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Republican Tax Reform Did Little To Solve US Progressive Tax System

The Current Tax Code is Broken - Tax Reform

  by Robert Donachie The 2017 Republican tax reform bill did little to change the fact that the top 20 percent of income earners in America pay a higher share of income taxes. The top 20 percent of income earners in 2018 will pay roughly 87 percent of income taxes, an increase of 3 percent from 2017, The Wall Street ...

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If tax cuts are to raise revenues, broader culture of economic freedom is required

Among the favorite maxims of fiscal conservatives is the idea that tax cuts, not hikes, increase revenues. Inarguably, slashing personal income tax rates buoyed the size of the federal government’s coffers following the Mellon income tax cuts of the 1920s, the 1964 Revenue Act signed by President Kennedy and President Reagan’s reform measures in 1981 and 1986. The rationale behind ...

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VA Gov. McDonnell Suffering from Legacy Fever

Judging from Gov. Bob McDonnell preoccupation with liquids one would almost think he’s a naval man, rather than an Army reservist. First he tried to free demon rum from state control by privatizing Virginia’s liquor stores. ABC privatization was DOA even with a Republican House of Delegates for reasons outlined here. Now Gov Bob is intent on reinforcing failure with ...

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11 Deceptions About the Tax Debate

Below are the Whitehouse.gov’s “11 Facts About the Tax Debate.”  As usual, they are out of context, disproportioned, deceptive, and out right false briefing points.  Here are just a few reasons why they are nothing more than election year red herrings.  (A fitting expression for such socialist ideals.) WH.gov points are in italics. 1.     Nearly $1 Trillion would be ...

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The FairTax Series: America's Road To Prosperity Part 2

In this installment of the FairTax series I want to cover the cost of compliance and enforcement with today’s tax codes. Before I go into the complexities of compliance and enforcement I want to spend a few minutes dispelling the favorite myth of the anti-FairTax crowd. One of the things that put me off the FairTax at first was the ...

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Matt Damon Is Disgusted!

Matt Damon is “so disgusted” with the debt limit and says he doesn’t mind paying more taxes. Oh, what I would give to have a little look-see at his income taxes! I would be willing to bet he took as many write-offs as possible!

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Reminder: Tax Day is Tomorrow, A Trip Down “Memory Lane”

     April 15th is our national tax day deadline. This is the day many hard working Americans will run around frantically trying to get the income tax statements mailed into the IRS by the stroke of midnight, lest the nasty collection agents and thuggish IRS bullies start threatening anyone who has missed this all important deadline. If you will notice in ...

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Recent Legislation Allows Congress to Track You

The new paradigm in Congress: Pass legislation first, then figure out what’s in it.  We have certainly learned much about the worthless health care reform bill and now a real head scratcher.  Section 9006 of Obamacare amends section 6041 of the IRS code so that when you buy or sell more than $600 of anything, within a fiscal year, you have ...

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