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Taxes
  • Will the Republican Anti-Tax Pledge Crumble?

    Used to be, you could count on a politician to honor his non-binding contract with the head of a small but well-funded 501(c)(4) organization.

    Looks like those days are in the past

    Over the weekend, two veteran Republican lawmakers went on ABC’s This Week to announce that they are willing to buck Grover Norquist's famous anti-tax pledge for a deal on the "fiscal cliff," according to the Los Angeles Times.

    Said Sen. Lindsey Graham (R-SC), "I will violate the pledge for the good of the country only if Democrats will do entitlement reform."

    Said Rep. Peter King (R-NY), "A pledge you signed 20 years ago, 18 years ago, is for that Congress. For instance, if I were in Congress in 1941, I would have supported a declaration of war against Japan. I’m not going to attack Japan today."

    Oh, sure, Peter King, you say you won't attack Japan now, but you've already proven that your word is no good. So, how do we know that you won't suddenly change your mind and start rampaging through the streets of Tokyo, trampling buildings underfoot?

    Photo by Win McNamee/Getty Images News/Getty Images


    Tags: Grover Norquist, Lindsey Graham, Republicans, Taxes
  • Some Americans Very Worried About the "Physical Cliff"

    While the majority of people pretending to worry about the "physical cliff" are having a laugh, a small but vocal minority of Americans seem to be convinced that Congress is literally going to push us over the side of a mountain…

    When looking for investment advice, finding a financial adviser who doesn't know the word "fiscal" is always my first order of business…

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    Tags: Budget, Taxes, Twitter
  • Dumb Rich People Give Us Hope

    Many writers with basic numeracy skills have already commented on the silliness of rich people who have no idea how the tax system works, but these commentators fail to appreciate one essential fact:  the dumb, affluent, whiny Americans featured in this NY Times piece are beacons of hope for millions of their fellow citizens who suck at math but want to be rich. It's quite possible to be both…

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    Tags: Money, New York Times, Taxes
  • Bill Kristol Outs Self as Anti-American Socialist

    I think deep down I always knew that "conservative" columnist William Kristol was part of a liberal pundit sleeper cell

    "It won't kill the country if we raise taxes a little bit on millionaires," he said on "Fox News Sunday." "It really won't, I don't think. I don't really understand why Republicans don't take Obama's offer."

    "Really? The Republican Party is going to fall on its sword to defend a bunch of millionaires, half of whom voted Democratic and half of whom live in Hollywood and are hostile?" he asked.

    It makes perfect sense. Remember how he pushed for Romney to choose Paul Ryan? Or his campaign for Sarah Palin in '08? Who would do that except somebody who really really hated the Republican Party?

    Think about it.

    Photo by Chip Somodevilla/Getty Images News/Getty Images


    Tags: Taxes, William Kristol
  • Here Is the Mitt Romney Tax Scandal You Requested

    Dutch newspaper De Volkskrant — which, by the way, is also the name of my old electroclash band — is reporting that Mitt Romney and Bain Capital subverted around $100 million in taxes by diverting money through the Netherlands in a delicious-sounding tax dodge called the Double Irish with a Dutch Sandwich

    The alleged tax route went as follows: Bain bought Irish pharmaceutical company Warner Chilcott in 2004, which was originally registered in Bermuda but had moved to Ireland in 2009 to avoid Barack Obama's tax crackdown. Two years ago, Bain registered its interest in Warner Chilcott with the private Dutch company Alter Domus. Under Dutch laws if a Dutch-registered company owns more than 5 percent of a company it is exempt from paying capital gains tax.

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    Tags: Mitt Romney, Netherlands, Taxes