MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'irs'. Sat, 03 Sep 2011 02:11:49 +0100 http://www.medworm.com/index.php?rid=4953362&cid=t_150403_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FiSdaty5lPS4%2F Most everyone enjoys the challenge of minimizing their taxes. Drugmakers are no exception. But consider Schering-Plough, which engaged Merrill Lynch nearly 20 years ago to concoct a complicated interest rate swap involving a pair of subsidiaries, but was hit with a $473 million tax bill in 2004 after a federal court decided its gambit was just that - a ploy to evade taxes. Yesterday, a federal appeals court not only upheld that ruling, but chastised the drugmaker - which is now owned by Merck - for offering arguments that were described as disingenuous and for displaying way too much chutzpah. Of course, chutzpah can be a good thing, but overdoing it in arguments before a federal appeals court can invite disdain. Just ask the Merck lawyers. The upshot is that Merck is not entitled to a n... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4953362 Tue, 21 Jun 2011 12:35:57 +0100 4953362 http://www.medworm.com/index.php?rid=4952804&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F04p9GU35RGM%2F By Daniel J. MitchellOne of the tax increases buried in Obamacare was an onerous and intrusive “1099″ scheme that would have required businesses to collect tax identification numbers for just about any vendor and then send paperwork to the IRS whenever they did more than $600 of business. Send one of your sales people to New York for a couple of nights? They would have to get the tax ID for the hotel and submit a form to the IRS. Buy a printer for the office? The printer company would need to provide a tax ID and the purchaser would have to submit a form to the IRS. o Have a retirement dinner for somebody in the accounting department? Get the restaurant’s tax ID and submit another form to the IRS. This system was seen as a nightmare, even leading to rather amusing cartoons mocking ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4952804 Mon, 20 Jun 2011 15:55:16 +0100 4952804 http://www.medworm.com/index.php?rid=4828856&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FRs9Wy_iJqXs%2F By John SamplesThe Internal Revenue Service is investigating campaign donations to groups incorporated under 501(c)(4) of the tax code. Some in the IRS apparently hope to apply gift taxes to the contributions. Higher taxes on an activity would generally lead to less of that activity, especially if a good substitute exists that is not taxed. In this case, donors could give money to 527 groups. Such donations are exempt from taxation. But 527 groups are subject to disclosure of donors. The IRS investigations involve tax provisions “that had rarely, if ever, been enforced.” Why now? We do not know. But 501(c)(4) groups played in a important part in the 2010 campaign. As you know, the party in power lost control of the House of Representatives in 2010.  With the president’... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4828856 Mon, 16 May 2011 14:53:51 +0100 4828856 http://www.medworm.com/index.php?rid=4753666&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F3hDFR4atXeA%2F By Alan Reynolds“In the last decade, the average income of the bottom 90 percent of all working Americans actually declined,” Obama said on April 13. “The top 1 percent saw their income rise by an average of more than a quarter of a million dollars each.” Politi-Fact, partly on the basis of my own research, generously rates the president’s claim as “Half True.” The truth is that the President’s source, Thomas Piketty and Emmanuel Saez, refer only to pretax, pretransfer income reported on individual tax returns (as opposed to being sheltered inside a corporation or IRA or simply unreported), and they have no data on the bottom 90%. Worst of all, they leave out transfer payments, which amounted to $2.3 trillion last year — 44% as large as a... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4753666 Tue, 26 Apr 2011 19:55:08 +0100 4753666 http://www.medworm.com/index.php?rid=4747602&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FOOz5ZFxMdvA%2F By Daniel J. MitchellThere hasn’t been much good economic news in recent years, but one bright spot for the economy is that the United States is a haven for foreign investors and this has helped attract more than $10 trillion to American capital markets according to Commerce Department data. These funds are hugely important for the health of the U.S. financial sector and are a critical source of funds for new job creation and other forms of investment. This is a credit to the competitiveness of American banks and other financial institutions, but we also should give credit to politicians. For more than 90 years, Congress has approved and maintained laws to attract investment from overseas. As a general rule, foreigners are not taxed on interest they earn in America. Moreover, by not... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4747602 Mon, 25 Apr 2011 12:40:43 +0100 4747602 http://www.medworm.com/index.php?rid=4734063&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FOJ5BsPWZczg%2F By George Scoville Please join us this Thursday, April 21 at 4:00 p.m. Eastern for a book forum and debate on “green energy” policy, following the recent release of the Cato book The False Promise of Green Energy. On Thursday, University of Alabama Professor of Law and Business Andrew P. Morriss (one of the book’s authors) and Center for American Progress Vice President for Energy Policy Kate Gordon will debate the merits of the “green” economic agenda, moderated by Cato Institute Senior Fellow Jerry Taylor. Complimentary registration is required of all attendees by noon TOMORROW, Wednesday, April 20. We hope you can join us in person and for the reception following the event–if you cannot attend in person, we hope you’ll tune in online or on Faceb... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4734063 Tue, 19 Apr 2011 14:29:37 +0100 4734063 http://www.medworm.com/index.php?rid=4723792&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FG4RMdp2wHCI%2F By Daniel J. MitchellSince it is tax-filing season and we all want to honor our wonderful tax system, let’s go into the archives and show this video from last year about the onerous compliance costs of the internal revenue code. Narrated by Hiwa Alaghebandian of the American Enterprise Institute, the mini-documentary explains how needless complexity creates an added burden – sort of like a hidden tax that we pay for the supposed privilege of paying taxes. Two things from the video are worth highlighting. First, we should make sure to put most of the blame on Congress. As Ms. Alaghebandian notes, the IRS is in the unenviable position of trying to enforce Byzantine tax laws. Yes, there are examples of grotesque IRS abuse, but even the most angelic group of bureaucrats would have... