Author Archive

Trump’s Tax Plan and the Deficit

Structurally, Donald Trump’s tax plan is pretty much like every other Republican tax reform proposal.  Nothing really new or exciting to sink your teeth into.  Fewer individual tax brackets, lower rates, elimination of the Alternative Minimum Tax, a lower corporate tax rate, and elimination of the estate tax.  A little hoopla about repatriating foreign earnings […]

Hillary Clinton’s Corporate Profit-Sharing Plan – It’s Nothing to Get Excited About

The last thing government should ever be doing is providing taxpayer-financed incentives to fix things that aren’t broken.  Among her plans to “help” families, including college giveaways, Democratic presidential candidate Hilary Clinton wants to boost middle class incomes by incentivizing firms to share their profits. Under her profit-sharing plan, which she calls “Raising Incomes, Sharing Profits,” corporations that […]

Administration Efforts to Halt Tax Inversions Fall Short

Tax-driven corporate migration from the United States to countries with more favorable corporate tax regimes (which means just about anywhere else) continue, despite new rules put into effect by the Treasury Department last fall to curtail these so-called tax inversions. Fifty-five U.S. companies have been sold to, or targeted by, foreign buyers since the rules were […]

The Greek Debt Crisis: Is There a Lesson To Be Learned?

The Greek debt crisis continues to linger on, as a recalcitrant Greek people unwilling to make the belt-tightening sacrifices asked of them, confront a resolute creditor, the European Central Bank, who seems to feel quite strongly that repaying one’s debts isn’t just some quaint notion from another era. Greece’ debt burden has grown to an […]

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 […]

Obama’s 2016 Budget Proposal: Eliminating the “Trust Fund Loophole”

Ben Franklin, in a letter to a friend written in 1789, famously stated: “Our Constitution is now established, everything seems to promise it will be durable; but, in this world, nothing can be said to be certain except death and taxes.” President Obama appears to be taking things a step further. His 2016 budget proposal […]

Tax Extenders Bill — An Annual Event!

With barely two weeks remaining in the year, the Senate finally got around to passing the tax extenders bill. The bill extends the lives of some 55 tax breaks through the end of the year.  Most of those tax provisions had expired at the end of 2013, but in what has now become a silly […]

Is a Wealth Tax in Our Future?

The inequality “problem” — the growing gap between the very rich and those near the bottom — has become a popular topic of discussion ever since the release of French economist Thomas Piketty’s book, Capital in the Twenty-First Century, earlier this year. It’s over 600 pages long, so I doubt that anyone has actually read […]

Tax Inversions: A Clarion Call for Corporate Tax Reform

The U.S. Treasury Department issued new rules last month designed to make it more difficult for U.S. companies to strike “tax inversion” deals — transactions in which a U.S. company merges with a foreign business located in a lower-tax jurisdiction, and then reincorporates overseas in order to reduce its tax bill to Uncle Sam. Tax […]