Posts Tagged ‘fiscal cliff’

The View From The Fiscal Gorge

The View From The Fiscal Gorge

By The Banker | Blog Posts

Happy Fiscal Gorge[1] Day! Guess who’s really happy from last night’s tax deal? Heirs, financiers, and people who live off their piles of money. Guess who’s not saddened by the Fiscal Gorge tax deal? The top 2% of earners that Obama spent his campaign promising would pay a larger share of federal taxes if he [&hellip

A Tax Proposal Worth Considering

A Tax Proposal Worth Considering

By The Banker | Blog Posts

The Center for American Progress (CAP) recently published a summary description of their proposals for addressing tax and spending policy, in the light of the ‘Fiscal Cliff,’ Simpson-Bowles, and the ongoing flustercluck of fiscal policy negotiations going on before January 1, 2013. Their summary report is as good as anything I’ve seen yet in terms [&hellip

Powerball - A Horrific Tax On The Poor

Powerball – A Horrific Tax On The Poor

By The Banker | Blog Posts

In recent posts I argued that current tax policy for the wealthiest people in the United States incentivizes inheritance over effort, encourages getting ahead either from: Gifts from Daddy or Living off your wealth,or Owning a hedge fund, …all the while punishing people who actually, you know, work for a salary to achieve the American [&hellip

SHHHHHH...Please Don't Talk About My Tax Loophole

SHHHHHH…Please Don’t Talk About My Tax Loophole

By The Banker | Blog Posts

I wrote last week that one of the great lessons of the recent Presidential campaign, for me, is how little we as a country understand income tax policy. Since we’re about to engage in a crash course in fiscal policy[1] it’s worth focusing on the loophole of carried interest. Both Presidential candidates referred in the [&hellip

Adult Conversation About Income Tax Policy

Adult Conversation About Income Tax Policy

By The Banker | Blog Posts

With the Fiscal Cliff[1] looming, kids, it’s time for “The Talk.” By ‘The Talk,’ I mean yank our minds into the grown-up world.  We have been innocent about how money really gets made, and kept, and taxed.  The ‘adults’ know, but they haven’t felt comfortable sharing the real truth.  We didn’t know, and we didn’t think [&hellip