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Surge In First-Time Delinquent Taxpayers

Reuters | Posted 05.25.2011 | Home

WASHINGTON, April 14 (Reuters) - As a deep recession strips Americans of their jobs, homes and investments, the 2009 U.S. tax season promises to see a...

Why Our Tax Code is So Complicated

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business

There are plenty of reasons why the tax code is so complicated -- the length of time tax law have existed, special interest giveaways, and the implementation of anti-avoidance laws.

CODEPINK Behind Blankfein: "Taxpayers Want Their Money Back"

Medea Benjamin | Posted 05.25.2011 | Business
Medea Benjamin

I started to ask my questions: "Why should taxpayers reward the failures of Wall Street? Why should we bailout Goldman Sachs?" but they cut off the stage mic.

Higher Valuation Allowed for Brooklyn Bridge-Backed Derivates

Larry Arnstein | Posted 05.25.2011 | Business
Larry Arnstein

According to investment bankers, the Brooklyn Bridge can be assessed at its value at some future time, not precisely estimated, but agreed to be "not soon."

Taxpayer Money: Banks Take $211 Million In Fees For Bond Auctions That Never Happened

Bloomberg | Darrell Preston | Posted 05.25.2011 | Business

March 10 (Bloomberg) -- From Carnegie Hall in New York to the Los Angeles bus and subway system, American taxpayers are paying investment banks millio...

Momonomics 102: The Wile-E Coyote Bailout

Robyn O'Brien | Posted 05.25.2011 | Business
Robyn O'Brien

How does that impact a family in Houston or a farmer in Iowa? It means that it is going to become harder to borrow money since the banks don't want to make loans.

Roosting Chickens

Gary Hart | Posted 05.25.2011 | Politics
Gary Hart

What does the unrelated cast of characters featured in this evening's newscast have in common? They all benefited from the tax cuts and deregulation policies of George W. Bush.

Progressive Agenda Tip #1: Pay Your Taxes

Elizabeth Rigby | Posted 05.25.2011 | Politics
Elizabeth Rigby

When our leaders, or even our potential leaders, fail to contribute to the collective good, it feeds our lack of faith in them as stewards of the incredible coercive power of government.

Is it Time for "Job Bonds?"

Hoyt Hilsman | Posted 05.25.2011 | Business
Hoyt Hilsman

As we face another global crisis, maybe it's time to invest in victory over the financial crisis with bonds to create jobs -- call them "job bonds."

Obama and Volcker: Economic Solutions, Good; Summers and Geithner: Financial Solutions, Not Good.

Saskia Sassen | Posted 05.25.2011 | Business
Saskia Sassen

The shadow banking system is not illegal or clandestine. It is in the open, but it has thrived on the opaqueness of the investment instruments, facilitated by their complexity.

U.S. Taxpayers and The I.R.S. Qualified Intermediary Program

Gary S. Wolfe | Posted 05.25.2011 | Business
Gary S. Wolfe

U.S. Prosecutors allege UBS deliberately abused the Qualified Intermediary Program ("QI Program"), selling offshore banking services to U.S. Taxpayers to evade taxes.

Too Big to Succeed

John Standerfer | Posted 05.25.2011 | Business
John Standerfer

What we don't appear to understand yet is that no amount of money, time or regulation can possibly resolve this problem while a few banks continue to hold the entire nation hostage.

Manufacturing a Dream and a Recovery

Scott Paul | Posted 05.25.2011 | Politics
Scott Paul

If the destruction of capitalism and the arc of history were responsible for American manufacturing's steep decline, there would be a legitimate debate about whether it's worth saving.

At Last, It Begins: Real, Substantive Debate on 2009 Climate Legislation

Dan Rosenblum | Posted 05.25.2011 | Green
Dan Rosenblum

If introducing a new tax on carbon seems like a quixotic political battle in a time of historic economic and fiscal crisis, then you're out of touch. The crisis has in fact given it a big boost.

Poll: Auto CEOs Not Worth $1 a Year

Andy Borowitz | Posted 05.25.2011 | Politics
Andy Borowitz

The proposal by the CEOs of the Big Three to work for $1 a year has gone over like a lead balloon with taxpayers, with a clear majority believing that the car bosses do not deserve such a bloated salary.

Attorney General Mukasey Has Cost Taxpayers $155,800 For Private Trips

McClatchy Washington Bureau | Marisa Taylor | Posted 05.25.2011 | Politics

WASHINGTON -- Attorney General Michael Mukasey has taken personal trips on government jets almost every weekend since he took office less than a year ...

Default Swaps and Denuded Swamps

Jeff Schweitzer | Posted 05.25.2011 | Green
Jeff Schweitzer

After eight years of neglect, climate change requires immediate attention. Let us respond with urgency, with humility, and with an eye on Wall Street as a reminder of our errant ways.

The Next Fight

Robert L. Borosage | Posted 05.25.2011 | Politics
Robert L. Borosage

We're going to have to spend a boatload of money - borrow it, deficit spending - to get this economy going. And tax cuts won't do it; we have to rebuild America. Getting this done is the next big fight that the next president will face. Eliminating waste in government spending is a Good Thing (although if the candidates were serious they'd start with the Pentagon budget, the largest source of waste, fraud and abuse, not the domestic side). But we can't duck the reality: we're headed into a deep recession and we're going to need a healthy dose of deficit spending to get out of it.

Next Time, Tax 'Em

Jay Mandle | Posted 05.25.2011 | Business
Jay Mandle

One way to downsize the role of Wall Street and help curb its excesses would be a tax on financial speculators, known as a security transaction excise tax (STET).

26 Days Out: Pay No Attention to the Embarrassingly Horrible Economic Plan Behind the Curtain

Jesse Lee | Posted 05.25.2011 | Business
Jesse Lee

McCain and his campaign spent Wednesday boasting about his latest big, bold, erratic econonomic plan. Then something happened - everybody looked at it and realized it was awful.

We're Investment Bankers And We're Here To Help

Gregory Bedrosian | Posted 05.25.2011 | Business
Gregory Bedrosian

Some advice for our fellow taxpayers in the great financial bail-out.

Time For a Taxpayers Revolt

Medea Benjamin | Posted 05.25.2011 | Business
Medea Benjamin

Originally published Sept. 28 on The Indypendent. Congress will be voting this week on the biggest giveaway of our tax dollars to the financial secto...

Meeting on Hill: Why? The Only Vote Is No!

Charles Karel Bouley | Posted 05.25.2011 | Politics
Charles Karel Bouley

I have no doubt Obama has been working on this all along. McCain, well, he woke up this week and found himself and the country in this mess and wanted a time out.

Primary Bailout Guideline Should Be Bottom-up For Tax Payers First

Rob Kall | Posted 05.25.2011 | Business
Rob Kall

As the members of congress explore solutions-- and I hope they are really exploring, not just working from the the proposal Paulson has submitted-- th...

Walking the Plank With Captain "Bailout" Paulson

Blaise Nutter | Posted 05.25.2011 | Business
Blaise Nutter

Today is International Talk Like A Pirate Day, in case you hadn't noticed. Everyone's getting into the act... but no one could compete with the pirate-talk of Treasury Secretary Henry M. Paulson Jr.