The Senate's top tax writers have promised their colleagues 50 years worth of secrecy in exchange for suggestions on what deductions and credits to protect in tax reform. Finance Chairman Max Baucus (D-Mont.) and the panel’s top Republican, Sen. Orrin Hatch (Utah), are telling skeptical lawmakers that any submission they receive will not be released by either the committee or the National Archives before the end of 2064. Deeming the submissions confidential, the two top tax writers are also ensuring that only certain staff members get access to a senator’s written suggestions. Each submission will also get its own ID number, and be kept on both password-protected servers and a locked safe. [The Hill]
Presuming that Janet Yellen, our current secretary of the Treasury, lives in California, her marginal tax rate might be as high as 13.3%. That’s a little scary for those of us living here in Maryland. Good thing she knows how to handle finances. For that kind of tax rate she might easily be persuaded to […]
Did ya hear? There’s a global pandemic going on. And although we’ve had more than a year to figure things out, obviously there are still some areas where the “idk, just kick that can down the road and we’ll deal with it later” mentality is about all TPTB can muster. For example, the IRS announced […]
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