Well, this is interesting. The IRS here says that: “If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner.” (See page 90 under “”Stolen Property.” I wonder what implications this has for the tax returns of, for example, Members of Congress.
In Washington, words such as “cost,” “tax,” “subsidy,” “spending,” and other fiscal terms have no fixed meaning. For example, it is considered costly to cut taxes, and a subsidy to provide a tax break. This morning, we read that Bush wants to provide a tax break to low income people who buy private coverage, while taxing people “for some workers
The hurricane sirens went off this evening in Auburn, which they seem to do every time there is any wind or rain within 60 miles. And every time I’m reminded of that day, about 10 years ago, when a bureaucrat from FEMA called our offices. He was furious about some editorial we had published attacking FEMA policies. We defended our position. He
From Portfolio.com : No matter how you view them, the numbers inspire shock and awe. According to the Congressional Research Service, the combined cost of the Iraq war (Operation Iraqi Freedom, in Pentagon jargon) and its companions, Operation Enduring Freedom, in Afghanistan, and the Global War on Terror, could easily top $600 billion this
The Bush administration gives advice on an interesting get-rich scheme ( WSJ ) Blowing the whistle on big-time tax cheats could make some informants wealthy -- as long as they have hard evidence and plenty of patience. Just over a year ago, President Bush signed legislation authorizing the Internal Revenue Service to pay sharply higher rewards to
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.