Taxes are routinely awful, and annually unearth dread in all of us as we cower before Congress’s outsourced tax collector (the IRS). We do so while trying to grasp the meaning of a tax code that attains its lucrative vitality for congressmen and senators via its total incomprehensibility to us. Despite that, taxes paid […]
Taxation Is Easily the Least Harmful Aspect of Government Spending Read More »
Responding to me, Duke professor Michael Munger writes that, “If the real hawks like John Tamny get their way [full SALT deduction], with the cap going up to $100,000 or more, the loss in tax revenue could top a trillion in the next ten years.” To be clear, I don’t think Munger thinks we
Replying to Michael Munger Replying to John Tamny On SALT, Debt Read More »
The Illinois Policy Institute’s Brad Weisentein wrote at RealClearMarkets last week that there are at least 32,000 former government workers in the state of Illinois who can claim $100,000+ income from the state’s pension systems. Of the state’s 239,384 pensioners, Weisenstein reports that their average annual retirement income amounts to $93,558. It’s worth adding that according
$100,000+ State Retirees In Illinois Speak to the Urgency of a SALT Credit Read More »
West Virginia must be rich, right? All that federal money that flows there year after year. Hopefully readers see the obvious flaw, or contradiction. Government spending saps economic growth, by its very description. Precisely because it signals the central planning of market goods, services and labor by politicians, it’s economically harmful. Only an economist
John Maynard Keynes Resides Inside Right-of-Center SALT Critics Read More »
People in Texas pay taxes too. So do workers in Florida, Tennessee and other states that don’t impose an income tax. This has seemingly been forgotten in the ongoing debate about state and local taxes (SALT), and the deduction of those payments against federal taxes paid. It’s a reminder that when the Tax Cuts
SALT Shrinkage Is Bad for Red State Taxpayers Too Read More »
