Category: Taxation

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“GOP” Tax Reform Update 

Axios is out today with a report summarizing the current state of "GOP" tax reform progress. It confirms the following highlighted in an April post on tax reform:  "GOP" tax reform is being driven by Trump democrats Cohn and Mnuchin  Tax reform is much farther along than the "back of the napkin" approach the MSM ...

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China Validates Trump Tax Reform

According to an article in yesterday's WSJ, China is worried that US tax reform could "...trigger a 'tax war' if countries start competing to offer the lowest rates." The article goes on to say: "Chinese auto glassmaker Fuyao Glass Industry Group recently crystallized the concerns of some businesses and officials. In an interview late last ...

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Steven Rattner Lies About Tax Reform

In an NYT Op-Ed on Tuesday, Steven Rattner picked up the baton in the political Left's campaign of lies with regard to tax reform. It's a beauty. "...$5.5 billion of tax giveaways, most for business." Tough to know where to begin with this statement. Using NYT's own analysis, the gross tax "giveaway" totals $6 billion, 62% of ...

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Chuck Schumer Lies About Tax Reform

This morning on Fox News Sunday Chuck Schumer stated the following: The vast majority of Trump's tax reform proposal benefits the wealthy and special interests, citing the repeal of the Estate Tax The Mortgage Interest deduction will go away for middle class taxpayers The "pass through" business tax rate reduction prioritizes owners of hedge funds, ...

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Trump’s “Back of the Napkin” Tax Plan

Rumor has it that in an effort to bolster his "100 Days" image Trump threw together a tax proposal based on a "back of the napkin" outline from a Larry Kudlow/Stephen Moore luncheon. Or a bit more specifically, Trump read a recent op-ed by Kudlow, Moore, Steve Forbes and Arthur Laffer regarding the GOP's lack ...

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Tax Code Complexity

On October 30, 2016, in response to a WSJ article claiming that the "rich" pay more than their fair share of federal income taxes I did a write-up for another blog analyzing the distribution of federal income taxation using 2014 data. That write-up is re-printed later in this post; but first I would like to ...