Phil Magness: Who Really Pays the Most Taxes?
Economist and author Phil Magness debunks a recent New York Times piece and shoddy academic work about the rich and their taxes.
Taxes
Zoning Regulations Empower Control Freaks—and Bigots
The Institute for Justice has launched a project to reform land use regulation.
Brace for Big Tax Hikes in 2026 Unless Congress Acts
The Tax Cuts and Jobs Act expires at the end of 2025, with a high price tag for most Americans.
The Federal Government is Literally Taxing Air
Arcane tax rules based on carbonation levels are flattening the growth of America's craft cider industry.
No, Unions Aren't Having a Resurgence—and That's Good for Workers
Private unions have every right to exist, but that doesn't mean they're actually beneficial on net.
Rescheduling Marijuana Does Not Address Today's Central Cannabis Issue
Moving marijuana to Schedule III, as the DEA plans to do, leaves federal pot prohibition essentially untouched.
These New York Agencies Benefit From Giving Away Taxpayer Money
A report from Good Jobs First found that 80 percent of state development agency revenue comes from fees: The more tax money they give out, the more they get to keep.
This Bill Would Give the Treasury Nearly Unlimited Power To Destroy Nonprofits
It supposedly bans financing terrorism, but that's already illegal. It's really a power grab for the secretary of the treasury.
This Tax Week, Remember That the Federal Income Tax Is Relatively New
There are many pervasive myths about the U.S. tax code. Here are a few.
Alvin Bragg Says Trump Tried To Conceal 'Another Crime.' What Crime?
The leading possibilities are all problematic in one way or another.
FAFSA Glitches Cause Chaos for Millions of College Students
A shoddy effort to simplify the financial aid form led to errors affecting 30 percent of this year's FAFSA applications.
Don't Forget To Claim Drug Dealing Income on Your Taxes
According to IRS guidance, any income derived from illegal activity is taxable, and there's no statute of limitations on when they can go after you.
Poll: A Majority of Las Vegas Voters Don't Want To Pay for Athletics' New Stadium
The team's owner, John Fisher, may have overestimated Las Vegas residents' enthusiasm for a new baseball team.
The Real Tax Gap
Wealthier Americans pay a record share of federal taxes, but voters (and President Joe Biden) believe they're freeloading.
Poll: Americans Don't Think All This Government Is Worth What We Pay for It
The situation is more dire when you consider how much federal spending is financed by debt.
Say No to This: America's Fiscal Norms Are in Decline
Despite their informal nature, those norms have historically constrained U.S. fiscal policy. But they're eroding.
The White House Lied About Its IRS Funding Only Targeting the Rich
Plus: A listener asks the editors for examples of left-leaning thinkers who also hold libertarian ideas.
Chicago Mayor's Solution to Homelessness Fails to Convince Voters
Instead of a hefty real estate tax hike, voters want more logical, long-term solutions to a genuine crisis.
Promise-Breaking IRS
Plus: Ethan Mollick on AI, Nancy Pelosi's kente cloth, hurricanes may destroy us all, and more...
Politicians Are Showering Manufacturing Companies With Crony Subsidies for 'Job Creation.' It Won't Work.
These handouts will flow to businesses—often big and rich—for projects they would likely have taken on anyway.
Taxpayers Refuse To Pay New Stadium Expenses for Billionaire Sports Owners
Jackson County, Missouri, voted not to extend a sales tax that would have benefited the Chiefs and the Royals.
New York's Pot Legalization 'Disaster' Was Entirely Predictable
The state’s policies and practices seemed designed to strangle the legal cannabis supply.
Taxpayers Will Soon Find Out if They'll Have To Finance Fancy Stadiums for the Chiefs and the Royals
Jackson County, Missouri, residents should not be billed for the undertakings of private businesses.
Squatters Invaded His Mom's House—so He Fought Back
Thanks to "squatters' rights" laws, evicting a squatter can be so expensive and cumbersome that some people simply walk away from their homes.
Biden and Trump Try To Wish Away the Looming Entitlement Crisis
Neither presidential candidate is willing to back the reforms necessary to close the gap between revenue and benefits.
Byzantine Tax Laws Threaten To Make Us All Tax Cheats
The Department of Justice is suing several tax preparers for filing fraudulent returns, but even honest filers risk running afoul of tax laws.
Political Stupidity and Bureaucratic Bungling Created New York's Pot Legalization 'Disaster'
Three years after the state legalized recreational marijuana, unauthorized weed shops outnumber licensed dispensaries by 23 to 1.
Biden's Proposed Corporate Tax Hike Will Punish the Average American
The president wants to raise the rate from 21 percent to 28 percent, despite it being well-established that this is the most economically-destructive method to raise government funds.
The White House Claims Borrowing $16 Trillion Over the Next Decade Is Fiscally Responsible
If you can't even get close to balancing the budget when unemployment is low, tax revenues are near record highs, and the economy is booming, when can you do it?
The State of the Union Is Shouty
Plus: A listener asks the editors a question about progressive taxation in the United States.
A Bipartisan Tax Hike Won't Fix This Deficit
The government needs to cut back on spending—and on the promises to special interests that fuel the spending.
The Economy Is Doing Way Better Than Many Believe
Despite the popular narrative, Millennials have dramatically more wealth than Gen Xers had at the same age, and incomes continue to grow with each new generation.
Congress Continues To Make the Tax Code Ridiculously Hard To Understand
I shouldn't have to spend so much money on an accountant every year. But I don't really have a choice.
A History of Taxpayer Revolts
Linda Upham-Bornstein's "Mr. Taxpayer versus Mr. Tax Spender" delivers an evenhanded view of American tax resistance movements.
On Taxes and Economic Freedom, Canadians Have It Worse Than Americans
Liberty to engage in voluntary transactions and keep our wealth varies across North America.
Expanding the Child Tax Credit Would Perpetuate Systemic Poverty
The policy is a true budget buster and is ineffective in the long term.
Shrinkflation Is Real—and It's Largely Biden's Fault
The president criticized companies for selling "smaller-than-usual products" whose "price stays the same." But it was his and his predecessor's spending policies that caused the underlying issue.
This 70-Year-Old Woman Might Lose Her $377,000 Home Over a Small Tax Debt
The Supreme Court supposedly put an end to “home equity theft” last year. But some state and local governments have found a loophole.
How Increasing Immigration Can Reduce the Deficit
And why the Congressional Budget Office does a poor job of making those estimates.
Millionaire Mars Missions
Plus: Republicans are trying to expand a tax deduction they once wanted to cap, a "shocking" and "stunning" January jobs report, and street blocking protestors in D.C.
Politicians Need To Stop Pretending the National Debt Is Sustainable
The reality raises questions about the kind of future we want to leave for the next generation.
Bipartisan Tax Credit Bonanza
Plus: California reparations bills drop, the Biden administration continues the war on gas stoves, and D.C.'s rising crime rate.
What Javier Milei Could Teach Democrats and Republicans About Capitalism
His speech in Davos challenged the growing worldwide trend of increased government involvement in economic affairs.
St. Louis Schools Lost $260 Million to Economic Development Subsidies
According to a report from Good Jobs First, St. Louis' public schools took the brunt of the loss at nearly 65 percent of the total.
20 Percent of Welfare Spending Goes to the Households Taxed To Fund It
It's not robbing Peter to pay Paul. It's more like robbing Peter to pay Peter.
Tax Us, Daddy?
Plus: Polycules go mainstream, DeSantis pulls out, tackle football lives on, and more...
