"All men have their vices. In my lifetime I have collected the entire set! That makes me more of an authority than those who scream that thus-and-such is bad for you while at the same time insisting they have never experienced it themselves." -- Michael Rivero

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The U.S. tax system is suffering from deep and systemic rot and needs a ground-up rebuild. But with the IRS acting more as the infection than the cure, restoring effectiveness to America’s tax system will require a revolutionary legislative reform effort based on bedrock principles of fairness and efficiency.


In the latest volley of policy proposals that seem more rooted in populist rhetoric than economic knowledge, President Joe Biden's budget plan to hike the corporate income tax rate from 21 percent to 28 percent strikes me as particularly misguided. This move, ostensibly aimed at ensuring a "fair share" of contributions from corporate America, is a glaring testament to a simplistic and all-too-common type of economic thinking that already hamstrings our nation's competitiveness, stifles innovation, and ultimately penalizes the average American worker and consumer.

In a move that was expected, President Joe Biden unveiled his budget proposal for the election year on Monday.

The proposal, which calls for a whopping $5.5 trillion in tax increases, primarily targets the wealthy and corporations. The funds raised are intended to boost spending on federal benefits programs, affordable housing, and student loan cancellation, among other initiatives that are typically associated with progressive politics.

President Joe Biden plans to engage in some class warfare during his State of the Union Address on Thursday by calling for big tax increases on the super-wealthy and larger corporations.

According to the UK’s Daily Mail, Biden will call for raising the tax rate on corporations worth more than $1 billion from 15 percent to 21 percent, which is an increase from the 15 percent he called for earlier in his presidency.

Joe Biden will target super rich and corporate America in tonight's State of the Union address with sweeping tax rises to include hiking minimum corporate tax from 21% to 25% and a minimum 25% tax for billionaires

Authored by Daniel Kowalski via FEE.org,

The plot of Ayn Rand’s 1957 novel Atlas Shrugged can be briefly summed up as follows: the productive leaders and innovators of the country go on strike by disappearing from society to protest the cronyism, corruption, and oppressive taxes that have made living a virtuous life unbearable.

A Philadelphia judge has ordered Oscar-nominated actor Terrence Howard to pay nearly $1 million in back taxes, penalties and interest. Howard didn't do himself any favors when he told the case's lead attorney that it was “immoral for the U.S. government to charge taxes to the descendants of slaves.”

New York lawmakers are debating over a proposed Democratic initiative that would pave the way for a multibillion-dollar fund designed to provide unemployment benefits for illegal immigrants. Spearheaded by state Senator Jessica Ramos, a Queens Democrat, the proposal has ignited passionate discussions within the Senate Finance Committee, where it currently awaits further deliberation.

French economist Gabriel Zucman brought a $250-billion-a-year idea to top policy makers from the world's biggest economies Thursday: slap an international wealth tax on the super-rich.

Zucman, a 37-year-old ex-protege of renowned economist and inequality expert Thomas Piketty, was invited to outline his research on tax evasion by the ultra-wealthy at a meeting of finance ministers from the Group of 20 nations, which is working to address the issue.