The top 400 American taxpayers pay more in federal taxes than the bottom 70 percent of U.S. taxpayers combined. The previous truth is a friendly reply to Cliff Asness and Michael Mendelson’s recent Wall Street Journal opinion piece in which they critiqued Mitt Romney’s surely misguided call to tax rich people like him more. […]
Please Cliff Asness, Don’t Let Mitt Romney Off So Easily Read More »
It’s a wealth-losing shame of enormous proportions that Social Security will never go insolvent. It will cost the typical American millions in retirement wealth. Yes, the absurdity of the notion that Social Security faces insolvency in 2035 is incredibly harmful for all working Americans. That’s because the surest sign future Social Security payments are
Since the Rich Are Overtaxed, Americans Won’t Get to Escape Social Security Read More »
Amid the worst stretch of the global political panic over the coronavirus, the U.N.’s World Food Program estimated that 285 million of the world’s poorest were on a rapid path to starvation. To even partially vivify the previous truth, white flags were increasingly visible in El Salvador’s mass of hovels; the white flags a
Congress Contemplates What Might Be the World’s Cruelest Tax Read More »
It’s so easy to forget that Congress taxes us not so that it can stare at our money, but to spend it. Which means every dollar Congress extracts in taxes is an extra dollar of control politicians have over the economy. It’s something to think about as President Trump threatens to repeal Harvard’s tax-exempt
A Tax on Harvard and Harvard Professors Is a Tax on You Read More »
While there’s no evidence that Albert Einstein uttered the quip long associated with him about compound returns as the “8th Wonder of the World,” it’s not unreasonable to imagine the genius wit saying something just like that. When it comes to savings, compounding has wondrous qualities that become magical over time. That’s why the patient investor can
When Buy-and-Hold Results In Capital Gains Taxes on Retirement Read More »
A federal tax levied on a New York City resident is a tax on a Floridian. The previous truth is rarely discussed by economists and pundits focused on Floridians who’ve escaped blue state taxes, but it’s true nonetheless. To see why, stop and contemplate the national implications of taxes paid by private equity multi-billionaires
A Tax On Stephen Schwarzman Is a Tax On Us All Read More »
