1:48 PM, Apr 18, 2014 • By GEOFFREY NORMAN
Charles Thomas of ABC’s WLS in Chicago reports:
A plan to spend $100 million to build a Barack Obama presidential library in Chicago has taken a step forward. Thursday an Illinois House executive committee approved House Speaker Michael Madigan's bill to construct the library honoring President Obama. Despite the state's precarious fiscal situation, this bill sailed through the committee by a nine to zero vote.
That “precarious” is a nice way of saying “broke” and “bankrupted by the corruption of its political class.”
The high-minded like to call taxes “the price we pay for civilization.”
In Illinois, they call them something else.
1:28 PM, Mar 5, 2014 • By GEOFFREY NORMAN
When you spend in the trillions and run deficits in the (many) billions, then you look for the millions where you can find them.
Tax the gross receipts of multinational companies in each of the countries in which they are earned.12:00 AM, Feb 22, 2014 • By IRWIN M. STELZER
Some three hundred years ago Sir Walter Scott asked, “Breathes there a man with soul so dead who never to himself hath said, This is my own, my native land.” Well, in America corporations are legally deemed “persons,” so the answer to Scott’s question is “Yes,” at least when it comes to tax payments. In this globalized world corporations are “multi-national,” run by executives who may never have set foot in the lands they declare to be “home” for tax purposes. Nothing illegal about it all: These firms play by the rules written for them by the governments in which they do most of their business. And their executives do have a fiduciary obligation to the owners of the business, their shareholders, to minimize their tax payments to the greatest extent possible within the law. Moreover, to some extent their continued search for benign tax regimes puts something of a limit on the ambitions of national tax collectors, witness the unhappiness of France with the low taxes on offer in Ireland, which is coming out of the recession in which over-taxed France remains mired.
3:20 PM, Feb 21, 2014 • By GEOFFREY NORMAN
The movies folks responsible for the making of House of Cards seem to have been reading their own reviews or taking a page out of their own (ludicrous) scripts. Or something. As Jenna Johnson of the Washington Post reports:
8:03 AM, Feb 11, 2014 • By JERYL BIER
New IRS commissioner John Koskinen is beginning his tenure with some blunt words: If you need IRS help on the telephone, be prepared to wait -- a long time. The IRS posted a YouTube video of the commissioner's message to taxpayers as the pace of the 2014 filing season picks up.
A better approach to poverty.Feb 10, 2014, Vol. 19, No. 21 • By ELI LEHRER and LORI SANDERS
President Obama’s State of the Union speech brimmed with ideas to increase upward mobility and spur job creation—most of which have been tried previously, without good results. From calling on Congress to raise the minimum wage to announcing the creation of six new “high-tech manufacturing hubs” centered around research universities, too many of these ideas flow from misplaced confidence in the ability of top-down government policy to steer the economy and lift the circumstances of those in poverty.
3:17 PM, Jan 26, 2014 • By DANIEL HALPER
The boss reported this morning on CBS that Republicans will unveil an alternative to Obamacare tomorrow in the Senate:
Said host Bob Schieffer, "Bill, you actually have some news, I understand, because you've learned that the Republicans are going to, what, present an alternative to Obamacare?"
11:27 AM, Dec 27, 2013 • By GEOFFREY NORMAN
Seems that New York is about to be overtaken by Florida as the nation’s third most populous state. As Jesse McKinley of the New York Times reports, this is:
10:56 AM, Nov 7, 2013 • By GEOFFREY NORMAN
Their betters from both coasts spent big to enlighten the people of Colorado which, east of the Hudson, is considered one of those square states full of primitives who don’t know what is good for them.
9:45 AM, Nov 7, 2013 • By JERYL BIER
A report issued in September and released this week by the IRS's Treasury Inspector General for Tax Administration (TIGTA) found continuing problems with the agency's Volunteer Program, which provides free tax preparation and electronic filing for "low- and moderate-income, elderly, disabled, and limited-English-proficient taxpayers."
5:22 PM, Oct 24, 2013 • By DANIEL HALPER
Senate majority leader Harry Reid says that "Everybody" is "willing to pay more" taxes. He said so in an interview with a Nevada Public Radio host.
In reducing the role of government in the economy, the U.S. is a laggard. Oct 14, 2013, Vol. 19, No. 06 • By IKE BRANNON
For much of the last century the United States was the world’s beacon for capitalism, but these days we’re far from such a lofty perch. Since the end of the Cold War, countries on both sides of the Iron Curtain have moved to reduce the role of government in the economy by changing the tax code as well as by privatizing government activities.