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4723792 Mon, 18 Apr 2011 13:03:38 +0100 4723792 http://www.medworm.com/index.php?rid=4696617&cid=t_150403_87_f&fid=39187&url=http%3A%2F%2Fgetbetterhealth.com%2Fin-brief-new-accountable-care-organization-aco-regulations%2F2011.04.11 ACO regulations and related federal issuances hit the street last Thursday, after several months of waiting — from CMS, OIG, FTC, DOJ and IRS.  They cover the waterfront, ranging from the central regulation defining the structure and workings of the ACO, to  limited Stark self-referral ban and anti-kickback statute waivers in the fraud and abuse arena, to new frameworks for antitrust analysis, to rules governing joint ventures involving taxable and tax-exempt organizations. I had the opportunity to discuss the regs the day after they were issued on a special edition of the Blog Talk Radio show, ACO Watch, hosted by Gregg Masters (@2healthguru).  Gregg’s guests included Mark Browne (@consultdoc), Vince Kuraitis (@VinceKuraitis), Jaan Sidorov (@DisMgtCareBlog) and yours truly ... Better Health blogs http://www.medworm.com/rss/comments.php?id=4696617 Mon, 11 Apr 2011 12:00:09 +0100 4696617 http://www.medworm.com/index.php?rid=4670203&cid=t_150403_114_f&fid=34648&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FHealthBlawg%2F%7E3%2FEuBxzB-YbdY%2Faccountable-care-organization-aco-regulations-first-look.html ACO regulations and related federal issuances hit the street last Thursday, after several months of waiting -- from CMS, OIG, FTC, DOJ and IRS.  They cover the waterfront, ranging from the central regulation defining the structure and workings of the ACO, to  limited Stark self-referral ban and anti-kickback statute waivers in the fraud and abuse arena, to new frameworks for antitrust analysis, to rules governing joint ventures involving taxable and tax-exempt organizations.  I had the opportunity to discuss the regs the day after they were issued on a special edition of the Blog Talk Radio show, ACO Watch, hosted by Gregg Masters (@2healthguru).  Gregg's guests included Mark Browne (@consultdoc), Vince Kuraitis (@VinceKuraitis), Jaan Sidorov (@DisMgtCareBlog) and yours truly (@health... HealthBlawg :: David Harlow's Health Care Law Blog blogs http://www.medworm.com/rss/comments.php?id=4670203 Sun, 03 Apr 2011 14:07:31 +0100 4670203 http://www.medworm.com/index.php?rid=4664312&cid=t_150403_114_f&fid=34648&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FHealthBlawg%2F%7E3%2FwCXPiE0r0eI%2Faccountable-care-organization-proposed-regulations-released-for-public-comment.html The long-awaited ACO regulations were released by CMS in draft form today, accompanied by a series of conference calls for different constituencies.  Here is a mirrored copy: Medicare Program; Medicare Shared Savings Program: Accountable Care Organizations - Proposed rule. // <![CDATA[ // <![CDATA[ // <![CDATA[ // <![CDATA[ // <![CDATA[ // <![CDATA[ // <![CDATA[ // <![CDATA[ // <![CDATA[ (function() { var scribd = document.createElement("script"); scribd.type = "text/javascript&... HealthBlawg :: David Harlow's Health Care Law Blog blogs http://www.medworm.com/rss/comments.php?id=4664312 Fri, 01 Apr 2011 07:10:32 +0100 4664312 http://www.medworm.com/index.php?rid=4642575&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0-9tGgFrTbk%2F By Daniel J. MitchellA previous post of mine at International Liberty addressed the debate over whether Republicans should trim the IRS's budget. The following case study should convince everyone that the answer is a resounding yes. First, some background from a Joe Nocera column in the New York Times. The federal government made a rather troubling decision a few years ago to investigate, prosecute, and ultimately imprison a random home-loan borrower named Charlie Engle for the crime of mortgage fraud. Mr. Engle is far from blameless in this saga, but I noted in another post that it was rather odd that the government would target a nobody while letting all the big fish swim away. This episode certainly paints a picture of a government that has one set of rules for ordinary people, but a... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4642575 Mon, 28 Mar 2011 12:08:00 +0100 4642575 http://www.medworm.com/index.php?rid=4560252&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIbBKouCMHwQ%2F By Daniel J. MitchellOne of my many frustrations of working in Washington is dealing with perpetual-motion-machine assertions. The classic example is Keynesian economics, which is based on the notion that you magically create additional economic activity by having the government spend money instead of allowing the private sector to decide how it gets spent (in an especially bizarre display of this thinking, Nancy Pelosi actually said that subsidizing unemployment was the best way to create jobs). Another example of this backwards analysis can be found in the debate over the IRS budget. The President is resisting a GOP proposal to modestly trim the IRS's gargantuan $12.5 billion budget and his argument is that we should actually boost funding for the tax collection bureaucracy since that wi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4560252 Mon, 07 Mar 2011 13:54:23 +0100 4560252 http://www.medworm.com/index.php?rid=4522086&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FzN9pJ3TR6_Q%2F By Tad DeHavenOver at Downsizing Government, we focused on the following issues this week: On getting out of Afghanistan. $61 billion in spending cuts amounts to less than a third of what taxpayers will pay in interest on the debt alone this year. The political stakes in the latest debt ceiling game are high. The consequences of failing to use it as an opportunity to start reining in the federal government are even higher. The IRS is handing out "free" candy. New data from the Federal Aviation Administration shows that reported air traffic control errors have increased by 81 percent since 2007. This Week in Government Failure is a post from Cato @ Liberty - Cato Institute Blog (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4522086 Fri, 25 Feb 2011 22:26:28 +0100 4522086 http://www.medworm.com/index.php?rid=4433086&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2i4m6WXAzh4%2F By Daniel J. MitchellThe Internal Revenue Code is nightmarishly complex, as illustrated by this video. Americans spend more than 7 billion hours each year in a hopeless effort to figure out how to deal with more than 7 million words of tax law and regulation. Why does this mess exist? The simple answer