TAX POLITIX
The Politics of Taxes
1600 Pennsylvania Avenue and 1600 Days Without a Budget
Today we have reached 1600 days without an operating budget for our country. But who’s actually counting right now? And why should we care? Currently, we have Syria at the forefront of discussion, which has put any substantive monetary debates on the back burner. Besides the question of whether or not to authorize and spend money on Syria, Congress also faces both if and how to fund the government past September 30 in the form of a CR, whether or not to defund Obamacare, and what to do with...
Why “Prevailing Wage” Theory is Not the Answer
The recent ruling in finding NYC’s prevailing wage unconstitutional was the correct decision. Bloomberg understands the fundamental economic premise regarding paying a wage what the market dictates the worker is worth. Those that support the prevailing wage policies do not. It is both unfortunate and dangerous, because implementing a prevailing wage has two effects: 1) it devastates the very people its proponents think they are helping and 2) it erodes NYC’s economy by creating more barriers...
Disparate Impact Practice and the IRS
The idea of “disparate impact” is a poisonous cancer that has taken root as an important concept in the business world. If we do not end it soon, it will continue to grow, extorting huge sums from innocent companies, creating an enormous economic burden on society, and allowing the tort bar to run amok. Under disparate impact, there are many areas in business where charges of “discrimination”, often regarding race, could and are being made every day. Employment and mortgage origination are two...
The Chicago Tribune Discovers the Emperor Has No Clothes
The Chicago Tribune has published a Sunday editorial calling for Obamacare to be re-written. The Chicago Tribune. The Tribune goes through the myriad of delays that the Administration has announced in the last few months, contrary to the actual written law, and then they go further. They question the ability of Obama to actual ignore parts of the law he deems inconvenient or difficult to implement under the dates created by Congress -- and signed into law by Obama himself. "The administration...
Seblius on Obamacare: This is the Law of the Land (except when it’s not)
Eye-opening words of HHS Secretary Sebelius yesterday: "This is no longer a political debate; this is what we call the law,” Sebelius told a group that includes Democrats and Republicans, elected officials, political appointees and bureaucrats. “It was passed and signed three years ago. It was upheld by the Supreme Court a year ago. The president was re-elected. This is the law of the land.” Except when it is not. If this is the law of the land, why is our President of the United States...
Detroit is Not Too Big To Fail
Detroit is not too big to fail. The city of Detroit must take its lumps, as difficult as they may be to swallow. But the city of Detroit is to blame. They made a very bad calculated error. They thought their decades of cronyism and sweeping promises were good and economically viable. The people didn’t realize, or really didn’t care, that they were sold a lot of snake oil from public service sectors and unions that were promised too-good-to-be-true benefits and rewards. But Detroit must not be...
Obamacare Continues to Falter
Reuters is reporting today that Obamacare is in dire straits down for another reason: security. The government has missed important deadlines for implementing the proper measures in order to safeguard our information. "CMS - the agency within HHS that is running Obamacare - had set a May 13 deadline for its contractor to deliver a plan to test the security of the crucial information technology component. A test was to have been performed between June 3 and 7. But the delivery deadline slipped...
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