September 22, 2011
From the President down to the water cooler, we hear that Warren Buffet pays a lower tax rate than his secretary. That is simply untrue.
The fallacious statement is based on the assumption that his secretary pays about 25% of her income in FICA and income taxes while Buffet pays a 15% rate on capital gains and qualified dividends. It sounds terribly unfair, but it ignores the double taxation of investment income.
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April 4, 2010
This is a reposting of an editorial I wrote for the LPVA newsletter in 2003, which is timely again as tax season approaches and which someone has been trying really hard to find for some reason. I hate to disappoint anyone who tried to google this essay in a half dozen different forms. So, here’s an old but goody. Read the rest of this entry »
March 8, 2009
Though it is masked as a measure to save the Earth from Anthropogenic Global Warming (which is equivalent to saving the Earth from equally non-existent Martians) President Obama’s largest tax increase, his Carbon Cap-and-Trade Tax is aimed squarely at those who can least afford it. But what else should we expect from an administration which subordinates economics to ideology on every single issue? So, how did the President set out to tax the poor, and middle class, to destruction? By placing a huge tax on those nasty coal and oil companies. Read the rest of this entry »
April 14, 2008
It’s tax day again, for many a last minute drive to the Post Office to grudgingly submit to our annual inquisition by the IRS. The Income Tax stands for all that is wrong in America, and is the primary cause for the downfall of our nation, being responsible for much that is wrong in Congress, the decline of the US as a manufacturing giant, and worst of all, setting Americans against each other with the politics of envy.
But this should be no surprise, after all, the father of the modern income tax is none other than Karl Marx. Read the rest of this entry »
January 26, 2008
With the General Assembly looking into fixing the mess they made last year with the HRTA plan, it is a good time to reconsider how we should be paying for roads and other infrastructure, and how we have strayed from those traditional principles of good government.
The tradition, based in justice and sound economics, was for roads to be paid for by user fees rather than general taxes on income or property. Read the rest of this entry »