is that politicians benefit from the current mess, using their power over tax laws to raise campaign cash, reward friends, punish enemies, and play politics. This argument certainly has merit, and it definitely helps explain why the political class is so hostile to a simple and fair flat tax. But a big part of the problem is that tax lawyers dominate the tax-lawmaking process. Almost all the decision-making professionals at the tax-writing committees (Ways & Means Committee in the House ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4433086 Thu, 03 Feb 2011 16:30:45 +0100 4433086 http://www.medworm.com/index.php?rid=4419140&cid=t_150403_87_f&fid=39187&url=http%3A%2F%2Fgetbetterhealth.com%2Fmessage-to-the-irs-leave-medicine-to-the-experts%2F2011.01.31 I saw this via a friend’s Facebook post: Really, IRS? Believe it or not, the folks at the IRS think they know more about breastfeeding than doctors and medical researchers. According to an article in the New York Times, the Internal Revenue Service has determined that breastfeeding “does not have enough health benefits to qualify as a form of medical care.”  Therefore, women cannot count expenses for breastfeeding supplies in their tax-sheltered healthcare spending accounts. In doing so, the IRS has ignored the guidance of experts at the Department of Health & Human Services and World Health Organization who are actively promoting breastfeeding because of its significant health benefits for mothers and children. Sign our petition reminding the IRS to leave medicine to the expert... Better Health blogs http://www.medworm.com/rss/comments.php?id=4419140 Mon, 31 Jan 2011 14:00:26 +0100 4419140 http://www.medworm.com/index.php?rid=4360961&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fhawc3g-lwJo%2F By Daniel J. MitchellI’m not a big fan of the Internal Revenue Service, but I try not to demonize the bureaucrats because politicians actually deserve most of the blame for America’s complex, unfair, and corrupt tax system. The IRS generally is in the unenviable position of simply trying to enforce very bad laws. But sometimes the IRS runs amok and the agency deserves to be held in contempt by the American people Let’s look at a grotesque example of IRS misbehavior. It deals with a seemingly arcane issue, but it has big implications for the US economy, the rule of law, and human rights. On January 7, the tax-collection bureaucracy proposed a regulation that, if implemented, would force American financial institutions to put foreign tax law above US tax law. Banks would be require... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4360961 Tue, 18 Jan 2011 14:44:54 +0100 4360961 http://www.medworm.com/index.php?rid=4225223&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FglTMWj5Sjmg%2F By Michael F. CannonSupporters have gone to great lengths to make ObamaCare appear popular or to make repeal seem impossible.  But this op-ed by my friend Jonathan Cohn made my jaw drop. First, Cohn notes that the Senate recently voted down two efforts to repeal one of ObamaCare’s more unpopular provisions: the “1099 reporting tax,” which will place an enormous burden on small businesses.  ”Neither provision,” Cohn obliquely reports, “got enough votes to pass.”  He concludes: Critics of health care reform [sic] this week thought they would get their first win in the campaign to repeal the Patient Protection and Affordable Care Act. Instead they got a lesson in just how politically challenging a wholesale repeal might be. If opponents can’t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4225223 Thu, 02 Dec 2010 21:31:34 +0100 4225223 http://www.medworm.com/index.php?rid=4207287&cid=t_150403_87_f&fid=39187&url=http%3A%2F%2Fgetbetterhealth.com%2Fbiotech-and-life-sciences-grant-program-only-a-few-crumbs-to-go-around%2F2010.11.29 After assuming control of the House in the mid-term elections, Republicans vowed to eviscerate the Affordable Care Act, the health reform law signed by the “Big O” last March. Thank heavens, therefore, that the Boehners were too busy congratulating themselves to even notice those federal helicopters dumping $1 billion in cash on some needy biotech companies just as the election results were being tallied. Yep, it happened. Federal disbursements in the form of grants and tax credits were made last week, as required by a provision in the reform law known as the Qualifying Therapeutic Discovery Project Program. According to the terms of this program, biotech and life sciences companies with less than 250 employees could apply for federal funds to cover research costs they had incu... Better Health blogs http://www.medworm.com/rss/comments.php?id=4207287 Mon, 29 Nov 2010 13:00:34 +0100 4207287 http://www.medworm.com/index.php?rid=4118880&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FVdlSKYilLUY%2F By Daniel J. MitchellIn the past 15 years, I’ve debated in favor of a national sales tax, testified before Congress on the merits of a national sales tax, gone on TV to advocate for a national sales tax, and spoken with dozens of reporters to explain why a national sales tax is a good idea. Even though I prefer a flat tax, I’ve been an ardent defender of sales tax proposals such as the FAIR tax because it would be a great idea to replace the current system with any low-rate system that gets rid of the tax bias against saving and investment. I even narrated this video explaining that a national sales tax and flat tax are different sides of the same coin — and therefore either tax reform proposal would significantly improve prosperity and competitiveness. I will continue to d... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4118880 Fri, 29 Oct 2010 15:24:37 +0100 4118880 http://www.medworm.com/index.php?rid=3993881&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FevdN6f_RRzU%2F By Daniel J. MitchellOur tax system in America is an absurd nightmare, but at least we have some ability to monitor what is happening. We can’t get too aggressive (nobody wants the ogres at the IRS breathing down their necks), but at least we can adjust our withholding levels and control what gets put on our annual tax returns. The serfs in the United Kingdom are in much worse shape. To a large degree, the tax authority (Inland Revenue) decides everyone’s tax liability, and taxpayers have no role other than to meekly acquiesce. But now the statists over in London have decided to go one step farther and have proposed to require employers to send all paychecks directly to the government. The politicians and bureaucrats that comprise the ruling class then would decide how much to... