Yellen says US opposed to global tax on billionaires
Treasury Secretary Janet Yellen said the United States does not support a global wealth tax on billionaires, opposing proposals put forward by Brazil, France and other countries. Brazil, which holds the rotating presidency of the Group of 20 (G20) this year, wants the organization to adopt a unified approach to taxing the ultra-wealthy. The world’s […]
Cohen was already a perjurer, fraudster and tax cheat — now he’s also a thief
On Monday, under another round of intense cross-examination, former Trump lawyer Michael Cohen admitted to stealing $60,000 from the Trump Organization. From February to December 2017, Cohen was paid $35,000 a month by the former president. Manhattan prosecutor Alvin Bragg suggested that Mr. Cohen was in fact unable to hold any real work as Mr. […]
Hunter Biden wants tax trial pushed to September, despite judge warning of no ‘significant delay’ plans
His eldest son, Hunter Biden, wants to delay his Los Angeles trial on federal tax charges by more than two months, even though a judge previously warned there were no plans for “significant delays.” President Biden’s son last week filed a lawsuit against U.S. District Judge Mark Scalsi on June 20, citing scheduling conflicts with […]
Yellen bats down proposal for global wealth tax for billionaires
Treasury Secretary Janet Yellen said she does not support a proposal that would impose a global wealth tax on the wealthiest billionaires. Yellen opposes the proposal, put forward by Brazil, which is leading the Group of 20 major economies this year. German, Spanish, and South African officials have also discussed the proposal, which aims to […]
Biden’s capital gains tax plan is theft, pure and simple
Golt’s Gulch was a secluded community of innovators and businessmen who participated in the “Great Strike” described in Ayn Rand’s book. “Atlas shrugged..” They fled to escape a society that stifled innovation, imposed excessive regulations, and confiscated the fruits of their labor.president Joe What should Mr. Biden focus on? did it Occurs when a society […]
Youngkin vetoes bills on birth control and Confederate tax break removal
Gov. Glenn Youngkin (R-VA) vetoed 48 bills on Friday, including one surrounding contraception and another that would have removed tax breaks for some organizations. Among the nixed bills was SB 238, which defined contraceptives such as IUDs and Plan B and would have protected their use by requiring that insurance companies provide coverage for them. […]
Voters want to tax outrageous CEO pay. Are lawmakers listening?
For decades, I’ve been conducting my own informal research on Americans’ views on CEO pay. Whenever family, friends, or strangers ask me about my job, I tell them it involves investigating executive compensation. For example, last year I realized that: CEOs of America’s 100 Largest Low-Wage Employers On average, it’s more than 600 times the […]
The looming Biden tax hike
Democrats will use a misleading Congressional Budget Office report earlier this month to argue against extending 2017 tax cuts that jump-started the economy. Congressional Republicans would be wise to push back. Former Vice President Mike Pence is urging them to do just that, writing that failure to renew the tax cuts “would be disastrous for […]
Is the Fair Tax in Our Future?“
Critics of Donald Trump once counted tax evasion among his many faults. But it turned out that he wasn’t breaking any tax laws. He was simply utilizing the complex web of exemptions, deductions and other rules available to reduce his tax bill to near zero. It would be hard to imagine a worse tax system […]
US Government Interest Payments v. Tax Receipts, Average Interest on Treasury Debt, & Debt to GDP
Spiking Interest payments will hopefully, knock on wood, force the drunken sailors in Washington to go through detox. The gigantic US government debt is now approaching $33 trillion, amid a tsunami of issuance of Treasury securities to fund the mind-blowing government deficits and roll over maturing securities. At the same time, the Fed has hiked its […]