They are a lousy team with perhaps the worst owner in all of professional sports, but the Imperial City wants the Redskins nonetheless. As Alex Gold and Ted Gayer of the Brookings Institute write:
Recently, DC mayor Muriel Bowser announced that she has reached out to Dan Snyder, owner of the DC-area NFL team, about returning the team to the Nation’s Capital from its current location in suburban Maryland.
Fine, you think, if they want Snyder and his inept squad, no skin (red or otherwise) off my nose.
But, not so fast. Seems that the governors of Maryland and Virginia are also interested. Thus:
… a bidding war [is] likely, with each location promising a newer and fancier replacement stadium for the team’s current home.
And, in the way of these things:
Wherever the Washington team winds up, there’s little doubt that taxpayers – both locally and across the nation – will be on the hook for much of the stadium’s bill.
It can all be blamed, like so much else, on the lousy, jury rigged tax system:
Even if one buys the argument that local taxpayers win from subsidizing a team to locate in their area, there’s no reason that federal taxpayers should be part of this bidding war. Residents of, say, Wyoming, Maine, or Alaska, gain nothing whether the DC-area football team is lured to Washington or Virginia or Maryland. Yet, under current federal tax law, taxpayers throughout the country will wind up subsidizing the stadium, wherever it’s located. The future home of the DC-area’s NFL team will most likely be financed, at least in part, by the issuance of municipal bonds. Holders of municipal bonds pay no federal tax on the interest income, in effect providing a federal subsidy for the financing of a stadium for Snyder’s team.
Bill Clinton is blaming the Clinton Foundation's accountants for not disclosing the acceptance of foreign donations on tax documents filed with the I.R.S. The former president made the comments in an interview with NBC:
"There was no attempt to hide them," Clinton said. "The guy that filled out the forms made an error. It's not like we didn't tell everybody who gave us the money. The guy put it on the wrong form."
The Clinton Foundation is now admitting that mistakes were made. "[Y]es, we made mistakes, as many organizations of our size do, but we are acting quickly to remedy them, and have taken steps to ensure they don't happen in the future.
The Daily Beast’s Michael Tomasky is celebrating this April 15 by declaring that America is “the most undertaxed advanced country in the world.” He claims that this chart offers proof of his assertion.
In response to this post, several readers have accurately pointed out that a page of the IRS website, posted on March 25, clearly states that, “If you are not required to file a tax return and don’t want to file a return, you do not need to file
UPDATE: Several readers have accurately pointed out that a page of the IRS website posted on March 25 clearly states that “If you are not required to file a tax return and don’t want to file a return, you do not need to file a return solely to claim this exemption.”
Given that Obamacare’s supporters like to take the Congressional Budget Office’s overly optimistic scoring of the president’s signature legislation as gospel, it’s fun to look at how poorly Obamacare is actually doing in relation to earlier CBO projections. When the Democrats rammed Obamacare through Congress in 2010 without a single Republican vote, the CBO said that the unpopular overhaul would lead to a net increase of 26 million people with health insurance by 2015 (15 million through Medicaid plus 13 million through the Obamacare exchanges minus 2 million who would otherwise have had private insurance but wouldn’t because of Obamacare).
Senator Ben Sasse has introduced a law to eliminate the amnesty tax bonuses, according to a press release from his office.
“Presidents should enforce the laws—not unilaterally rewrite them—and it’s time for Congress to hold this Administration accountable,” Sasse says in a statement. “By preventing this Administration from issuing new Social Security Numbers to illegal aliens, the ABE Act would help restore the rule of law and save taxpayers billions of dollars.”
In spite of his own mostly impressive educational pedigree, President Obama has always harbored an anti-intellectual (or, to be generous, anti-academic) streak. Whether insulting art history in a failed appeal to "Real 'Muricans," or developing a philistine "College Scorecard," which reduces the entire value of education to future earnings, it's become apparent that in the president's estimation, American higher education should basically be a network of pretty good trade schools. You know, the kind of place where the “folks” drop their G’s when engaging in conversation.
Republicans have been tripping over one another to slag President Obama’s tax proposal, made in his State of the Union address, to repeal the step-up in basis on inherited wealth and use the revenue it would generate to increase the child tax credit and pay for free community college. While it’s almost Pavlovian for Republicans to attack any Obama tax proposal, this one actually contains the seeds for a radical tax reform that would be much more conducive to economic growth than anything currently on Paul Ryan’s desk.