Taxation

“Failure to File” Says It All

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“Willful failure to file a tax return is a misdemeanor per IRC Section 7203. In egregious cases, willful failure to file may be elevated to a felony under IRC 7201 Tax Evasion. In addition, a civil penalty for fraudulent failure to file may be applicable per IRC Section 6651(f).” That passage in ... [click for more]

Tax Revolts against Oppressive Governments

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Tax Revolt: The Rebellion against an Overbearing, Bloated, Arrogant, and Abusive Government, by Phil Valentine (Nashville, Tenn.: Nelson Current, 2005), 256 pages. More than a quarter century ago, Californians rebelled against an overbearing political establishment. Property assessments were climbing, state expenditures were rising, the budget surplus was ... [click for more]

The IRS vs. Ragnor Danksjold

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The feds are very upset with Walter Anderson, whom they’re accusing of being the “biggest tax cheat in American history.” They say he evaded taxes on $450 million in income, although he can’t be all bad because in 1998 he paid $494 in income taxes. So, the feds are now going ... [click for more]

Congressional Sadists

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Even though April 15 is more than a month and a half away, this is the time of year when people are thinking about and preparing their income-tax returns. So it’s a good time to contemplate this particular bit of oppression under which half the adult population labors. Many people act as ... [click for more]

Ireland and Big-Spending Republicans

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Despite some tax cuts, the size of the U.S. government has increased rapidly under President Bush and the Republican-controlled Congress. Washington leaders looking to improve the economy could learn a lesson or two from Ireland, which has consistently achieved high rates of growth over the last 15 years by successfully slashing government spending. Under the Republican Congress during Clintons years ... [click for more]

Is Tax Freedom Now an Act of War?

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In a speech before the National Press Club last January, former New York governor Mario Cuomo charged that President Bush’s tax cut proposals were a form of “class warfare.” Challenging Bush’s claims that liberals and Democrats were fomenting class warfare with their charges that his tax plan favors the rich, ... [click for more]

Tax-Cut Illusions

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The problem with big government is that politicians and bureaucrats keep devouring more and more scarce resources instead of leaving them with those who created them. So instead of entrepreneurs’ using those resources to serve consumers, government operatives get to subsidize their supporters in order to keep their ... [click for more]

A Historian Looks at Tax Havens

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The recent attack on tax havens by the Organization for Economic Cooperation and Development (OECD) has depicted about 20–30 countries, called tax havens, as destructive of the high tax systems of the world, especially Europe. The OECD argues that its members should gang up on these nations and shut down their financial centers unless ... [click for more]

What’s Wrong with Looting? It’s the American Way!

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Responding to the massive looting committed by Iraqis as part of their newly found “freedom,” Secretary of Defense Donald Rumsfeld observed, “Stuff happens. It’s untidy. And freedom’s untidy. And free people are free to make mistakes and commit crimes and do bad things.” The reason for his indifference is simple: ... [click for more]

Taxing Dividends: Once Is Not Enough?

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Why is it controversial to propose an end to double taxation? The centerpiece of President Bush’s economic package is elimination of the tax on dividends. No one disputes that this is a double tax. A corporation pays taxes on its profits. Then if it distributes the after-tax profits ... [click for more]

Tax-Cut Alchemy

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In the midst of massive increases in federal spending and an enormous budget deficit, President Bush has proposed a large reduction in federal taxes. How’s that for political magic — lower taxes and more benefits? Unfortunately, however, it’s not ... [click for more]
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