Mister Taxman: Why Some Americans Working Abroad are Ditching Their Citizenships

Why is Tina Turner switching from American to Swiss citizenship? The legendary singer, a longtime Zurich resident, told the Blick newspaper that she has been very happy in Switzerland and “can’t imagine a better place to live.” But some observers believe she may be one of thousands of American expatriates who have taken the drastic and irrevocable step of giving […]

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Congress Approves Cliff Deal, Signaling Future Fights

Congress’ excruciating, extraordinary New Year’s Day approval of a compromise averting a prolonged tumble off the fiscal cliff hands President Barack Obama most of the tax boosts on the rich that he campaigned on. It also prevents House Republicans from facing blame for blocking tax cuts for most American households, though most GOP lawmakers parted ways with Speaker John Boehner […]

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Will Republicans Drive Voters Away With Too Much Tax Talk?

It’s not exactly a secret  that Republicans hate taxes. The speeches at the Republican national Convention this week have been peppered with talk of tax cuts and the evils of “overtaxation.” And the Republican party platform, approved on Tuesday, goes even further: In a passage that might as well have been written by Ayn Rand, the Repubs declare that “[t]axes, […]

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The Six Daunting Financial Problems Facing America

Solutions to the economic problems that the U.S. faces are unpalatable, and there’s a dangerous temptation to avoid dealing with fundamental issues. The choice of Paul Ryan as the presumptive Republican candidate for Vice President has ensured that budgetary arithmetic will be a central issue in the election campaign. But it’s important to remember, as the Mock Turtle says in […]

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How Dangerous Is America’s Debt?

The deficit needs to be trimmed, but not at the risk of austerity policies that could cause another recession — and the real long-term problem is entitlements In the past three weeks, the Congressional Budget Office (CBO) has released two reports that seem to justify contradictory fiscal policies. The first calculated that the U.S. economy could be thrown into recession […]

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Why Voluntary Taxation is a Bad Idea

If, instead of the “Buffett Rule,” we just decided to make it optional for millionaires and billionaires to give more, then why would we ever raise taxes? In response to President Obama’s proposal that millionaires and billionaires pay at least the same tax rate as middle class families, the conservative Super PAC American Crossroads released an online petition that reads: […]

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