They call me "America's Accountant", with more than 40 Years of experience A libertarian and fiscal conservative from New York. Read my take on taxes, politics, and financial news of the day here on RS and at my website, , "The Brass Tax of Politics"


    Mini Obamacare Bailout? Treasury Covers Some Obamacare Costs Without Congressional Approval

    A few weeks ago, I wrote about how Obama’s budget contained a $22 billion student loan bailout to cover a massive shortage of funds for the Department of Education Federal Student Loan program. Because the program is categorized as a “credit program”, due to a “quirk in the budget process for credit programs, the department can add the $21.8 billion to the deficit automatically, without | Read More »

    An Open Letter to Senatorial Democrats

    The nomination of Loretta Lynch to the position of Attorney General is before you. Although her intelligence, experience, and poise may appear to make her a superb candidate, it is clear now that she would be an extremely poor – even dangerous — choice due to her strong position on civil asset forfeiture. Though I as a libertarian and you as a liberal may disagree | Read More »

    How Loretta Lynch Loves Civil Asset Forfeiture

    Though the confirmation process for the next Attorney General has been delayed for the next two weeks amid lack of Republican support for nominee Loretta Lynch, it is particularly troubling that the media coverage has failed to discuss Lynch’s position on civil asset forfeiture during this time. Civil asset forfeiture is a particularly egregious abuse of power, allowing the government to seize property and cash | Read More »

    Obama’s Education Loan Bailout and the Student Debt Bomb

    Thanks to a post by streiff a few days ago, a surprise in Obama’s budget got my attention. Last week, Politico revealed a little gem hidden in the Obama budget: “In obscure data tables buried deep in its 2016 budget proposal, the Obama administration revealed this week that its student loan program had a $21.8 billion shortfall last year, apparently the largest ever recorded for | Read More »

    How Obama’s Budget Plays With Numbers to Claim Higher Deficit Reduction

    Obama’s budget for FY2016 claimed $1.8 trillion in deficit savings over a ten year period, 2016-2025. He used PAYGO (pay-as-you-go) rules to determine this figure, which basically means paring tax increases and spending reductions on one side to pay for new spending programs and tax credits on the other side, with anything left over going to the deficit. However, his numbers for overall deficit reduction | Read More »

    A Primer on Filing Taxes, Obamacare, and Related Forms

    This year, taxes will get extra tricky, because filers will be required to account for their health insurance on their forms. There are four ways to do so: 1) For taxpayers who do not have Obamacare, the process is simple: check a box indicating you have insurance. This is U.S. Individual Income Tax Return for 2014, line 61 2) If a person opted not to | Read More »

    Obama’s Policy Proposals Are the Opposite of “Tax Reform”

    Obama has consistently talked about how he is for “tax reform” all during his presidency. But clearly, he has no idea what that even means. True tax reform is a mechanism that produces a cleaner and clearer tax code. A great example of this was the 1986 IRC reform, where Reagan set the highest rate at 28% in exchange for eliminating massive amounts of tax | Read More »

    Obamanomics: Capital Gains Hikes and the Economy

    President Obama just told the country during his State of the Union address that he is going to increase the capital gains rate again in order to raise revenue for new spending programs. Given that Obama already knows that raising the capital gains rate actually REDUCES revenue, we are left with a President who believes that we can pay for increased spending by reducing revenue. | Read More »

    Obama Omits “God Bless the United States of America” at End of SOTU Speech

    Promoted from the diaries President Obama ended the State of the Union address in a new way. He didn’t say, as tradition, “God bless you, and God bless these United States of America” He said, “Thank you, God bless you, and God bless this country we love.” A quick check on his prior SOTU speeches reveals he used the customary phrasing in past years: 2014: | Read More »

    Did Eric Holder Do Something Right?

    Yes, yes — I never thought I’d write something positive about Eric Holder, but from the looks of news in the Washington Post, Eric Holder has done something about which I (cautiously) agree. Holder announced that he has “barred local and state police from using federal law to seize cash, cars and other property without warrants or criminal charges. Holder’s action represents the most sweeping | Read More »

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