tax

A 1-post collection

Taxes are less about money than you think

Reuters reported yesterday that a bill about to be considered would raise taxes on investment fund managers, by treating some of their investment income like "regular" income. Will this raise a lot more money in the grand scheme of things? No. Why do it? Politics. It's a way to look "tough on" Wall Street. This week the unpopular people are the investment fund managers, so we are going to tax them extra, and not let them eat lunch at the cool kids' table. One of the reasons our tax system is so insanely complex is that it's not designed to be about raising needed money, it's not particularly "designed" at all in the sense that there's some overreaching vision that...