Tax

Has Donald Trump’s return to the White House triggered a second round of inflation? Not yet, according to the Bureau of Labor Statistics, which revealed this morning that the consumer price index rose to 2.8 percent in February — 0.1 percent less than markets had expected. The rise is being described as "stable," as annualized core inflation (which excludes more volatile prices like food and energy) rose to 3.1 percent — also a smaller rise than expected. While inflation on the year is ticking up slightly, it remains in the ballpark of what has been expected.

As the level of US debt zooms past the $34 trillion mark, it has become increasingly clear that the American left has no intention of trying to help control government spending. To the extent that annual deficits must be trimmed to protect the integrity of the nation’s currency, Democrats and their allies are instead planning to go beyond the current progressive tax on income and institute a new levy on citizens’ assets. Some such as Senator Elizabeth Warren openly advocate taking the conventional idea of a property tax and applying it to everything a person owns — cash, savings accounts, stocks, jewelry and even art.

Bristow, Virginia Virginia governor Glenn Youngkin responded to recent accusations from Democrats that he is attempting to buy votes by sending out tax rebates ahead of the 2023 statewide elections. “Had [Democrats] not delayed the budget for seven months, then the tax checks would have gone out a long time ago,” Youngkin told The Spectator during a press gaggle at Piney Branch Elementary School. The governor dropped by multiple polling locations on Tuesday to speak to election volunteers and voters. NBC News reported last week that “the state of Virginia is sending out tax rebate checks to qualified residents, just days before the state’s 2023 General Assembly elections.

A federal judge called a second recess in Hunter Biden’s hearing Wednesday as the plea agreement between Hunter Biden and the US attorney in Delaware appeared on the verge of collapsing. Biden was expected to plead guilty to two tax misdemeanors after making a deal in June that would allow him to avoid prosecution on a gun charge. A disagreement between prosecutors and defense lawyers about immunity from other charges threatened to kill the deal. Biden's attorneys came to a limited agreement with prosecutors that stipulated the deal covered specific charges within a time period/ US District Judge Maryellen Noreika asked Leo Wise, a member of the prosecution, if the deal meant Biden would be immune from prosecution for other crimes, to which he responded no.

The Department of Justice denied agents investigating Hunter Biden’s taxes and foreign business deals access to evidence and witnesses, according to two IRS whistleblowers.   The House Oversight Committee heard testimony from Special Agent Joseph Ziegler and his supervisor Gary Shapley of the IRS during a six-hour hearing Wednesday. The two agents involved in Biden’s criminal probe expressed frustration at how US attorney for Delaware David Weiss and prosecutors within the DoJ handled the investigation.

In his texts, Hunter Biden depicts himself as Atlas, carrying his entire family on his back — their financial and emotional burdens taken unto himself, turning his life into a black hole of drugs, debts and duplicity. You have to be a certain kind of troubled to carry on an affair with your brother’s widow while sexting her married sister, corresponding with them in disturbing messages in between wiring them money. The threats of self-harm and the mournful late-night desperation, alternating with chest-thumping declarations that he’s the only one earning money for the family, are all recognizable as aspects of someone with serious substance addiction. If he wasn’t so clearly an awful person, you’d almost feel sorry for the guy. Almost.

For a profession more hated than telemarketers and meter maids, last week the Internal Revenue Service put up a job ad that sounded so cool it even made Cockburn consider it. The IRS is in the market for a Special Agent, specifically one that can fire a gun and is “willing to use deadly force if necessary,” for its law enforcement division, Criminal Investigation (CI). The agency is set to double in size and is recruiting more staff following the passage of the Inflation Reduction Act, a Democratic spending bill which President Biden is set to sign today.

There’s a saying in Florida: “the further south you go, the more north you get.” Those familiar with the state’s geography know this reflects the reality that most of the southern regions of the state — Palm Beach, Miami, Naples, Fort Myers — have large cohorts of migrants from up north. There is even a logic to who moves where. Northerners from New York, New Jersey, Connecticut and the other New England states come down Interstate 95 and end up in southeast Florida while Midwesterners from Illinois, Ohio and Michigan travel down I-75 and settle in the southwest part of the state. This migration is not a new phenomenon. Over the past twenty-five years, Florida’s population has boomed unlike anywhere else in the country.

For most Americans, tax season is accompanied by a soundtrack of wailing and gnashing of teeth. According to Pew Research Center, 56 percent of Americans hate or dislike doing their taxes, and 31 percent of those respondents say the process is too complicated. Filing your taxes is expensive, in both time and money: ProPublica reported in 2019 that "Americans spend an estimated 1.7 billion hours and $31 billion doing their taxes each year." When you're elbow-deep in documents and receipts, poring over tiny boxes filled with numbers and second-guessing whether you did, in fact, get married last year, you might ask yourself: does it really have to be this hard? The answer is no. Many other countries, like Germany, Japan, New Zealand and the United Kingdom, have "exact-withholding" systems.

There was nothing original about Amy Coney Barrett’s appearance before the Senate Judiciary Committee other than her incessant professions of her fidelity to an originalist approach to the American Constitution. Originalism is a convenient smokescreen for conservatives to act as what they claim not to be — judicial activists, ascribing their own views to the founders. But to acknowledge this would be to land Barrett in a host of difficulties. For the likes of Barrett, originalist theory is the judicial equivalent of an SDI shield. She wielded it well. Throughout, she dutifully supplied answers that were none at all. She has no ‘agenda’. She has no view on whether a president can delay an election. Voter intimidation at the polls? Once again, she punted. After Sen.