. . . we would have a fascinating, first-hand history of the roller-coaster first century of federal income taxation.
All those millions that CEOs and hedge fund managers have grabbed over recent decades? Our current tax code won’t let us grab them back.
The Bush years gave America’s rich new and unprecedented preferential treatment at tax time. The fiscal cliff deal enacted in the early moments of 2013 leaves that preferential treatment in place.
In the “fiscal cliff” debate, America’s super rich aren’t aiming to get us to oppose higher taxes on the nation’s highest incomes. They’re just hoping to keep us distracted.
Take all that post-election commentary about foolish billionaires and wasted millions in political contributions with a grain of salt. Our billionaires don’t have to actually win on Election Day to get their way.
Candidates this fall are taking plenty of pokes at the financial industry’s best and brightest. But they could be doing a lot more than poke. They could push to start taxing Wall Street.
The United States already sports an exceedingly rich people-friendly tax structure. But America’s rich have far more friendly tax models in mind. Like Singapore.
The movers and shakers of scandal-ridden Wall Street are busy scapegoating a ‘few rotten apples’ — and hoping the rest of us don’t notice they’re still holding billions in ill-gotten gains.
Robin Hood would not be happy if he happened upon our incredibly top-heavy modern world. But the new campaign to levy a tax on speculative trading would most likely have him breaking out in smiles.
\Over two years ago, the IRS announced an ambitious new effort to subject the super rich to unprecedentedly intensive audits. How’s that effort working out? Most lawmakers would rather you not ask.