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Unintended Consequences of High Taxes on the Rich

Two types of tax increases are being promoted by several presidential candidates and members of Congress. The less common idea, which I wrote about recently, is a wealth tax on net worth. The more common proposal is a significant increase in income taxes. Presidential candidate Bernie Sanders favors a progressive income tax that tops out […]

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How to Explore Your Relationship With Money

Most of us would probably agree that money skills are 21st Century survival skills. Yet, even with all the importance we put on money, most of us know darn little about what we personally believe about money and the relationship we have with it. One reason for this avoidance is simply not knowing where or […]

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Small Companies Get Tax Breaks, Too

An April 29th headline in The New York Times got my attention: “Profitable Giants Like Amazon pay $0 in Corporate Taxes. Some Voters Are Sick of It.” My immediate reaction was outrage. Amazon had a 0% tax rate. My company’s overall tax rate was 24%, and its net profit was less than 0.000025% of Amazon’s. […]

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Capitalism and Its Critics

Is capitalism broken? Increasing numbers of Americans, particularly younger adults, seem to think so. This idea is part of the motivation for those who, as discussed in last week’s column, are turning toward socialism. An Axios poll in January found 70% of voters want the economic system reformed. They think the economic system is skewed […]

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