Tag: Taxes
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Chicago is so flush with cash it can provide Guaranteed Basic Income to residents
Some genius Chicago aldermen have the brilliant idea to provide a “Guaranteed Basic Income” to city residents. Alderman Gilbert Villegas, Alderwoman Maria Hadden and Alderwoman Sophia King introduced the resolution to the Committee on Economic, Capital and Technology Development of the Chicago City Council. “Distributing cash directly to Chicago families would transform life for millions…
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IRS halts one man’s circular income generator
A brilliant man walks into a grocery store and buys the maximum number of gift cards he can buy. He does this as often as he can using his American Express card and enjoys the 5% reward for each purchase. In turn he purchased money orders using the gift cards, deposited those back into his…
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Why Georgia needs to remain red
I come from Illinois where the government never met a tax or fee it didn’t like. Living in Illinois for 53 years, never has a proposal been pushed to reduce taxes of any kind. We had one case where the state raised the income tax rate from 3% to 5% then rolled it back to…
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Remote work proves the income tax is obsolete and should be abolished
COVID-19 has killed a lot of things. I hope it kills the income tax… at least at the state and local levels. Let’s say you live in Waterloo, Iowa and work from your home for a company in Manhattan. To what government entity do you owe income tax? New York City and New York State…
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New York Times preys on American ignorance on business and tax law
The New York Times’ is misleading the public on President Trump’s tax returns because the editors know most Americans know nothing about how business works and how tax law works. If you have ever owned a business or was at least in control of a business you would know that everything the NYT is “exposing”…
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The relevance and prescience of “Free to Choose”
I just finished Milton Friedman’s book “Free to Choose”. This book was published back in 1979 when the country went through one of the worst recessions since the Great Depression (Seems to keep happening doesn’t it?). Comically Friedman had the opinion that socialism had been adequately relegated as a failed ideology but what he failed…