EppsNet Archive: Taxes

“I Need to Pay Higher Taxes,” Says Bill Gates

If Bill Gates really believed that, he could decide how much he “should” pay, subtract it from what he’s required to pay, and send Uncle Sam a check for the difference. Which he doesn’t do. Gates was talking about taxes in the context of the recent tax bill not being progressive enough for his liking. “People who are wealthier tended… Read more →

Soda Sticker Shock in Seattle

Seattle is trying to discourage its citizens from drinking sugary beverages by imposing a 1.75-cent per ounce tax on all sugary drinks sold in the Emerald City. A $15.99 case of Gatorade at the Seattle Costco now has an added tax of more than $10. A case of Coke is now $7.35 more expensive than the Diet Coke or Coke… Read more →

Why Are Black Americans Against School Choice?

Most or all of the people booing Betsy DeVos know little or nothing about her except that they’re expected to dislike her for reasons that they may know are related to her views on public schools and school choice. But why are black Americans against school choice? I don’t want to overgeneralize — my son went to public schools and… Read more →

Carmack on Government

My core thesis is that the federal government delivers very poor value for the resources it consumes, and that society as a whole would be better off with a government that was less ambitious. This is not to say that it doesn’t provide many valuable and even critical services, but that the cost of having the government provide them is… Read more →

Tony Robbins’ Wealth-Building Tips Seem Pretty Useless

Tony Robbins has 6 tips for Building Wealth Now. Let’s look at each of the tips and apply the “would anyone advise the opposite?” filter to assess the value of Robbins’ advice. Don’t lose money. I’m not kidding, that’s the first tip. Would anyone advise “Lose money”? No. So this “tip” is useless. Look for investments in which rewards far… Read more →

There Are Four Ways You Can Spend Money

There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money. Then you can spend your own money on somebody else. For example, I buy a birthday present for someone.… Read more →

The Public School Monopoly Provides Little Incentive to Supply Good Education

[The public-school monopoly] is yet another scam that inflicts disproportionately great damage on people who are the poorest and least advantaged. How could it not? Those who run K-12 government schools aren’t paid by customers who voluntarily send their children to those schools and who could easily choose to send their children elsewhere. Instead, these teachers and officials are paid… Read more →

A Spectacularly Bad Job of Rigging the System

If you nevertheless believe that the capitalists have been busily rigging the system in their own interest, you’ve got to admit they’ve done a spectacularly bad job of it. How else to explain the quintuple taxation of capital income, where you can invest a dollar that was taxed the day you earned it, then pay corporate income taxes, dividend taxes,… Read more →

One Percenters

“Progressives” love to complain about the alleged unfairness of the amount of income earned (“Progressives typically use misleading terms such as “claimed by”) the top 1 percent of income earners. Why not complain instead about the unfairness of the amount of tax revenues received by the top 1 percent of net-tax-revenue recipients? Why are the annual tax-receipt incomes of this… Read more →

IRS Refunds $4 Billion to Identity Thieves

The Internal Revenue Service issued $4 billion in fraudulent tax refunds last year to people using stolen identities, with some of the money going to addresses in Bulgaria, Lithuania and Ireland, according to an inspector general’s report released Thursday. The IRS sent a total of 655 tax refunds to a single address in Lithuania, and 343 refunds went to a… Read more →

Aside

NY Times: Across U.S. Companies, Tax Rates Vary Greatly – Interactive Feature

Things That Scare Other People’s Dogs Do Not Scare Our Dog

We went out to watch the city of Irvine fireworks show. Best use of our tax dollars since last year’s show! As we drove back to the house, I said, “I hope the fireworks didn’t scare Lightning.” He was asleep on his bed. He’s not scared of anything. Read more →

Drive Me to the Junkyard in my Cadillac

Well buddy when I die throw my body in the back And drive me to the junkyard in my Cadillac — Bruce Springsteen, “Cadillac Ranch” Say goodbye to that $500 deductible insurance plan and the $20 co-payment for a doctor’s office visit. They are likely to become luxuries of the past. . . . Then blame — or credit —… Read more →

eEconomics – Tax Inequality in America

Read more →

Tax Rate Hike and Increased Unemployment Payments on the Same Day

According to this White House press release, the federal government is ringing in the new year by simultaneously raising tax rates (i.e., penalizing people for working) and extending payments to two million people who do not work (i.e., rewarding people for playing Xbox). Has this ever happened before at any time in the history of the U.S. (or anywhere else… Read more →

I Don’t Understand What Warren Buffett is Talking About

In an op-ed for the New York Times, Warren Buffett argues that higher taxes won’t keep the super-rich from trying to make money: Suppose that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.” Would your reply possibly… Read more →

No Surprises in Berkeley

Final election counts are in for Berkeley, CA, the most liberal city in America. Let’s start with the presidential election, where Mitt Romney was able to edge out Jill Stein for second place: Barack Obama, Democrat – 90.3% Mitt Romney, Republican – 4.6% Jill Stein, Green Party – 3.2% California ballot proposition results included: Proposition 30, a measure to increase… Read more →

Next Page »