Democratic Presidential Candidate Drops Out Without Releasing Tax Plan
The Bernie Sanders campaign sent me something pretty detailed, but there is still no word on what he is thinking for rates. Hillary Clinton has floated a couple of proposals – more than two holding periods for capital assets and a tax credit to encourage profit sharing plans – that make it clear that a vote for Clinton will not be a vote for tax simplification. I haven’t noted anything yet from O’Malley and Webb dropped with nary a word on tax, although he probably convinced the other candidates that if they didn’t pick him for VP, they should strongly consider him for heading up their Secret Service detail.
Redstone Family Saga Writ Large In Favorable Tax Court Decision
Being in the movie business and all you would think the Redstones. would have been familiar with the remark attributed to Samuel Goldwyn – “A verbal contract isn’t worth the paper it’s written on.”
My own closing comment is that even though there was a favorable result here, I don’t think that it would be wise to attempt to do something like this on purpose.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.