Vikings defeat taxpayers in 4th quarter (Russ Fox). It’s heartwarming to see rich team owners get big taxpayer subsidies for their man-toys.
Assume miracles and Social Security will be fine. My latest at Going Concern.
Our tax code isn’t about collecting revenue. It’s about taking care of political friends and being used as a campaign election issue to divide and conquer the electorate. The point of Washington is to get reelected. And “can-kicking” – which I define as avoiding any difficult tax policy decision — is an Olympic sport in Washington that our politicians excel at. That is why my answer to the question “When do you think we will get tax reform?” is now “Not until something really bad – and I mean really bad – happens.”
David Brunori notices that “Politicians are willing to use a revenue source proven to be regressive and addictive to pay for services.” He’s talking about gambling here, but he could be talking just as much about cigarette taxes.
Howard Gleckman at TaxVox: Will Obama’s Views on Tax Reform “Evolve” Too? Not unless his campaign contribution bundlers take an interest in the issue.
Other states can be as gullible as Iowa: Cape Cod film maker convicted of fraud is sentenced to 2 to 3 years (Boston.com). More from the LA Times, plus Tax Update film credit coverage here and here.
Hamburger-chomping moron update: Ex-IRS agent, whose case triggered the most epic comment ever seen on the Tax Update, has his tax crime sentence upheld by the 9th Circuit. A taste of the comment:
The hamburger chomping, malleable morons of your ilk, no doubt, have been licking their fingers from the juicy tidbit you posted about the ‘rogue’ IRS agent, but a simpleton like you would not even deign, or has the mental acumen, to find or print the truth.
May you eat all of your hamburgers with small, dignified nibbles this weekend.