This was first published on The Washington Monthly’s site on May 25, 2013. I have three laws of politics. I don’t know if they explain everything, but they often explain something, and that’s enough for me. Malanowski’s First Law of Politics is that the rich and powerful will always act in their own self interest. …
The more I learn about the so-called IRS tax scandal, the more I pity the IRS. When this story broke, the story was billed as President Obama was using the IRS against his political enemies. Well, that’s a bad thing! It was so reminiscent of Richard ordering the IRS to go after his political enemies, …
With the premiere of Iron Lady approaching at the end of December, we are certain to be treated to a heavy dose of Margaret Thatcher‘s greatest hits. None will be more pertinent to the issues of this moment that the point she made in her final Question session as prime minister in 1990, shown in …
Did Grover Norquist blow it a little bit yesterday when he played the “what the meaning of `is’ is” game with his famous No New Tax Edict, which he wields over Republcians faithful like a scythe? Plain as a guillotine, the edict requires all Republican candiates to forswear raising taxes while in office. First, he …
As Lori Montgomery reports in the Washington Post, “Senate Republicans are rolling out a plan to permanently extend an array of expiring tax breaks that would deprive the Treasury of more than $4 trillion over the next decade, nearly doubling projected deficits over that period unless dramatic spending cuts are made. The measure, introduced by …
There was a set of astonishing statistics in the New York Post today, in an article by Michael Snyder: According to a 2009 poll, 61% of Americans “always or usually” live paycheck to paycheck, up from 43% in 2007. 43% of Americans have less than $10,000 saved up for retirement. 36% of Americans say that …
Just in time for tax season comes the report in yesterday’s New York Times that the top 25 hedge fund investors earned a collective $25.3 billion (with a B) in 2009. This includes seven who earned more than $1 billion, one of whom, David Tepper of Pittsburgh (pictured), earned a record $4 billion. “We bet …
WHY AREN’T WE TAXING THE SNOT OUT THE HEDGE FUND MANAGERS? Read More »
Although every year April brings the start of baseball season and tax season, this year the two events seem more commingled than coincidental. In New York, two new taxpayer-subsidized stadiums are opening. One, the home of the New York Mets, is Citi Field, Citicorp having bought the naming rights back before the crash, when its …