Early Harbinger of Taxes to Come

As a California citizen, I’m none too pleased by this possibility: Gov. Arnold Schwarzenegger on Thursday proposed $4.4 billion in new taxes and a similar amount in spending cuts to deal with California’s worsening fiscal crisis, saying, “We must stop the bleeding.” Much of the new revenue would come from a 1.5-percentage-point increase in the […]

America’s Tax System the Most Progressive

This is fascinating, and vital information: Barack Obama’s admission that his policies would “spread the wealth around” has ignited a nationwide discussion of how progressive the tax system should be and how it should be used to redistribute income among Americans.  Obama has been very successful in bolstering the conventional wisdom that the U.S. tax […]

If You Can’t Beat ’em, Join ’em

There’s something positively Atlas Shrugged-like about the image of laid-off Wall St. brokers lining up around the block to apply for work at the Internal Revenue Service: Benjamin Franklin said that nothing in this world is certain except death and taxes. When death is not an option and the world is maximizing the uncertainty, taxes look […]