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3993881 Tue, 21 Sep 2010 20:54:30 +0100 3993881 http://www.medworm.com/index.php?rid=3954224&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAnycXvlRsU8%2F By Daniel J. MitchellI sympathize with almost all taxpayers, but it’s difficult to feel sorry for government workers who get in trouble with the IRS. Compensation packages for federal bureaucrats are twice as lucrative as those for workers in the productive sector of the economy and their pensions are similarly extravagant. Yet they often can’t be bothered to fully pay their taxes, owing billions of dollars to the IRS according to a Washington Post report. Among the biggest scofflaws are the folks at the Postal Service, who have accumulated more than $283 million of unpaid taxes. Retired bureaucrats, meanwhile, have amassed nearly $455 million of back taxes. Even tax collectors sometimes fall behind. Treasury Department bureaucrats owe $7.7 million. How hard can it be for them ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3954224 Thu, 09 Sep 2010 19:08:47 +0100 3954224 http://www.medworm.com/index.php?rid=3812969&cid=t_150403_87_f&fid=38368&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FDisruptiveWomenInHealthCare%2F%7E3%2FhOq4hxB69ss%2F   Debates continue about the impact of health reform on small businesses. Mine is a small business so I’ve been paying close attention. I’ve even read every line of this legislation – three times. And every pundit analysis I can get my hands on. My role as a strategist requires that I understand the law. My role as a business owner requires that as well. Most analyses make broad-brush statements and it’s not possible to know the full impact until each business does its own analysis. Here’s mine. Unfortunately, there are no ‘upsides’ for my employees or business: My company is too small to be required to provide health insurance. That’s of no matter, I’ve been providing it all along. My company is unlikely to grow to the size required to provide health insurance. That’... Disruptive Women in Health Care blogs http://www.medworm.com/rss/comments.php?id=3812969 Mon, 02 Aug 2010 12:01:36 +0100 3812969 http://www.medworm.com/index.php?rid=3767064&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FLLkKlgoFHPs%2F By Ilya ShapiroThis Sunday’s New York Times had a fascinating story about how the defense of the individual mandate has shifted from the Commerce Clause — even though the law itself is replete with boilerplate about “economic activity” — to Congress’s taxing power.  Here’s the first paragraph (h/t Jonathan Adler): When Congress required most Americans to obtain health insurance or pay a penalty, Democrats denied that they were creating a new tax. But in court, the Obama administration and its allies now defend the requirement as an exercise of the government’s “power to lay and collect taxes.” This is huge.  After months of arguing that cases like Wickard v. Filburn (Congress can regulate the wheat farmers grow for personal consumption) an... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3767064 Mon, 19 Jul 2010 12:42:09 +0100 3767064 http://www.medworm.com/index.php?rid=3764133&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FRzjVCXVBnZI%2F By Daniel J. MitchellThe Financial Times reports that the number of Americans giving up their citizenship to protect their families from America’s onerous worldwide tax system has jumped rapidly. Even relatively high-tax nations such as the United Kingdom are attractive compared to the class-warfare system that President Obama is creating in the United States. I run into people like this quite often as part of my travels. They are intensely patriotic to America as a nation, but they have lots of scorn for the federal government. Statists are perfectly willing to forgive terrorists like William Ayres, but they heap scorn on these “Benedict Arnold” taxpayers. But the tax exiles get the last laugh since the bureaucrats and politicians now get zero percent of their foreign-... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3764133 Sun, 18 Jul 2010 12:54:32 +0100 3764133 http://www.medworm.com/index.php?rid=3549288&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FcaAtJdJuktM%2F By Michael F. CannonUtah Republicans will not be re-nominating U.S. Senator Bob Bennett (R-UT) for another term.  A principal reason appears to be their displeasure over a health care bill that Bennett teamed with Sen. Ron Wyden (D-OR) to sponsor. Some commentators decry how Bennett’s ouster demonstrates that the Republican party has lurched to the right.  That’s a reasonable interpretation if you believe, as conservative Washington Post columnist Kathleen Parker does, that Wyden-Bennett was a moderate, “market-driven” bill. Rather than a moderate, market-driven bill, Wyden-Bennett would have created “Medicare Advantage for All.” It would have made health insurance compulsory for all Americans, and imposed stringent government controls on what type ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3549288 Mon, 10 May 2010 15:42:05 +0100 3549288 http://www.medworm.com/index.php?rid=3504893&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FEpY0J8RzU2o%2F By Chris EdwardsMost people know about the individual mandate in the new health care bill, but the bill contained another mandate that could be far more costly. A few wording changes to the tax code’s section 6041 regarding 1099 reporting were slipped into the 2000-page health legislation. The changes will force millions of businesses to issue hundreds of millions, perhaps billions, of additional IRS Form 1099s and related W-2s every year. It appears to be a costly, anti-business nightmare. Under current law, businesses are required to issue 1099s in a limited set of situations, such as when paying outside consultants. The health care bill includes a vast expansion in this information reporting requirement in an attempt to raise revenue for an increasingly rapacious Congress. In a recent... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3504893 Mon, 26 Apr 2010 15:57:54 +0100 3504893 http://www.medworm.com/index.php?rid=3482881&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fy4tnAvaQFdc%2F By David BoazThe Washington Post launches a new weekly today, Capital Business, covering business in the Washington area. The cover of the first edition is striking: As the cover line exults, “There’s a wave of government money headed our way — bringing opportunities in health care, green energy, cybersecurity and education.” Of course, it’s not actually “government money” — it’s money taxed or borrowed from those who produce it in the 50 states and then sprinkled liberally around the Washington area, which now contains 6 of the 10 richest counties in America. If the Capital Business cover image had a few more arms, it would look like the logo for this year’s Cato University, “Confronting Grasping Government“: (Sourc... