By James Kwak
A couple of days ago I criticized Mitt Romney for thinking that eliminating the deductions for mortgages on second homes and for state and local taxes would pay for his 20 percent rate cuts. But there’s a more important general point to be made.
Given the public unrest of the last few days, it would appear that the Cypriot government, having tried and failed with Plan A (wealth tax versions 1 and 2) and Plan B (beg the Russians directly), they have decided to go with Plan C (Collateralized Cypriot Obligations).
George Spritzer submits: This is one of a series of articles on specific municipal bond closed-end funds. In this report, I will analyze the Blackrock MuniHoldings Investment Quality Fund (ticker: MFL).
TORONTO — Ontario’s New Democrats warn they won’t support new taxes or tolls from the minority Liberal government to fund public transit expansion in the Toronto-Hamilton area.
NDP Leader Andrea Horwath says she wants to make the minority Parliament work when the legislature resumes next month, but doesn’t like the Liberal plan to find new “revenue tools” to pay for upgrades to infrastructure and public transit.
I was walking north on 5th street the other day looking at the state of the neighborhood and it occurred to me that maybe it would make sense to tax land values rather than policy values. That would encourage people to put their parcels to use, rather than endlessly sitting on vacant properties hoping for a better deal tomorrow.
Over the last year, I've frequently lamented the United States' increasingly absurd position on corporate taxes - maintaining one of the highest corporate tax rates in the world and routinely demonizing standard international business tax practices, while other countries (like Canada) are racing to eliminate tax burdens in order to enhance their domestic companies' global competitiveness. Unfortunately, the last few weeks have produced a depressing cavalcade of similar news.
Catching up on some reading this week, and had this few-days-old post by Dylan Matthews on Ezra Klein’s blog pointed out to me. Dylan asks if the conventional economic wisdom on the “marginal propensity to consume” of richer vs.