Caroline Baum of Bloomberg has an excellent column explaining why soak-the-rich taxes don’t work. Simply stated, wealthy people are not like you and me. They have tremendous control over the timing, composition, and level of their income. When the rich are hit with higher tax rates, they adjust their behavior and protect themselves by reducing […]

While the cartoon is amusing, I’m sure I don’t need to remind this audience that this isn’t really a joke. The IRS now has immense additional powers to micro-manage our lives.

The Financial Times reports that the number of Americans giving up their citizenship to protect their families from America’s onerous worldwide tax system has jumped rapidly. Even relatively high-tax nations such as the United Kingdom are attractive compared to the class-warfare system that Obama is creating in the United States. I run into people like […]

Dan Mitchell recently appeared on MSNBC to explain why we should not be surprised to learn that more than $9 million dollars in home buyer tax credits were given to prison inmates who were clearly not new home owners.  This kind of waste is to be expected when Congress writes a 70,000+ page tax code […]

As if the residents of the Gulf Coast haven’t had it hard enough, the IRS is moving in to make sure they get their cut of any payouts from BP.  These government bureaucrats even have the chutzpah to pretend that their actions are benevolent and beneficial on the grounds that they are helping taxpayers understand […]

We’ve looked at this issue before, but this new CNN article fleshes out the awful IRS rules in the new healthcare bill: The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month. …The […]

In the latest “Economics 101” video released today by the Center for Freedom and Prosperity Foundation (CF&P), Hiwa Alaghebandian of the College of William and Mary explains that the high cost of complying with the internal revenue code is a hidden tax that makes a bad system even more oppressive.

This video shows that the corrupt mess we call a tax code is the result of 97 years of social engineering and industrial policy that began almost immediately after that dark day in 1913 that the income tax was created.

Everyone’s favorite bureaucracy really stepped in it recently, when they harassed a car wash owner for an upaid tax bill of (drumroll please) four cents. But since we’re talking about the Internal Revenue Service, the bureaucrats also tacked on an extra $200 to the bill – even though the owner had never been notified of […]

The Center for Freedom and Prosperity Foundation, joined by more than 30 of the country’s largest and most influential free-market groups, urged Treasury Secretary John Snow to immediately withdrawal the Internal Revenue Service (IRS) regulation “first proposed by the Clinton Administration three days before President Bush’s first inauguration over five years ago.” The proposed rule […]