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Entries in taxpayer (3)

Sunday
Aug212011

Maxim for a taxpayer

When a politician says the word 'revenue', hide your wallet.

Thursday
Oct232008

Congressional hearings on lending meltdown miss the big boat: fraud and GSEs

The Department of Justice and the FBI busted another mortgage fraud ring. This one involved more than $4 million in investment properties in New Jersey. Three members of the ring were arrested on Wednesday. Their fraud allegedly resulted in hundreds of thousands of dollars in losses to mortgage lenders.

I watched CSPAN for awhile on Wednesday as members of the House Oversight and Government Reform committee grilled key financial players about the lending meltdown that’s playing havoc with economies around the world. There was plenty to rant about—lenders basically pay for their ratings, something many of us already knew but others with retirement plans obviously didn’t. But this committee is starting at the top of the money chain. They should start at the bottom.

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Wednesday
Oct082008

Tax Foundation says marginal tax rates will rise for some under Obama, McCain's plans

If you really want to get specifics rather than campaign rhetoric, join me in a call for both presidential candidates to submit to aThis time in history may be remembered as the era of the government giveaway. Q&A by experts at the Tax Foundation. This organization has a gold mine of information and I’d be willing to bet there aren’t many in Congress who use it—some may even deliberately avoid it. The Tax Foundation said in a news release, “Marginal tax rates will rise to over 50 percent on some middle-income families if Sen. Obama's tax plan becomes law, and over 40 percent under Sen. McCain's plan,” according to a new report from the Tax Foundation. There’s an abstract including a comparison at the website for this nonpartisan organization founded in 1937. The foundation has been praised by both parties. Why doesn't mass media (and our government) use this expertise? Asking a campaign strategist to explain taxes is like asking the fox why he wants to guard the henhouse.

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