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3482881 Mon, 19 Apr 2010 14:45:10 +0100 3482881 http://www.medworm.com/index.php?rid=3480783&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FMRf7cVB6-hs%2F By Daniel J. MitchellBeing an American citizen is an honor in many ways, but it is a huge millstone around the neck for highly successful investors and entrepreneurs because of an oppressive and complex tax system. This is particularly true for those based in and/or competing in global markets. Indeed, because the tax system (and regulatory system) is so onerous and because it is expected to get far worse in the future, a growing number of Americans are actually giving up citizenship and “voting with their feet.” The politicians view these people as “tax traitors” and are trying to erect higher barriers to hinder economic migration, particularly in the form of confiscatory “exit taxes” that are disturbingly reminiscent of the totalitarian practices of s... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3480783 Sun, 18 Apr 2010 12:04:57 +0100 3480783 http://www.medworm.com/index.php?rid=3475810&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fk9hYQOZJtso%2F By Daniel J. MitchellLike a good peasant, I have already filed an extension, so I am at least temporarily compliant with the friendly people at the IRS. But since it is tax day, perhaps a slight bit of criticism of the tax code is warranted. I have already posted my video on the flat tax and warned about the risks of adding a value-added tax on top of the income tax in another video. I also posted a very successful video narrated by a former Cato intern about the harsh compliance costs of the internal revenue code. So it is time to reach into the archives and post this classic video produced by Caleb Brown and Austin Bragg of the Cato Institute. P.S. Not that I would ever want to put my thumb on the scale of any contest, but I am defending the flat tax in an online debate for U.S. News &... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3475810 Thu, 15 Apr 2010 18:56:51 +0100 3475810 http://www.medworm.com/index.php?rid=3460149&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fln1QarG0zcY%2F By Daniel J. MitchellMy former intern, Hiwa Alaghebandian, has just narrated a new Economics 101 video about the cost of the tax code. I won’t spoil the surprise by giving the details, but you if you’re not angry now, you will be after watching. In the video, Ms. Alaghebandian notes that a study from 1996 (back when the tax code was not nearly as complex) estimated that a flat tax would reduce the compliance burden of the income tax by 94 percent. In my video on the flat tax, I mostly focused on how a single-rate, consumption-base system would boost growth and competitiveness, but simplicity also would be a remarkable achievement. Not only would real tax reform reduce compliance costs by hundreds of billions of dollars, it would also put a big dent in the corrupt practice ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3460149 Mon, 12 Apr 2010 14:16:47 +0100 3460149 http://www.medworm.com/index.php?rid=3456919&cid=t_150403_180_f&fid=38612&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fpickthebrain%2FLYVv%2F%7E3%2FBLxLr872sL4%2F I’ve got a tax tip that won’t save you any money, but it will save you something far more valuable . . . time. The IRS says the average American spends 21.4 hours completing their 1040 tax return. It’s this “hidden” tax — the sacrifice of not your dollars but your other 8 hours — that you can reduce. And the good news is this tax tip won’t increase your risk of an IRS audit. Here are three ways to save time filing your taxes: | 1. Mint.com | I love this free service. If you haven’t heard of it yet, do yourself a favor and check them out. Mint is an online budgeting site for people who hate budgets. They are magicians. Through sleight of hand, your budget will appear with very little effort on your part. But in addition to helping you... PickTheBrain | Motivation and Self Improvement blogs http://www.medworm.com/rss/comments.php?id=3456919 Sat, 10 Apr 2010 05:57:21 +0100 3456919 http://www.medworm.com/index.php?rid=3448844&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FbFVtG7fuqj4%2F By Daniel J. MitchellA Washington Post columnist reports on a group of limousine liberals who are lobbying to pay more taxes. Of course, there’s no law that prevents them from writing big checks to the government and voluntarily paying more, so what they’re really lobbying for is higher taxes on the vast majority of investors and entrepreneurs who don’t want more of their income confiscated by the clowns in Washington and squandered on corrupt and inefficient programs: A group of liberals got together Tuesday and proved that they, too, can have a tax rebellion. But theirs is a little bit different: They want to pay more taxes. “I’m in favor of higher taxes on people like me,” declared Eric Schoenberg, who is sitting on an investment banking fortune. He c... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3448844 Wed, 07 Apr 2010 17:01:20 +0100 3448844 http://www.medworm.com/index.php?rid=3416010&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FFHf2p46l2Iw%2F By Daniel J. MitchellAmerica’s biggest fiscal challenge is excessive government spending. The public sector is far too large today and it is projected to get much bigger in coming decades. But the corrupt and punitive internal revenue code is second on the list of fiscal problems. This new video, narrated by yours truly, explains how a flat tax would work and why it would promote growth and fairness. Something to keep in mind with tax day in just a couple of weeks. There are two big hurdles that must be overcome to achieve tax reform. The first obstacle is that the class-warfare crowd wants the tax code to penalize success with high tax rates. That issue is addressed in the video in a couple of ways. I explain that fairness should be defined as treating all people equally, and I als... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3416010 Mon, 29 Mar 2010 13:58:39 +0100 3416010 http://www.medworm.com/index.php?rid=3390873&cid=t_150403_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fdentists-tax-deduction-up-to-250k%2F As part of the Jobs Bill that President Obama signed TODAY, small businesses can NOW accelerate the depreciation on investments they make in equipment, by allowing them to write off purchases of up to $250,000 right away.  Additional Information is at www.henryschein.com/hsfs.  