The ultra-wealthy present themselves as the solution for inequality, pledging millions and sometimes billions of dollars to philanthropic projects. Take Jeff Bezos, who gave $100 million to food banks during the pandemic, but did not provide adequate leave for Amazon workers who were sick during initial COVID outbreaks. Most billionaires’ charitable acts are more self-serving […]
Tag: taxes
California: The Most Over-Hated State
When I first came to Berkeley, I was well aware of the Bay Area and its reputation. Friends and family, both in-state and out, hit me over the head with tales of crime, homelessness, poverty, and stuck-up tech CEOs. Although the last admonishment was warranted, as soon as I arrived Berkeley struck me with its […]
Boycott TurboTax’s Corporate Lobbying Power
Spring is a favorite season of many Americans; as winter finally begins to fade away, green replaces brown, and favorite foods come back into grocery stores and farmer’s markets. Americans welcome spring with celebrations like Easter, Holi, the Spring Equinox, Songkran, Passover, and Nowruz. But, what really unites us all in springtime is much less […]
The Untaxed Business of Religion
Each year, religion contributes $1.2 trillion dollars to the country’s economy. However, a large portion of that goes untaxed due to the belief that churches are providing for the community, as any charity or non-profit does. In the past, religion had played a major role in providing a good for society, but that is seen […]
The California Exodus Myth
The California Exodus Myth If you have lived in California for very long, you have heard the myth. By all accounts, high income and corporate tax rates are causing an economic downturn that is prompting folks to flee California for conservative paradises like Texas and Florida. It’s obvious, right? Liberals are destroying businesses with regulations […]
The Curious Task of Redistributive Taxes: Inheritance and Corporate Taxes
Frederich Hayek famously said “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” Professor Mario Muzzi, economics professor and department chair at the University of San Francisco, recites this quote from memory. In other words, his message is that the intended outcome […]
False Promises: Why Warren’s Healthcare Plan Would Create More Problems Than Solutions
The Democratic Party’s cry to battle these days seems to be Medicare for All. What was once deemed an extreme and far-left-of-mainstream idea from Bernie Sanders during the 2016 primary has turned into the centerpiece of many Democrats’ campaigns. Even the “moderates” of the race such as Biden and Buttigeig are promising plans such as […]
The “Split-Roll” Initiative: California’s New Hope for its Property Tax Loophole
Proposition 13, passed nearly 40 years ago, has been benefiting large corporations by handing them massive property tax breaks. This seemingly innocuous anti-tax legislation resulted in fundamental changes to the division of fiscal responsibility in California’s government. Now, a statewide coalition is trying to fight this through a new ballot measure. Passed in June 1978, […]
You Will Not Benefit From Social Security (Unless Changes Are Made)
It is likely you have been paying social security taxes for a large portion of your life. It is also likely you haven’t received any benefits because, even though social security benefits cover about 62 million people, only the elderly, disabled workers, and families with a deceased parent or spouse are covered. The program has […]
Social Security and the Terrible, Horrible, No Good, Very Bad Outlook
[vc_row][vc_column][vc_column_text]Ironically, for the future of retirement, past will not be prologue. In the decades ahead, America will confront some long term trends — among them declining birth rates and life expectancy gains — and we will be forced to reform our essential welfare programs, including Social Security. Because these population trends were less stark in […]