Tag Archives: pandering politicos

Sharpton’s financial dealings exposed in NY Times

The Reverend Al Sharpton is in the news again, but not in a way he would like: The New York Times has a long piece rounding up many of his financial adventures, including more than $4.5 million in current state and federal tax liens against Sharpton and his businesses, both for-profit and non-profit.

Some of the financial details go back more than a decade. There may be agreements in place with the federal and state agencies on payments of back taxes, and explanations for how various debts were accumulated. But if you’re running an organization, you never want to see a sentence like the one in the Times that quotes the accountant for one of Sharpton’s non-profits stating that the group’s existence was as least partially dependent upon “the nonpayment of payroll tax obligations.”

Yipes.

Multinationals seek tax heavens, er, havens . . . oh, what’s the diff?

More and more U.S.-based corporations are growing wings and flying away from their U.S. tax obligations. Bloomberg puts it as simply as possible: “U.S. companies looking for lower tax bills are heading for the exits, and Congress is doing nothing to stop them.” The immediate impetus for the story was Pfizer’s proposed purchase of AstraZeneca,…Continue Reading

For privileged corporations, paying state taxes is increasingly becoming a thing of the past

States regularly offer tax incentives (or, depending on your point of view, corporate welfare) to major corporations in exchange for promises of expansion, corporate relocation, retention of old jobs, creation of new jobs, and anything else with the word ‘jobs’ in the sentence. If you think about it, it’s an almost mindless rush to the…Continue Reading

What to expect from the Ryan Administration

Mitt Romney will only release one year of past tax returns and won’t give any specific budget proposals. But sooner or later, he had to pick a vice-presidential candidate. So we can now look to Paul Ryan’s proposals as chairman of the House Budget Committee (Romney previously called a proposed Ryan budget “excellent work”) for…Continue Reading

Mitt Romney, through the funhouse mirror

Mitt Romney famously told a heckler on the campaign trail that corporations are people, too. A fellow named Geoff Sugerman was paying attention. Here’s his proposal: If corporations are people, why can’t people be corporations–with all the tax benefits of corporations Geoff has a website, peoplearecorporations.org., where he also promotes his political action committee, People…Continue Reading

Tax pandering season in high gear

The tax pandering season got into high gear with both President Obama and Presumptive-Nominee-In-His-Own-Mind Mitt Romney coming out with tax reform proposals on Wednesday. As The Washington Post points out, Romney would cut all individual income tax rates by 20%. But beware! Here’s Joe the Tax Guy’s Rule Of Across-the-Board Tax Cuts: Across-the-board cuts favor…Continue Reading

Is a zygote a person? Ask your tax guy.

More than a half-dozen states are considering constitutional amendments, ballot measures or legislation that would declare a fertilized human egg (think back to your high school science classes and the word, “zygote”) to have the legal rights of a person. I’m not going to get into the logic of this. Oh, heck, sure I will—it’s…Continue Reading