Section 179 is scheduled to go down to $25,000 in 2011. Keith D. Drayer Vice President 631-843-5625 keith.drayer@henryschein.com (Source: dental blog for dentists about dentistry) dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=3390873 Mon, 22 Mar 2010 13:42:38 +0100 3390873 http://www.medworm.com/index.php?rid=3378459&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FC2a-Db-bt_8%2F By Mark A. CalabriaMoody’s has announced that it will change its methods for rating debt issued by state and local governments.  Politicians have argued that its current ratings ignore the historically low default rate of municipal bonds, resulting in higher interest rates being paid on muni debt, or so argue the politicians. First this argument ignores that the market determines the cost of borrowing, not the rating.  And while ratings are considered by market participants, one can easily find similarly rated bonds that trade at different yields. Second, while ratings should give some weight to historical performance, far more weight should be given to expected future performance.  Regardless of how say California-issued debt has performed in the past, does anyone doubt that Cali... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3378459 Wed, 17 Mar 2010 20:03:58 +0100 3378459 http://www.medworm.com/index.php?rid=3342638&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FDgss7Ji69TQ%2F By Daniel J. MitchellPresident Obama is proposing a series of major tax increases. His budget envisions higher tax rates on personal income, increased double taxation of dividends and capital gains, and a big increase in the death tax. And his health care plan includes significant tax hikes, including perhaps the imposition of the Medicare payroll tax on capital income — thus exacerbating the tax code’s bias against saving and investment. It is unclear why the White House is pursuing these punitive policies. The President said during the 2008 campaign that he favored soak-the-rich taxes even if they did not raise revenue, but his budget predicts the proposals will raise lots of money. Because of the Laffer Curve, it is highly unlikely that all of this additional revenue will ma... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3342638 Mon, 08 Mar 2010 13:34:14 +0100 3342638 http://www.medworm.com/index.php?rid=3243772&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGDIc5SCJuNk%2F By Daniel J. MitchellPoliticians in Washington have come up with something far more impressive than turning lead into gold or water into wine. Using self-serving budget rules, they can increase the burden of government spending and say they are cutting taxes instead. This bit of legerdemain is made possible, thanks to the convolutions of the personal income tax, by adopting or expanding refundable tax credits. But in this case, “refundable” does not mean the government is returning money to taxpayers. Instead, it means that money is being redistributed to people who do not earn enough to be subject to the income tax. This is hardly a trivial issue. According to the Congressional Budget Office, the amount of income redistribution being laundered through the tax code is now so la... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3243772 Fri, 05 Feb 2010 15:26:56 +0100 3243772 http://www.medworm.com/index.php?rid=3244097&cid=t_150403_180_f&fid=38610&url=http%3A%2F%2Fwww.productivity501.com%2Ffree-tax-preparation-sites%2F3784%2F With April 15th rapidly approaching, many will start looking for fast, efficient ways to file taxes. Here are a few free sites that offer free filing services: http://free.free1040taxreturn.com/ http://www.fileyourtaxes.com/Alliance http://www.eztaxreturn.com/scriptsez/start.exe/eztax/p/alliance2009/start.html?r_link=www.irs.gov http://www.efiletaxreturns.net/home.aspx http://www.completetax.com/FFAindex.asp?welcome=GY1318083 http://www.taxactonline.com/index.asp?sc=0850302 http://free.123easytaxfiling.com/ http://www.1040now.net/freefile.htm http://www.free-tax-return.com/2008/ http://www.icanfreefile.org/ http://www.taxslayer.com/americanpledge/default.aspx?source=ihtffgtsd https://www.taxsimple.org/index.aspx http://onlinetaxpros.com/index.php?linkid=ff http://citizentaxfree.com/ http... Productivity501 blogs http://www.medworm.com/rss/comments.php?id=3244097 Thu, 04 Feb 2010 18:00:45 +0100 3244097 http://www.medworm.com/index.php?rid=3200420&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F7LjzmN67R6o%2F By Daniel J. MitchellA Swiss court just threw a wrench in the gears of an IRS effort to impose bad U.S. tax law on an extraterritorial basis, ruling that Switzerland-based UBS does not have to hand over data to the American tax authorities. This ruling nullifies an agreement that the Swiss government was coerced into making with the U.S. government last year. In typical arrogant fashion, the IRS already has indicated that it still expects acquiescence, notwithstanding Switzerland’s strong human rights policy on personal privacy. The Bloomberg story excerpted below has the details, but it’s worth noting that this entire fight exists solely because the Internal Revenue Code imposes double taxation on income that is saved and invested, and imposes that bad policy on economic acti... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3200420 Fri, 22 Jan 2010 21:51:33 +0100 3200420 http://www.medworm.com/index.php?rid=3171885&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIn435zpiq7c%2F By Chris EdwardsWe’ve got an IRS Commissioner who doesn’t even do his own taxes, and is not embarrassed about it. We’ve got complex deductions that nobody understands, including the government, as the Maryland nurse with the MBA found out. We’ve got a Treasury Secretary and other high appointees who apparently cheated on their taxes. And we’ve got the Democrats hell-bent on greatly increasing the power and responsibilities of the overwhelmed IRS with their health care bill. Now, more than ever, it’s time to scrap the current income tax and put in a flat tax. Or at least we could take a big jump in that direction with a “Simplified Tax,” as discussed in a new National Academies report. Get rid of all almost all deductions, exemptions, and cr... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3171885 Wed, 13 Jan 2010 19:21:59 +0100 3171885 http://www.medworm.com/index.php?rid=3149033&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FDm_nrwtWRKc%2F By Jason KuznickiThe most interesting libertarian-related conversation I’ve read today comes from Rortybomb, by way of Andrew Sullivan, with commentary by Megan McArdle. Here’s a challenge to libertarians from Rortybomb, aka Mike Konczal: I want to pitch to the credit card and financial industry a new innovative online survey. It is targeted for older, more mature long-time users of our services. We’ll give a $10 credit for anyone who completes it. Here is a sense of what the questions will look like: - 1) What is your age? - 2) What day of the week are you taking this survey? - 3) Many rewards offered are for people with more active lifestyles: vacations, flights, hotels, rental cars. Do you find that your rewards programs aren’t well suited for your lifestyle? - 4) What i... