The History of Taxes, in One Mega-Rich Family

The History of Taxes, in One Mega-Rich Family

David Rockefeller has just passed away. You may have already heard that news. You may have not. America’s major media outlets haven’t treated Rockefeller’s death — at age 101 — as a top-of-the-news story. How things change. Once upon a time, any breaking news that...
Why 2016 May See a Record Top 1%

Why 2016 May See a Record Top 1%

How much income do you want to report next spring on your 2016 tax return? For most of us, that question rates as downright silly. We don’t get to choose how much income we report on our tax returns. The vast bulk of our annual income comes from our paychecks. We just...
The IRS at 100: How Income Taxation Built the Middle Class

The IRS at 100: How Income Taxation Built the Middle Class

Cross-posted from Reuters.com Exactly a century ago, on October 3, 1913, President Woodrow Wilson signed the first modern federal income tax into law. The sky did not fall. That may have surprised the eminences of the American plutocracy. For years they had predicted...
Happy Birthday, Dear Income Tax

Happy Birthday, Dear Income Tax

Cross-posted from The American Prospect’s website. In February 1913, exactly a century ago, the Sixteenth Amendment gave Congress a constitutional green light to levy a federal tax on income. Later that same year, lawmakers made good on that opportunity. An...

Maceo Protests at Deficit Talks in Washington

Rallies and demonstrations on the debt ceiling crisis are expected to roll through Washington throughout the weekend, as long as Congress, House Speaker John Boehner, and President Barack Obama fail to resolve the deficit crisis that threatens to take the U.S. and...