Governor Cuomo has come out blasting the new tax law, and in particular the substantial reduction in the deduction for State and Local Taxes (“SALT”), as unconstitutional and an “attack only on blue states.” But everybody who has any knowledge of taxation and its … [Read more...] about Governor Cuomo: Clueless or Dangerous?
I am very glad the new Tax Cuts and Job Act is now law. With ongoing work reforming and reducing regulations, the tax bill will spur economic growth, and get people to understand the importance of reducing marginal rates. On the corporate side, the huge rate reduction (from 35% … [Read more...] about The New Tax Law: Politics Over Reform
The House Ways and Means Committee & Senate Finance Committee has published a memo with highlights from the current form of the tax cuts bill that will be voted on right before Christmas. To read the memo, you can go here: The Tax Cuts and Jobs Act (H.R. 1) overhauls … [Read more...] about Tax Cuts and Jobs Act Policy Highlights
Richard Rubin makes some major errors in his summation of burgeoning tax bill. He uses a scenario of five people and goes through how they would be affected by the current proposed legislation. However, he does not get his calculations correct. He's comparing apples and oranges. … [Read more...] about Richard Rubin’s Tax Plan Follies
While reading the New York Times’ assessment of the upcoming tax cut bill, a sentence popped out at me: “Wary of any tax legislation that benefits the rich, Democrats have taken a firm stance against Republican policies that would add to the deficit and said they will not support … [Read more...] about Senate Democrats and Moral Posturing