Odious debts and the rights of the taxpayer.
Taxes
this is how the end begins
Are you paying close attention? It’s happening.
A Supply Sider Embraces the Too Big To Fail Tax
A former Reagan staffer explains why the tax on giant bailed-out banks is actually a fiscally conservative proposal.
Now Leaving California…
A word to the wise…this is what happens when public sector spending crushes an economy. DC, are you paying attention? Sources: Cagle.com
You and Us. (*unless things get ugly, then you're on your own)
One of the more curious features of the wealth management business over the last few years was the unfair competitive advantage that some firms had over others because of their innate ability to offer tax-evasion-as-a-service to high net worth investors as a selling point. It’s nice to hear that someone out there in Governmentland actually cares……
Will Explosive Taxation Derail the Recovery?
Clearly, there are some areas of the economy that are showing signs of a recovery. What this may mean to stocks, bonds, real estate etc is not the subject of this post. Instead, let’s take a moment to ponder the new emerging headwind that could throw a serious monkey wrench in our recovery hopes for…
New Roth IRA Rules
I thought this was a great overview of how the rule change for Roth IRAs will work. The upshot is that the income restrictions on who may open and contribute to a Roth are changing as of January 1st 2010. From WSJ via Yahoo Finance: Starting Jan. 1, the income limits that have prevented many…
UBS: "Selling Tax Evasion as a Service"
From Bloomberg: Under threat of prosecution, UBS in February agreed to turn over about 250 names of Americans suspected of tax fraud. We’ve discussed this matter on TRB before, but frankly the longer this thing festers, the more it’s gonna piss me off. UBS has this enormous “Wealth Management” business here in the US and…
John Mauldin: An Unpayable Deficit?
John Mauldin‘s latest newsletter, entitled This Way Be Dragons (Thoughts from the Frontline), tackles the big problem that the bulls don’t want to think about yet: How will the $1.2 trillion deficit we’ve got in the oven ever be paid off? While Obama gives lip service to cutting the deficit in half, his actual budget…
Tax Evasion Central Cutting PaineWebber Brokers
How does a big Swiss bank built on stolen Nazi gold, hidden money from African and Middle Eastern despots and un-taxed lucre from wealthy Americans with cross-border connections react to yet another multi-billion dollar quarterly loss? That’s easy! It fires stockbrokers. From the Financial Times: 2,500 will go in wealth management Americas, the former PaineWebber…