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3149033 Wed, 06 Jan 2010 19:36:45 +0100 3149033 http://www.medworm.com/index.php?rid=3145958&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FZD-eVeJSTKk%2F By Daniel J. MitchellThe late George Stigler, winner of the Nobel Prize in economics, is famous in part because of his work on “regulatory capture,” which occurs when interest groups use the coercive power of government to thwart competition and undeservedly line their own pockets. A perfect (and distasteful) example of this can be found in today’s Washington Post, which reports that the IRS plans to impose new regulations dictating who can prepare tax returns. Not surprisingly, the new rules have the support of big tax preparation shops such as H&R Block and Jackson Hewitt, which see this as an opportunity to squeeze smaller competitors out of the market. The IRS and the big firms claim more regulations are needed to protect consumers from shoddy work, but this is th... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3145958 Tue, 05 Jan 2010 17:56:46 +0100 3145958 http://www.medworm.com/index.php?rid=3118854&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F3_qewLq2PYM%2F By Daniel J. MitchellHere are a few stories to bring holiday cheer for taxpayers. First, we have an Associated Press report that several hundred thousand federal bureaucrats have serious tax delinquencies. The Department of Housing and Urban Development always ranks high on the list of government entities that should be abolished, so it’s interesting to see that HUD bureaucrats are most likely to be dodging their taxes: More than 276,000 federal employees and retirees owed back income taxes as of Sept. 30, 2008, according to data from the Internal Revenue Service. The $3.04 billion owed was up from $2.7 billion owed by federal employees and retirees in 2007. Among cabinet agencies, the Department of Housing and Urban Development had the highest delinquency rate, at just over 4 percen... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3118854 Thu, 24 Dec 2009 15:43:36 +0100 3118854 http://www.medworm.com/index.php?rid=3111397&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FBa_NOwGoPUI%2F By Daniel J. MitchellThis is the last week to buy presents, so for those of you who can’t find zhu zhu pets, here are a couple of options sure to bring a smile. The first option is a long-sleeved t-shirt honoring the Secretary of the Treasury. If t-shirts are not high on the list for your friends and family, here’s something everyone can use. There are more than 70,000 pages of tax law and IRS regulation, and although there are not that many squares in this roll, all taxpayers will enjoy creating their own “performance art” with this gift (sadly, does not include a grant from the NEA). (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3111397 Mon, 21 Dec 2009 19:59:51 +0100 3111397 http://www.medworm.com/index.php?rid=2916167&cid=t_150403_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F10%2F22%2Fnami-nearly-75-percent-of-funding-from-pharma%2F As we noted in April, NAMI gets a significant portion of its funding from pharmaceutical companies. We had to guess at what that percentage was, however, because the National Alliance for Mental Illness (NAMI) refused to detail their pharmaceutical grants and donations in their annual reports and IRS filings. At the time, I was generous and said that it’s likely that 30 to 50 percent of NAMI’s funding came from pharmaceutical companies. I was off. Way off. The New York Times reported yesterday that nearly 75 percent of NAMI’s funding comes from pharmaceutical companies — $23 million over 3 years’ time: The mental health alliance, which is hugely influential in many state capitols, has refused for years to disclose specifics of its fund-raising, saying the det... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=2916167 Thu, 22 Oct 2009 14:07:40 +0100 2916167 http://www.medworm.com/index.php?rid=2920247&cid=t_150403_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F10%2F22%2Fnami-nearly-75-percent-of-funding-from-pharma%2F As we noted in April, NAMI gets a significant portion of its funding from pharmaceutical companies. We had to guess at what that percentage was, however, because the National Alliance for Mental Illness (NAMI) refused to detail their pharmaceutical grants and donations in their annual reports and IRS filings. At the time, I was generous and said that it’s likely that 30 to 50 percent of NAMI’s funding came from pharmaceutical companies. I was off. Way off. The New York Times reported yesterday that nearly 75 percent of NAMI’s donations come from pharmaceutical companies — $23 million over 3 years’ time: The mental health alliance, which is hugely influential in many state capitols, has refused for years to disclose specifics of its fund-raising, saying the de... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=2920247 Thu, 22 Oct 2009 12:12:58 +0100 2920247 http://www.medworm.com/index.php?rid=2741341&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FjWPKqE-3z8Y%2F Some well-known bloggers are being terrible bullies, beating up on private schools. Felix Salmon kicks things off by hoping the government tightens the definition of a “charitable” organization and begins taxing private schools who don’t “do a bit more to earn it.” Matt Yglesias agrees that private schools are mooching deadbeats and ups the ante, calling them actively harmful as well. Finally, Conor Clarke at The Atlantic agrees, but makes the other two look like panty-waists by proposing the government radically narrow what is considered a charity in the first place. Yglesias even has the temerity to indict private schools for the failure of NYC public schools: And as best one can tell, their main impact on the common weal is negative, drawing parents with resources and social c... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2741341 Thu, 27 Aug 2009 18:57:50 +0100 2741341 http://www.medworm.com/index.php?rid=2737700&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FZptJwMYfVis%2F My post yesterday on federal worker pay generated a large and aggressive response from federal workers, both in my inbox and on websites such as Fedsmith.com. (See also Federal Times and Govexec). Here are four points raised in criticism: First, people accuse me of producing distorted data somehow. Actually, it’s essentially just raw Bureau of Economic Analysis data, but the data is usually overlooked by the media because I don’t think the BEA puts out a press release on it. Anyway, the average wage data is from BEA Table 6.6D. The average compensation data is simply total compensation (Table 6.2D) divided by the number of workers (Table 6.5D). Second, people argue that reporting overall averages for wages and compensation is somehow illegitimate. People email me co... