Just like the recent rise of business inversions — moving business HQ abroad — the United States has seen an uptick (up 221%) in Americans renouncing their citizenship. The elephant in the room in both these cases is taxes: both high taxes and burdensome tax compliance in foreign jurisdictions. Instead of facing the problems directly, […]
USAToday gave a sobering report this week which reaffirmed the inability of our government to be both accurate and transparent. The Government Accountability Office (GAO) audited spending data from 2012, the most recent year for which data is available, by comparing government agency records with those found on USASpending.gov. The GAO reported that only 2-7% […]
On April 5, 1764, Parliament passed something called “The Sugar Act”, which, interestingly, had another name: “The American Revenue Act”. It was a modification of the 1733 Molasses Act, and it also affected other goods, such as wine and coffee. The Preamble to this Act states: “it is expedient that new provisions and regulations should […]
Obama has called “for an end to a corporate loophole that allows companies to avoid federal taxes by shifting their tax domiciles overseas in deals known as ‘inversions’.” Such as statement shows the utter ineptitude that Obama has for understanding a) what inversion actually is and b) how his policies are the cause. Inversion is […]
A federal appeals panel handed down a ruling this morning that could be problematic for Obamacare. As just reported, “A judicial panel in a 2-1 ruling said such subsidies can be granted only to those people who bought insurance in an Obamacare exchange run by an individual state or the District of Columbia — not […]
A massive pay-off to Big Pharma disguised as a weapon in the culture war is still alive and well, no matter that a small group of “closely held” for-profit corporations managed to escape it this morning.
While Eric Cantor went down to a crushing defeat, a fellow Republican incumbent with half his tenure, a third his warchest, a more spread-out district, and a challenger with ties to a national organization cruised to re-election.