Charles Krauthammer […] writes that the “most scurrilous” criticism of House Budget Committee Chairman Paul Ryan’s fiscal plan is that it would cut taxes for the rich. This would, he says, be akin to making the same claim against the Ronald Reagan-Bill Bradley 1986 tax reform. Krauthammer goes on to assert that Ryan’s plan is “classic tax reform” that … broadens the base by eliminating loopholes. The facts are otherwise. The Ryan plan, at least what we know of it, would inarguably cut taxes for the rich. It in no way resembles the 1980s tax reforms of either President Reagan or Senator Bill Bradley and Representative Dick Gephardt. And it most assuredly fails to eliminate loopholes. [TaxVox, WaPo]
Related Posts
John Kerry May Be Having Buyer’s Remorse re: $7 Million Yacht
- Caleb Newquist
- July 27, 2010
Because people keep asking about it.
If pesky Boston reporters weren’t enough, the Wall St. Journal’s report is taking this to new hyperbolic levels with the headline: “John Kerry – A One-Man ‘Benedict Arnold’ Corporation”:
[T]here’s a smell of hypocrisy. In addition to sailing around the tax issue, Mr. Kerry chose to build his boat in New Zealand at a time when Bay State boat builders are having trouble keeping their work force employed. “I’m confident that anything constructed in New Zealand could be constructed here in the state,” Gregory Egan, who owns the Crosby Yacht Yard in Osterville, told the Boston Herald. Others noted that the Isabel was specially designed to be piloted without a crew — letting Mr. Kerry scrimp on employment costs and payroll taxes.
Jesus. A rich senator, married to a ketchup heiress, buys an expensive boat, does some not-so-fancy tax avoidance and all of a sudden he’s equated to, arguably, the most notorious traitor in the history of the United States? Yeah, that’s pretty much the same thing.
John Kerry – A One-Man ‘Benedict Arnold’ Corporation [WSJ]
Sen. Kerry Sails Around the Tax Issue [TaxProf Blog]
Earlier: John Kerry Saves $500k in Taxes By Dropping Anchor in Rhode Island
UPDATE: JK’s spokeswoman has said he will pay the tax if Mass. determines that he owes it.
Share this:
Oregon Department of Revenue Sensitive to the Fact That Some Religious Groups Think Filing Tax Forms Electronically Is of the Devil
- Caleb Newquist
- June 27, 2013
Are there any accountants out there that moonlight as religious scholars? I know you're out […]
Share this:
People Are Having Babies Earlier to Max Out Tax Benefits
- Caleb Newquist
- August 13, 2013
Naturally. Williams’s Sara LaLumia, the University of Chicago’s James Sallee and the Treasury Department’s Nicholas […]