fair tax system Archive

Privilege

By John Lumbard, CFA ... “Swiss cantons are free to set their own tax rates. For example in Zug, corporate tax is about 16 percent but can fall as low as 9.5 percent for companies that do most of their business outside Switzerland. That compares with an average global corporate tax...
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On Tax Reform

By James Schaefer. By any measure, the tax code is too complex.  It currently totals 70,000 pages and defies both comprehension and easy compliance by mere mortals.  Collectively, Americans spend $168 billion each year in compliance costs. The latest attempt to simplify the code comes from Congressman David Camp of Michigan, who has...
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Bipartisan Tax Reform Is Underway; Your Input Is Wanted!

By James Schaefer. The non-partisan Tax Policy Center of Washington, DC, calls the current Internal Revenue Code "an incomprehensible mess." The latest good news on tax reform has shown up in an article by Laura Saunders in the Wall Street Journal ("Will 'Tax Reform' Really Happen?", Aug 3-4, 2013; the article is...
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How to Fix the Economy

By John Lumbard. We have the most ridiculous tax system in the history of the world.  Last year Clorox paid taxes at a 39% rate---nearly twice what they’d pay if they moved to Canada---while GE paid nothing.  The wealthiest 10% of our citizens pay 70% of all the nation’s taxes, but...
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The government is giving away your money…to you

by Michael Smith I occasionally read an opinion piece and agree with every word of it. Naturally, my first thought is “Wow. This guy must be brilliant—he’s right about everything.” In humbler moments, I’m just glad for the company. Here’s a letter to the editor from one of my intellectual brothers in...
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A Pledge of Fiscal Responsibility

For candidates for federal office: I pledge that, if elected, I will introduce legislation to establish: A balanced budget amendment to the Constitution, with appropriate exceptions for times of war and recession. A line-item veto, to give the President a fighting chance to eliminate pork and earmarks. Term Limits, of any durations...
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