WILFORD: The Debate Was Devoid Of One Of America’s Most Pressing Issues — National Debt
Whoever wins the 2024 election will have a thankless task ahead of them: figuring out how to get through an extension of a tax cut bill that no one is willing to throw out the window in its entirety, while keeping in mind a looming and growing national debt crisis. This task is hard enough […]
WILFORD: Nobody Asked For The New IRS Direct File Program
The IRS has made a habit of late of doing whatever it wants, with little regard for legal or constitutional constraints. From its lackadaisical attitude toward its failure to properly safeguard thousands of tax returns to repeated Supreme Court rebukes to half-baked plans to snoop on taxpayers’ bank accounts, the agency is developing a reputation […]
WILFORD: ‘Taxachusetts’ Feels Millionaire Tax Sugar Rush, But The Crash Is Coming
This past tax year marked the first year in which Massachusetts’s new “millionaire tax” — a four percent surtax on income over $1 million earned in the state — hit Massachusetts taxpayers. With the new revenue rolling in, the surtax’s proponents have begun to declare victory over critics who warned that the tax would only […]
WILFORD: State Tax Rule Changes Could Save Headaches Nationwide
Most taxpayers by now have filed their state income tax returns (or, if they haven’t, they should have). While that’s never a fun or convenient process, taxpayers with the misfortune of having income tax nexus in multiple states had it a bit harder than everyone else. Those taxpayers were required to file an income tax […]
JENNINGS & WILFORD: Republican Study Committee Provides Badly Needed Alternative To Biden’s Budget Blowout
Having signed into law a spending package totaling $1.2 trillion, President Biden recently released his proposed budget for fiscal year 2025. Rather than offering the bold leadership required to avert an impending fiscal crisis, Biden’s proposed budget promises more taxes, more debt and more fiscal irresponsibility. Fortunately for taxpayers, there’s another blueprint available that makes […]
WILFORD: SALT Advocates’ Latest Unconvincing Angle
A small but vocal group of lawmakers in the House of Representatives continues to push for higher limits on state and local tax (SALT) deductions. However, the only changes to the SALT deduction that should be discussed should be reductions, not increases. The SALT deduction allows taxpayers to deduct certain taxes paid to state and […]
WILFORD: Americans Continue To Have Worryingly Bad Ideas About Price Controls
It's comforting to imagine that a terrible idea will be tossed into the dustbin of history after it proves to be terrible. Unfortunately, the willingness of many Americans to embrace price controls as a solution to inflation proves that this is not the case. Inflation is It's gotten noticeably cooler lately.But many Americans still see […]