The Internal Revenue Service released a report on how much revenue the government misses out on due to illegally unpaid taxes. According to their estimates, the figure for 2006 was around $450 billion, with 17 percent of taxes going unpaid. Around $65 billion of the unpaid taxes are recovered through enforcement, leaving a net tax… Continue reading Congressional under-funding of IRS costs the government $385 billion
Bain Capital and the social safety net
Mitt Romney has recently suffered attacks for his tenure as head of a buyout firm called Bain Capital. During Romney’s time there, Bain Capital purchased a number of struggling companies and laid off scores of workers in an effort to turn the companies around. This is, in essence, what buyout firms do. They take over… Continue reading Bain Capital and the social safety net
Are the poor envious of the rich?
Since Occupy Wall Street pushed inequality back into the mainstream consciousness, those on the right have scrambled to mount their defenses. Paul Ryan and Eric Cantor tried to defend by emphasizing the existence of social mobility, something that is
Effective corporate tax rates are not that high
I somehow summoned the energy necessary to watch the New Hampshire Republican debate on Saturday. Like the seemingly dozens of GOP primary debates held so far, the usual trainwreck transpired. Jon Huntsman spoke in Chinese briefly to try to show how much he knew about China, not realizing that the nationalists in the Republican party… Continue reading Effective corporate tax rates are not that high
Two different kinds of libertarians
Tim Worstall wrote a response to George Monbiot’s recent article and by proxy a blog post I wrote a short while ago. I do not intend to get into a back and forth between different blogs here, but one thing brought up by Worstall — both in a comment he left on my blog and… Continue reading Two different kinds of libertarians