The Real Reason Republicans Are Going after the IRS

The Real Reason Republicans Are Going after the IRS

It’s no secret that House Republicans don’t like the Internal Revenue Service. They’ve once again proposed cutting the agency’s already beleaguered funding, and they recently held a hearing to impeach its commissioner, John Koskinen. Koskinen’s alleged misdeeds stem...
Wall Street Should Pay a Sales Tax, Too

Wall Street Should Pay a Sales Tax, Too

In case there was any doubt, the presidential election fight has confirmed that blasting Wall Street, even eight years after the financial crisis, is still a vote-getter. Hillary Clinton has said she’d like to jail more bankers. Donald Trump has skewered the hedge...
The Five Worst Ideas Contained in Donald Trump’s Tax Plan

The Five Worst Ideas Contained in Donald Trump’s Tax Plan

Republican front-runner Donald Trump has just released his much-talked-about plan for restructuring the federal tax code. If you listened to his speeches, you might think it was full of benefits for working families and progressive ideas about asking the wealthy to...
These Hedges Need Trimming

These Hedges Need Trimming

They’re hunkering down at SAC Capital, the hedge fund empire of billionaire Steven A. Cohen. Federal prosecutors have been picking off SAC’s second bananas one by one, plea bargaining for information that brings them ever closer to Cohen. SAC coughed up...
Obama 2.0: Yes We Can Raise Taxes

Obama 2.0: Yes We Can Raise Taxes

Republicans seem to have something against tax increases. I get that. But it’s still not crazy to think we can win some important revenue battles during Obama 2.0. And given this country’s pressing needs – from repairing our infrastructure to...
Paulson’s Plaintive Plea

Paulson’s Plaintive Plea

Who’s the most befuddled Wall Streeter of all? The richest guy on the Street. In assessing the spreading public protest against the rampaging greed of today’s financial elite, John Paulson turns out to be as confused as a goat on Astroturf. Oh, he gets...

Food, Egypt, and Wall Street

The dramatic rise in food prices is fueling a great deal of discontent in Tunisia, Egypt and elsewhere. It’s a deep undercurrent propelling many of the poor, who face prospects of starvation to resort to the streets and to violence. According to the United...

Plutonomism

For the super-rich hoity-toities of our land, the democratic populism arising among the hoi polloi is unpleasant, messy, and…well, so common. Instead of that, they sniff, America should be ruled by an “ism” of their invention: plutonomism. Yes,...

Tax Day Talking Points

Today, we have a two-tier federal tax system: one tax system for the wealthy and powerful corporations and another tax system for everyone else. The tax system for the privileged features loopholes and special provisions that enable wealthy individuals and global...

Time to Clamp Down on Vulture Funds

A deadly and dangerous species of vulture is evolving. Policy experts are trying to trace the exact whereabouts of this new species because it has caused around $1 billion in damage to poor nations in recent years. These creatures have no feathers. They are predatory...

Executive Excess 2008: How Average Taxpayers Subsidize Runaway Pay

The U.S. tax code is riddled with loopholes that allow top corporate and financial leaders to avoid paying their fair share of taxes. Ordinary taxpayers wind up picking up the bill – to the tune of more than $20 billion per year. All five executive-friendly tax...

Despite the Mortgage Crisis, Hedge Funders Are Still Raking It In

You’ve probably been staying up nights worrying about how hedge fund managers are going to weather the credit crunch stemming from the subprime mortgage storm. These men are expected to really suffer since they borrow so heavily to finance their gambling in...