deficit savings over a ten year period, 2016-2025. He used PAYGO (pay-as-you-go) rules to determine this figure, which basically means paring tax increases and spending reductions on one side to pay for new spending...
Obama’s $4 Trillion Budget, with $2 Trillion in Tax Hikes
Obama proposed his FY2016 budget on Monday. The budget is filled tax hikes -- more than 20 -- which are expected to fund more spending schemes cooked up by the President. The tax hikes total about $2 trillion in additional revenue over the next decade. "The...
FLASHBACK: the 1913 Tax Return
As we begin tax season, here's something to ponder. 1n 1913, the 16th Amendment was ratified which granted Congress the ability to levy a personal income tax. Below is a scan of the tax form from 100 years ago: That is the first page of the 1913 1040. It is FOUR pages...
What Information Is On the Obamacare Tax Form 1095a?
Since there seems to be increased interest, and confusion, regarding tax filing and Obamacare this year, it is worth it add some more information to help navigate the process. The IRS Tax Form 1095a is officially known as the "Health Insurance Marketplace Statement"....
JFK on Capital Gains
Since we've been discussing it recently.
Anti-business Policies and the Liberty of Risk
Ben Casselman penned a piece a year ago in the Wall Street Journal, which documented the decline of risk-taking in business ventures. Hard data showed that both the number of new companies and the use of venture capital is waning. He rightfully suggested that this...