News
CNN Money | 18 million callers can't reach IRS for tax help
With the April 15 tax filing deadline around the corner, an estimated 18 million callers seeking help from the IRS won't be able to reach a real person this year. That's about 40% of all tax season callers, according to IRS data.
Econ Comments & Analysis
Real Clear Markets | The Only Corporate Tax 'Reform' Is Total Abolishment
The Peter G. Peterson foundation recently funded a study by Eric Toder of the Tax Policy Center and Alan Viard of he American Enterprise Institute on corporate tax reform. They conclude that congressional proposals now being debated fall short of solving the complex problems of worldwide taxes. They suggest that we either reach an international agreement on how to allocate income among countries, or abolish the tax and raise the revenue directly from the shareholders.
Real Clear Markets | Puerto Rico May Be the Next Big Bailout for U.S. Taxpayers
Although financial optimists are heralding the recent sale of $3.5 billion of bonds by the Commonwealth of Puerto Rico as the end of the financial crisis for the island and its inhabitants, a closer look demonstrates that the bond sale may, at best, be a small bandage on a large and hemorrhaging wound. Because of the uniqueness of Puerto Rico's status as a Commonwealth of United States, a financial default by Puerto Rico will be catastrophic in that it will almost mandate a bailout by the U.S. Government which will ultimately be borne by U.S. taxpayers.