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2737700 Wed, 26 Aug 2009 17:19:26 +0100 2737700 http://www.medworm.com/index.php?rid=2715924&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FzuIp2BgI0Is%2F Mark Calabria notes how the form of salary scheme at financial institutions played no apparent role in sparking the financial crisis.  But that hasn’t stopped the federal pay czar from boasting about his power, even to regulate compensation set before he took office. Reports the Martha’s Vineyard Times: Speaking to a packed house in West Tisbury Sunday night, Kenneth Feinberg rejected the title of “compensation czar,” but he also said said his broad and “binding” authority over executive compensation includes not only the ability to trim 2009 compensation for some top executives but to change pay plans for second tier executives as well. In addition, Mr. Feinberg said he has the authority to “claw back” money already paid to executives ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2715924 Wed, 19 Aug 2009 15:08:56 +0100 2715924 http://www.medworm.com/index.php?rid=2645267&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAdadN9XnA6Y%2F A recent Gallup Poll surveyed the public’s impression of how various federal agencies were doing their job.  Of the agencies evaluated, on the bottom was the Federal Reserve Board.  Only 30 percent of the respondents rated the Fed’s performance as either excellent or good.  I can understand now why Chairman Bernanke felt the need to take his act on the road.  Even the IRS managed to get 40 percent of respondents to see its job performance as excellent or good. A majority of the public, 57 percent, sees the Fed’s current performance as either poor or fair. The result is not just driven by a general public disdain for federal agencies; over a majority of respondents thought such agencies as the Center for Disease Control, NASA and the FBI were doing an excellent or good... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2645267 Mon, 27 Jul 2009 16:45:32 +0100 2645267 http://www.medworm.com/index.php?rid=2473199&cid=t_150403_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fv8GX3cs3p0k%2F With about 100,000 employees (more than the CIA and FBI combined), the IRS has plenty of people who daydream about new ways of taking money from taxpayers. The latest scheme to emanate from the tax bureaucracy is to classify employer-provided cell phones as a taxable fringe benefit. To be fair, non-pecuniary forms of compensation should be treated the same as cash income, but a bit of common sense should apply. What happens with cell phone plans with unlimited minutes, meaning that a business is not paying extra for personal calls? And if the IRS does go down this path, why harrass individuals when it would be much easier to simply make a portion of cell phone costs non-deductible for companies? It almost seems as if the IRS wants to instigate a tax revolt. The Wall Street Journal reports... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2473199 Fri, 12 Jun 2009 14:53:12 +0100 2473199 http://www.medworm.com/index.php?rid=1618109&cid=t_150403_137_f&fid=35357&url=http%3A%2F%2Ffeeds.b5media.com%2F%7Er%2Fb5media%2FAlzheimersNotes%2F%7E3%2F334547912%2F AlzheimersNotes.com Have you considered a home business so you can afford to stay home to care for your Alzheimer’s family member?  Perhaps you already have one.  Are you knowledgeable about home business taxes? Jean Murray, at Small Business Boomers, has a great post with information and resources concerning what the IRS (Internal Revenue Service in the US) considers a true business. You might like to check out her, Boomers Retiring to “Fun” Businesses: Is birdwatching a business? She mentions some of the criteria the IRS uses to determine whether you’re entitled to deduct your losses from the business you’re operating or starting up. (Amazon image)  (c)2008 Mary Emma Allen Tags: Alzheimer's Notes, Alzheimers, alzheimers-caregivers, Alzheimers-disease, ca... Alzheimer's Notes blogs http://www.medworm.com/rss/comments.php?id=1618109 Sun, 13 Jul 2008 21:52:58 +0100 1618109 http://www.medworm.com/index.php?rid=1415071&cid=t_150403_117_f&fid=36026&url=http%3A%2F%2Fblog.healthtalk.com%2Fzimney%2Firs-tax-refund-and-economic-stimulus-rebate-checks-are-in-the-mail-spend-them-on-your-health%2F Many of you will soon be receiving an IRS income tax refund check, an Economic Stimulus payment check or both. Why not resolve now to take some or all of the money from those government rebate checks and use it to help improve your health? You can help the President’s Economic Stimulus plan and strengthen your health at the same time, just by spending that tax refund check on health-related products and services. Here’s my top ten list of things on which you could spend your IRS rebate check to improve your health: 1. Smoking cessation classes, kits, products or medications. If you smoke, the best thing you can do to improve your health is to stop. The American Cancer Society has a wealth of information on smoking cessation including aids you can buy. 2. Join a gym or health club, hire... Dr. Z's Medical Report blogs http://www.medworm.com/rss/comments.php?id=1415071 Thu, 01 May 2008 23:49:45 +0100 1415071 http://www.medworm.com/index.php?rid=1251877&cid=t_150403_109_f&fid=35677&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FBrainBasedBusiness%2F%7E3%2F239939893%2Firs_penalties_or_penitence.html Just home from a week in Canada, I was stunned to open a hefty and rather blunt 10 page notice from IRS.  Laden with penalties and consequences for a perceived error … the letter claimed to have found flawed figures in my accountant-completed 2006 tax return. Shaken by the letter's tone …  I read about the extra $40,000 … in supposedly unreported earnings. Then I found myself wondering how a small business could suck in $40,000 extra ... and not see it. It must have been an error I figured … because MITA wins international awards for its integrity. When it comes to finances, we deeply value honesty here at the MITA center.Yet IRS’s bold statement on the front page claimed that income figures reported in their files do not ... BrainBasedBusiness blogs http://www.medworm.com/rss/comments.php?id=1251877 Sat, 23 Feb 2008 13:19:06 +0100 1251877