How to avoid paying taxes - Visualized
Ok, this only applies if you are significantly wealthy. D'you have - at least - three commas in your checking account balance? If not, don't bother reading this... Source: TopAccountingDegrees.org
Posts
Time to call Bullshit on "Starve The Beast"
via David & Christina Romer, we have this Region: You recently wrote a very intriguing paper about the interplay between tax changes and government spending. Would you give us a brief description? David Romer: [...] In the context of the starve-the-beast theory, my favorite example of the issue of correlation versus causation is the fiscal history of the Korean War. The North invaded the South at the end of June 1950. A month later Truman took a few minutes out from planning the military response and wrote to Congress to say that we needed a massive tax increase because we were going to have to ramp up military spending. A big tax increase was passed and put into effect three months after the invasion. [...] So if you look just at the data, you see that taxes went up and spending went up afterwards. If you look at correlation, it looks like a great example of tax changes causing spending to change in the same direction. But if you listen to the history I just de...
Taxation - what "liberal" vs "conservative" used to mean
Bruce Bartlett (Heritage foundation, Reagan/Bush Sr. administrations, etc.) has a new book out " The Benefit and the Burden - Tax Reform - Why We Need It and What It Will Take ". Its a great (if short) read, and one that I couldn't recommend higher. I know, I know, why would I be recommending what could very well be partisan hackery? Because it isn't. Really, surprisingly, and shockingly, it isn't. But I'm not here to talk about the solution(s) in the book, as much to discuss the recent history of taxation in this country, one that has for all intents been completely forgotten by all and sundry. But fear not - I'm here to remind y'all. Consider your income, wherever it might come from, and whatever it might be. And no I'm not talking about your salary, i'm referring to all your income in every possible form. Salary, gifts, inheritance, tips, quarter on the sidewalk, ill-gotten gains from mugging strangers, whatever. There are ba...