Social Security is in Worse Shape Than Originally Thought! What a Surprise…Or is It?

Researchers at Harvard and Dartmouth Universities have concluded that since 2000, the projected health of the Social Security trust fund has been rosier than it actually is.  The official word from the Trustees report is that the Social Security trust fund will be exhausted in 2033, meaning that benefits would have to be cut by 25 […]

James Rickards on the Financial Crisis

For those of you who missed the NCPA event featuring Jim Rickards, author of The Death of Money, guest blogger Larry White attended the event and has provided details of Rickards’ speech in two blog posts from his own site, Lonestar Whitehouse: Summary of Jim Rickards’ Dallas speech – Part I Summary of Jim Rickards’ […]

Minimum Wage and the Quaint Little Diner

I had the pleasure of vacationing in southern Utah last week and spending time in a couple of their breathtaking national parks.  I have been to several remote parts of the United States, but I have to say that the “otherworldly” landscape of Bryce Canyon and Zion National Parks, as well as the few towns […]

Does Extending Unemployment Benefits Really Help the Unemployed?

The Emergency Unemployment Compensation (EUC) program, introduced during the Great Recession, provided the long-term unemployed a maximum 99 weeks of benefits. The program ended in December 2013, and Congress decided not to reauthorize the unprecedented benefit extensions. Recent studies show that the economy had not been affected by the benefit cut, and unemployment kept decreasing thereafter. […]

Busy Week In Congress on a Number of Tax Bills

This week, the House of Representatives is working on a number of tax-related bills (in celebration of April 15).  Two of them, in particular, will directly affect future tax returns: H.R. 1105 – Death Tax Repeal Act of 2015:  Would “repeal the estate and generation-skipping transfer taxes for estates of decedents dying or for transfers made on […]

Tax-Related Identity Theft – A Real and Growing Problem

The first tax deadline is just hours away, and many individuals needing extra time will file extensions.  But some who have electronically filed their returns are surprised to receive notice that a tax return for them has already been submitted — by somebody who is not the taxpayer. This tax-related identity theft is a real […]

Let’s Not Talk About Those Unemployment Numbers…

Last week, the Bureau of Labor Statistics released their unemployment statistics for March –  on a Friday, of course, without much fanfare.  The first paragraph of the press release reads: Total nonfarm payroll employment increased by 126,000 in March, and the unemployment  rate was unchanged at 5.5 percent, the U.S. Bureau of Labor Statistics reported today.  […]

Constitutional Challenge to FATCA

Earlier this month, Jeff Lerner wrote about the Foreign Account Tax Compliance Act, a pesky law that requires foreign financial institutions to report to the IRS on bank accounts (not just income, but transaction records) held by Americans in their countries.  Reporting requirements have evidently forced many overseas financial institutions to drop American bank accounts due to […]

Piketty Backtracks a Bit

Last year, French economist Thomas Piketty’s book on the causes of income inequality became the rallying cry by people on the left for a tax on the wealthy.  However, many intelligent and thoughtful individuals (including NCPA blogger Jeff Lerner) disagreed on what Piketty pointed to as the cause of income inequality – mainly, that as the return on capital […]