Fiscal Cliff Video
I did a "Chicago tonight" segment on the financial cliff,
The other guest, Carl Tannenbaum, is a skillful friend equally good equally a thoughtful economist. We went to high schoolhouse together. It was a pleasant surprise to run inwards to him inwards the antechamber of WTTW's studios.
The intro segment is worth watching too. "Chicago tonight's" producers wisely got a existent revenue enhancement lawyer to explicate what the "cliff" is all about.
How prissy to outset alongside a quick review of strategies that "the rich" volition role to avoid the novel taxes.
One twelvemonth from now, the studies volition outset rolling inwards (I hope) documenting how much extra revenue the financial cliff revenue enhancement hikes truly collected from their targets. My bet: less than one-half of the $60 billion advertised. I'll live on surprised if it's positive, actually.
Who won the financial cliff negotiations? Democrats? Republicans? VP Joe Biden? No. Tax lawyers, accountants, together with lobbyists.
In representative you lot mean value whatever of this had to scope alongside deficits, I sign off today alongside a lovely graph from a great slice yesteryear Yuval Levin:
And it volition live on less than that. Yuval uses the CBO forecasts, which assume rich people don't scout "Chicago tonight" together with speak to their revenue enhancement lawyers.
The other guest, Carl Tannenbaum, is a skillful friend equally good equally a thoughtful economist. We went to high schoolhouse together. It was a pleasant surprise to run inwards to him inwards the antechamber of WTTW's studios.
The intro segment is worth watching too. "Chicago tonight's" producers wisely got a existent revenue enhancement lawyer to explicate what the "cliff" is all about.
How prissy to outset alongside a quick review of strategies that "the rich" volition role to avoid the novel taxes.
One twelvemonth from now, the studies volition outset rolling inwards (I hope) documenting how much extra revenue the financial cliff revenue enhancement hikes truly collected from their targets. My bet: less than one-half of the $60 billion advertised. I'll live on surprised if it's positive, actually.
Who won the financial cliff negotiations? Democrats? Republicans? VP Joe Biden? No. Tax lawyers, accountants, together with lobbyists.
In representative you lot mean value whatever of this had to scope alongside deficits, I sign off today alongside a lovely graph from a great slice yesteryear Yuval Levin:
And it volition live on less than that. Yuval uses the CBO forecasts, which assume rich people don't scout "Chicago tonight" together with speak to their revenue enhancement lawyers.
No comments