Tag Archives: tax reform

What is SALT really about?

Here is the proper way to understand the SALT issue—whether State and Local Taxes should be deducted from taxable income on which federal taxes are levied. Assume that taxpayer 1 (Jack) in state A and taxpayer 2 (Mary) in state … Continue reading

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SALT—More press nonsense on tax reform

The elimination of State and Local Tax (SALT) deductions from the proposed tax reforms working their way through Congress has become a hot topic. Fine, but please keep the discussion honest. Sadly my local newspaper, The Washington Post, is not … Continue reading

Posted in Debt, taxes | Tagged , , , , , , , , , | 1 Comment

Tax reform and the press

I have written several articles about the need for serious tax reform in the U.S. and set out the basic principles of good tax law accepted by most economists. “US Federal Tax Policy”, Cayman Financial Review, Issue 16, Third Quarter … Continue reading

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Taxing the Wealthy

The administration has “backed a tax plan that analysts say would greatly benefit the wealthy.” I want to unpack that and take a closer look at what it might mean. “The Trump tax plan drops the top bracket from 39.6 to … Continue reading

Posted in Economics, taxes | Tagged , | 5 Comments

Next up: Tax Reform

Hopefully the tax reform law to be adopted by Congress in the coming months will closely resemble The Better Way Tax proposed outline by Congressmen Paul Ryan and Kevin Brady on June 24, 2016. Their plan would be revenue neutral … Continue reading

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Econ 101 – Jobs and Income Growth

At long last the economy has more or less reached full employment. The December 2016 unemployment rate was 4.7 percent while the Federal Reserve’s assessment of normal full employment (NAIRU—non-accelerating inflation rate of unemployment) is 4.8 percent. More over, wage … Continue reading

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My Political Platform for the Nation – 2017

For me, the ideal American government would deliver its important but limited functions efficiently and effectively and would raise the money to pay for these activities with efficient, minimally distorting (neutral), and fair taxes following a principle of maximum subsidiarity … Continue reading

Posted in Banks, Economics, Government, Money | Tagged , , , , , , , , , , , , , , , | 1 Comment